H-Quotient, Inc., Announces Record Earnings Increase of 255 Pecent for Six Months Surpass all of 2002 Profits
VIENNA, Va., Aug 20, 2003 (BUSINESS WIRE) -- H-Quotient, Inc., (OTC Bulletin
Board: HQNTE, HQNT) announced 2nd Quarter earnings of $1,079,345 or $.04 per
share compared with $422,840 or $.02 per share for the 2nd Quarter of 2002.
Total revenue was $1,262,642 for the quarter ending June 30, 2003, compared with
$536,033 for the same period in 2002. Expenses for the two periods were $183,297
and $113,193, respectively.
Total revenue for the six months ending June 30, 2003, was $2,277,353 compared
with total revenue for all of 2002 of $2,396,253. Net income for the six month
period was $1,859,126 compared with $1,264,927 for all of 2002.
The Company's net worth has grown to $10,100,259, including software -- the
Company's primary asset --at an amortized value of only $328,176, which is a
fraction of the its actual market value. Total liabilities have fallen to
$314,750.
President and CEO Douglas Cohn said, "The last six months have surpassed the
previous 12 months, revenue and earnings have doubled, the company has commenced
a dividend program, and this is just the beginning."
This announcement may contain, in addition to historical information, certain
forward-looking statements that involve risks and uncertainties. Such statements
reflect management's current views and are based on certain assumptions. Actual
results could differ materially from the assumptions currently anticipated.
For more information visit the H-Quotient web site at www.hquotient.com.
SOURCE: H-Quotient, Inc.
CONTACT: H-Quotient, Inc.
Kathryn Kennard, 703-821-3434
URL: businesswire.com
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KEYWORD: VIRGINIA PENNSYLVANIA
INDUSTRY KEYWORD: ADVERTISING/MARKETING
E-COMMERCE
INTERNET
SOFTWARE
HARDWARE
EARNINGS
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