loss of $583.9 million, or $20.74 per share, for 1998.

It had a net income of $74.6 million, or $2.30 per share, in 1997. United Companies, which filed March 1 for protection under Chapter 11 of the bankruptcy law, attributed the loss primarily to a $605.6 million writedown to the value of its interest-only and residual certificates on Dec. 31.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.