Pittsburgh-based National Intergroup reported substantial improvement in...

Pittsburgh-based National Intergroup reported substantial improvement in revenue and net income during the first quarter of its fiscal year, which included the results of recently acquired FoxMeyer Corp.’s pharmaceutical distribution business. Net income for the first quarter ended June 30 totaled $1.5 million. A year earlier, the company posted a $12.3-million loss, including equity income of $15.8 million from First Nationwide Financial Corp., which was sold in December, 1985, and $3.1 million from the materials distribution business, the sale of which is being finalized. NII reported that its net equity loss from its 50% interest in National Steel Corp. totaled $2.3 million, down from a loss of $10.8 million in the comparable 1985 period.