EARNINGS : RJR Nabisco Cuts Loss Margin

RJR Nabisco Holdings Corp. said today its third-quarter loss narrowed to $86 million on revenues of $3.52 billion, compared with a loss of $447 million on revenues of $2.99 billion in the like 1989 period.

The food and tobacco giant said the 1990 third-quarter loss reflects $507 million in pre-tax charges for non-cash interest related to RJR Nabisco’s leveraged buyout in 1989, as well as $303 million in pre-tax charges for amortization and depreciation.

The third-quarter loss also includes a $108 million extraordinary gain primarily from open market purchases of the exchange debentures of RJR Nabisco Holdings Group Inc., as part of a recapitalization program announced in July.

For the first nine months of the year, the company reported a loss of $416 million on sales of $10.19 billion, compared with a loss of $832 million on sales of $9.23 billion a year ago.

International tobacco operations continued to record strong net sales and business unit contribution, with significant volume gains in Europe and Asia, the company said.