TW Holdings Inc., parent of Chicago-based Canteen Corp., said its fourth- quarter net loss narrowed to $5.7 million, or 5 cents a share, from $12.6 million, or 91 cents a share, a year earlier. Income from continuing operations rose 13.5 percent, to $75.3 million from $66.4 million. TW Holdings, based in Spartanburg, S.C., said revenue grew to $904 million from $887 million.
”Our Canteen contract food-service division continued to experience lower sales in many accounts where work forces were reduced by client companies,” said Jerome J. Richardson, president and chief executive.
For the year, TW Holdings showed a net loss of $67.8 million, or 61 cents a share, compared with a net loss of $57.3 million in 1989. Revenue expanded to $3.7 billion from $3.2 billion.
