Dalrada Financial Corp. Reports Fiscal 2004 Results
SAN DIEGO, Oct. 14 /PRNewswire-FirstCall/ -- Dalrada Financial Corporation (BULLETIN BOARD: DRDF) today announced that it filed its annual report for the fiscal year ended June 30, 2004 on Form 10-KSB.
Dalrada reported revenues of $13.5 million for the year ended June 30, 2004, a 257% increase over the prior year.
Annual revenues included $10.1 million from the Company's fast-growing temporary staffing business segment, including CallCenterHR(TM), Jackson Staffing, and M&M Nursing.
Dalrada's professional employer services (PEO) business segment also from the prior year to $2.6 million, an increase of 4.3%. from the 2003 fiscal year.
Dalrada reported a loss from operations for the year ended June 30, 2004 of $972 thousand versus a loss in the prior year of $4 million. However, the Company reported a net profit of $102 thousand ($0.01 per share on continuing operations) versus a loss of $6.9 million (0.07 per share on continuing operations) in the 2003 fiscal year.
During the third and fourth quarters of fiscal 2004, Dalrada has reduced its operating expenses while substantially increasing its sales. Dalrada has re-focused its efforts primarily on the growth of providing staffing services and ancillary financial services.
Brian Bonar, Chairman and CEO commented, "We are extremely pleased with our year-end results and are focused on continuing our efforts to provide greater revenues and profits. Over the past year we have significantly reduced our operating expenses and have accomplished a number of our goals to increase our financial services business," he added.
"Our initiatives into the professional staffing business have provided significant growth and hold great promise for the future," said Bonar.
About Dalrada Financial Corp.
Dalrada Financial Corporation (BULLETIN BOARD: DRDF) was founded in 1982. Headquartered in San Diego, California, the Company provides a variety of professional services related to human resources to businesses.
The Company's Jackson Staffing, Inc., M&M Nursing, and CallCenterHR(TM) subsidiaries are temporary staffing organizations, which provide full-service staffing services to specialized industries.
Dalrada's SourceOne Group(TM) and ProSportsHR(TM) subsidiaries are professional employer organizations that provide a variety of personnel and human resources services to small to medium-sized businesses.
The Company owns controlling interested in Quik Pix, Inc. (Pink Sheets: QPIX), a leading visual marketing support firm located in Buena Park, California. The company's patented PhotoMotion(TM) is a unique color medium of multi-image transparencies. QPIX also produces and distributes the ColorBlind(R) suite of software, which is devoted to color management for desktop and commercial printing and graphic arts.
Information on the Company and its subsidiaries is available at the Company's website -- dalrada.com.
Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.
For further information, please contact Brian Bonar, Chief Executive Officer of Dalrada Financial Corporation, +1-858-277-5300, bbonar@dalrada.com.
Dalrada Financial Corporation
CONTACT: Brian Bonar, Chief Executive Officer of Dalrada Financial
Corporation, +1-858-277-5300, bbonar@dalrada.com
Web site: dalrada.com |
