(COMTEX) B: Kenwick Industries Inc. Reports a 208% Net Income Increas
B: Kenwick Industries Inc. Reports a 208% Net Income Increase for 9 Months 1999
FORT LAUDERDALE, Fla., Jan 4, 2000 (BUSINESS WIRE) -- Kenwick
Industries Inc. (OTCBB:KWIN) Tuesday released their financial
statements for nine months ended Sept. 30, 1999.
Some of the highlights included substantial increases in Net Sales, Net
Income, and Net Income Per Share.
KENWICK INDUSTRIES INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
NINE MONTHS ENDED SEPT. 30
1999 1998 % Increase
Net Sales $4,298,882 $2,978,541 + 44%
Interest Income $1,647,959 $ 236,470 +681%
Net Income Pre-Tax $1,460,703 $ 473,638 +208%
Net Income $ 876,422 $ 284,183 +208%
Basic Net Income Per Share $ 0.18 $ 0.07 +157%
Diluted Net Income Per Share $ 0.15 $ 0.07 +114%
"Kenwick Industries Inc. continues its focus on increasing
shareholder value. We anticipate that the year 2000 will be a banner
year for us," said Kenneth Wulwick, president and CEO.
Kenwick Industries is a multi-industry corporation whose core business
is automobile sales and financing. Kenwick also manages a language
program with distribution to institutions and consumers.
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. Certain information included in
this press release (as well as information included in oral statements
or other written statements made or to be made by Kenwick) contains
statements that are forward-looking. Such forward-looking information
involves important risks and uncertainties that could significantly
affect anticipated results in the future and, accordingly, such results
may differ from those expressed in any forward-looking statement made
by or on behalf of Kenwick. These risks and uncertainties include, but
are not limited to, those relating to development and expansion
activities, dependence on existing management, financing activities,
and market competition factors.
Copyright (C) 2000 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: Stockbroker Relations Inc., Orlando, Fla.
Marc Jablon, 800/546-7950
or
Kenwick Industries Inc., Fort Lauderdale
Kenneth Wulwick, 800/822-4122
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