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Castle Holding Corp. Announces Fiscal 1999 Results
Quarterly Revenues up 69%; Fiscal Year up 74%
FREEPORT, N.Y., Dec. 29 /PRNewswire/ -- Castle Holding Corp. (OTC Bulletin Board Symbol: CHOD) today
announced a substantial increase in revenues for the fourth quarter and fiscal year ended September 30, 1999. For the three
months ended September 30, 1999, Castle reported revenues of $782,175, a 69% increase over the $463,751 recorded in
the fourth quarter of fiscal 1998. The net loss was $78,114, compared to a net loss of $21,094 over the same period last
year. The loss per share for the three months ended September 30, 1999 was $(0.01) vs. $(0.01) for last years fourth
quarter.
For the fiscal year ended September 30, 1999, Castle reported revenues of more than $3.3 million; a 74% increase from the
$1.9 million in Fiscal 1998. The net loss was $63,865, as compared to a loss of $186,718 for fiscal 1998. The loss per share
for fiscal 1999 was $(0.01), as compared to a loss of $(0.04) for fiscal 1998.
CastleOnline
CastleOnline, designed for serious traders, provides customers the ability to order securities transactions and view executions
over the Internet. It targets frequent, experienced traders rather than casual, lower volume investors. CastleOnline provides
comprehensive real-time data and the fastest executions possible to its customers. Consequently, CastleOnline does not
compete directly with the larger online brokers for mass-market customers. Its value and appeal is to a more demanding,
more active sub-segment of the investment community. For the quarter ended September 30, 1999, CastleOnline customer
transactions totaled approximately 38,200, an increase from last year's comparable quarter of 18,611. As of September 30,
1999, CastleOnline had approximately 360 funded customer accounts, an increase over last year's 168. For more information
and to download a demo of the JavaTrader 2000, log on to castleonline.com.
Castle Holding Corp. (CHOD) specializes in the facilitation of E-Commerce and presently conducts substantially all of its
business through two subsidiaries, Castle Securities Corp. and Citadel Securities Corp. Castle Securities was incorporated in
New York on December 7, 1984 and operates as a broker-dealer in securities. Its businesses include the underwriting and
brokerage of fixed income and equity securities. Citadel Securities was incorporated in New York on April 11, 1991 and also
operates as a broker-dealer in securities. Citadel Securities makes markets in Nasdaq, OTC Bulletin Board and "Pink Sheets"
securities, has no retail customers, and conducts business exclusively with other broker-dealers.
Selected Financial Information for the Fiscal Period Ended September 30, 1999
INCOME STATEMENT
Three Three Fiscal Fiscal
Months Months Year Year
Ended Ended % Ended Ended %
Sept. 30, Sept. 30, Change Sept. 30, Sept. 30, Change
1999 1998 1999 1998
Revenues $782,175 $463,751 69% 3,309,663 1,899,699 74%
Net Income
(Loss) $(78,114) $(21,094) NM (63,865) (186,718) NM
Earnings
(Loss)
Per Share $(0.01) $(0.01) NM $(0.01) $(0.04) NM
Weighted Average
Number of Shares
Outstanding 5,828,017 4,976,400 17%
BALANCE SHEET
Total Assets $815,439 $483,940 69%
Total Liabilities $474,163 $383,799 24%
Stockholders' Equity $341,276 $100,141 241%
Private Securities Litigation Reform Act (Safe Harbor) - Except for historical information contained herein, the matters
discussed in this press release contain forward-looking statements that involve risks and uncertainties which are described in
the Company's SEC reports, including the annual report on Form 10-KSB for the period ended September 30, 1999. Please
visit castleholding.com.
SOURCE: Castle Holding Corp.
CONTACT: Mitchell G. Menik, Director of Investor-Public Relations of Castle Holding Corp., 516-868-2000 or 516-379-0400 or
mm@castleholding.com |
