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Financial results

By Furniture Today Staff -- Furniture Today, January 25, 2004

CIT Group
Earnings per share are fully diluted, and all figures in parentheses are losses or declines.
Quarter ended 12/31	2003	2002	Change
(a) Finance income before interest expense. Excludes other revenue of $246 million in the 2003 quarter, $263.5 million in the 2002 quarter, $947.6 million in the 2003 year and $993.6 million in the 2002 year. (b) Includes pretax losses on venture capital investments of $60.5 million in the 2003 quarter and $6.4 million in the 2002 quarter. The 2003 quarter also includes a $50.4 million pretax gain on call of debt. The 2002 quarter is after $2.7 million in preferred dividends. (c) After preferred dividends of $5.4 million in the 2003 year and $10.8 million in the 2002 year. Includes pretax losses on venture capital investments of $88.3 million in the 2003 year and $49.3 million in the 2002 year. The 2003 year also includes a $50.4 million pretax gain on call of debt.
Finance income (a)	$925,900,000	$971,700,000	(4.7%)
Operating income	NA	NA	NA
Net income (b)	155,200,000	141,300,000	9.8%
Earnings per share	0.72	0.67	7.5%
Year ended 12/31	2003	2002	Change
Finance income (a)	$3,729,500,000	$4,115,500,000	(9.4%)
Operating income	NA	NA	NA
Net income (c)	566,900,000	(6,741,500,000)	—
Earnings per share	NA	NA	NA

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