KNGS - KINGSLEY COACH INC - Improved Revenue and Income Results for Fiscal Year Ended June 30, - 2001
New York, New York, Aug 21, 2001 (Market News Publishing via COMTEX) --
Kingsley Coach Inc. continues to report profits for the fourth quarter in a row.
The company announced preliminary unaudited revenue and earnings for fiscal year
ended June 30, 2001 with Earnings Per Share of .02 cents vs. a loss of (.07)
cents per share for the fiscal year ended June 30, 2000.
Revenues increased to $ 4,921,797.00 for the 12 month period vs. $1,129,976.00
for the Fiscal year ended (six months) ended June 30,2000. The company changed
from calendar year reporting to fiscal (6/30) reporting during the first quarter
of 2000.
Net income for the fiscal year ended June 30, 2001, was $152,131 vs. a loss of
($580,569.00) for the fiscal year ended June 30, 2000.
Ralph Dickenson, Chairman and CEO of Kingsley, noted that "management is pleased
to see the continuing dramatic improvement in revenue and earnings for the last
four quarters since they reflect the benefit of Kingsley's re-emphasis of its
sales and manufacturing operations, reduced costs, and improved profitability in
both its recreational and commercial sector markets." Mr. Dickenson also
observed that revenue increased 45% in fiscal 2000-2001 from the corresponding
12 month period in 1999-2000. Early indications are that the improvement in
Kingsley's earnings over the last four quarters also appears to be continuing
into the second half of the year 2001 and reflects management's efforts to
improve shareholder value.
Dickenson also said "This past year's performance demonstrates the increase we
have been projecting and we are confident of our ability to improve current
levels of sales for Kingsley Coach products . We are working vigorously to
improve our margins through economies of scale and quantitative buying. We
continue to take strategic action that will have a long-term positive impact and
we believe this will result in increased shareholder value. We at Kingsley
Coach, are committed to growth through sound fundamentals, and will continue to
strive for excellence in our industry." |
