Danielson Holding Reports Big Loss Increase

Danielson Holding Corporation ("DHC") (Amex: DHC) yesterday reported a loss of $57.8 million, or $1.88 per diluted share for the quarter ended March 28, 2003. That compares with a loss of $.05 million, or nominal loss per diluted share in the first quarter of 2002. The current period loss includes $55.2 million attributable to its investment in American Commercial Lines, LLC ("ACL"), which was written down to zero during the period. The current quarter includes results from Danielson Indemnity Company ("DIND") and its subsidiary National American Insurance Company of California ("NAICC"), a ...