GEMCRAFT INC <GEMH> YEAR NET Shr 42 cts vs 1.21 dlrs Net 2,317,000 vs 5,847,000 Sales 360.0 mln vs 282.4 mln Avg shrs 5,463,000 vs 4,829,000 NOTE: 1986 net includes 4,700,000 dlr pretax charge from writedown of land and abandonment of land and pretax charges of 5,800,00 dlrs from pending rescission offer, settlements with U.S. agencies, adjustment of the prior booking of residuals arising from collateralized mortgage obligation bond issues, writedowns of land held by a joint venture, startup costs associated with entering new markets, an increase in reserves for customer service and writeoffs and reserves for mortgage-related receivables to reflect current market values.