(PR NEWSWIRE) ComTech Reports Fourth Consecutive Profitable Quarter
ComTech Reports Fourth Consecutive Profitable Quarter
HOUSTON, June 8 /PRNewswire/ -- ComTech Consolidation Group, Inc.,
(OTC Bulletin Board: CCGI) today reported 1st Quarter Revenue of $4,321,000.00
and net income of $697,000 or earnings per share of .04 for its 1st Quarter
ending March 31st. Reversing a loss of approximate $70,000.00 on Revenues of
less than $300,000.00 in the 1st Quarter of 1998.
Mr. Winfred Fields, ComTech chairman and chief executive officer, said:
"We continue to build on our successes of 1998 and enhance shareholder value.
With 1st Quarter earnings nearly matching our totals for all of 1998 we feel
very confident in the direction we have taken ComTech." Mr. Fields continued
"Based on the .59 a share closing price of ComTech's common shares on Monday,
we are trading at less than 15 times 1st Quarters earnings."
First Fiscal Quarter Ended
March 31, 1998 March 31, 1999 (Unaudited)
Revenues- $300,00 $4,321,000 +Over 1400%
Net Income ($70,000) $697,000 +Over 1100%
E.P.S. ($0.01) $.04 +Over 400%
About ComTech Consolidation Group Inc.
CCGI posted revenues of nearly $9,000,000.00 in Fiscal 1998, while posting
earnings of $715,000 or .05 a share. ComTech recently filed with the
Securities and Exchange Commission to become a Fully Reporting Company and is
currently evaluating the listing requirements of both the NASDAQ and American
Stock Exchanges in anticipation of filing an application for listing later
this year or early next year.
Statements regarding financial matters in this press release other than
historical facts are "forward looking statements" within the meaning of
section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The company intends that such statements about
the company's future expectations including future revenues and earnings, and
all other forward looking statements be subject to the safe harbors created
thereby. Since these statements (future operational results and sales)
involve risk and uncertainties and are subject to change at any time, the
company's actual results may differ materially from expected results.
SOURCE ComTech Consolidation Group, Inc.
-0- 06/08/99
/CONTACT: Diann Tongco, VP Investor Relations of Compass Point Group,
Inc., 619-525-0800, or email, dt@compasspointgroup.com/
(CCGI)
CO: ComTech Consolidation Group, Inc.
ST: Texas
IN: CPR HEA
SU: ERN
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