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.

United Companies also announced that its chief financial officer, Michael W. Trickey, who joined the company in April, will step down after the completion of the 1998 financial statements.

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.