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Hallwood Group declares June 2006 sales result down

14 Aug '06

3 min read

For the six months, other income (loss) was a (loss) of $1.1 million and income of $627,000, respectively, including an equity (loss) of $1.0 million in 2006, compared to equity income of $194,000 in 2005.

Income Tax Expense (Benefit). For the 2006 second quarter, the income tax (benefit) of $125,000, included a noncash deferred federal tax (benefit) of $269,000 and state tax expense of $144,000. For the 2005 second quarter, the income tax expense of $873,000, included a noncash deferred federal tax (benefit) of $252,000, current federal tax expense of $650,000 and state tax expense of $475,000.

For the 2006 six months, income tax expense of $358,000, included a noncash deferred federal tax (benefit) of $19,000 and state tax expense of $377,000. For the 2005 six months, the income tax expense of $1.9 million, included a noncash deferred federal tax expense of $239,000, current federal tax expense of $656,000 and state tax expense of $983,000.

Texas based The Hallwood Group Incorporated is a diversified holding company operating in two industry segments: real estate and textile products. The Company's real estate operations formerly included 116 buildings under management in six states. The Company's textile products subsidiary is an integrated textile company that develops and produces innovative woven fabrics through specialized finishing, treating andcoating processes.

Hallwood Group

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