Citicorp, the nation's largest bank, said that its earnings for the period plummeted 83 percent.
The earnings at his publicly held company have plummeted.
In the first quarter of 1993, which ended on April 30, earnings plummeted 47.7 percent from first-quarter 1992 earnings of $21.6 million.
Its earnings there before interest, taxes and charges plummeted 8.9 percent to £3.6 billion ($6.3 billion).
Analysts are concerned that earnings could plummet once Manufacturers Hanover runs out of such special gains to book.
Yesterday's report marked a turnaround from the disastrous last quarter of 1996, in which earnings plummeted 84.5 percent.
For 1987's first half, the company's earnings plummeted 60 percent, to $5.5 million, from $13.9 million a year earlier.
For the year, Dayton Hudson's earnings plummeted 26.9 percent, to $301 million, from $412 million in 1990.
Just a year after starting the strategy, Sears's sales were flat and earnings of its retail operations had plummeted 63 percent.
The impact was most apparent for Sohu.com, where third-quarter earnings plummeted to $2.7 million from the $7.5 million in the second quarter.