NATS.. an interesting company that had its first positive quarter a few weeks ago offers intriguing possibilities in the next few weeks. Olympic Cascade Financial Corporation Reports Fiscal 1999 Year-End Financial Results.. marketgems.com
CHICAGO--(BUSINESS WIRE)--Dec. 16, 1999--Olympic Cascade Financial Corporation (Nasdaq: NATS and CHX: OLY) reported today that for the fiscal year ended September 24, 1999, the company had net income of $118,000, or $0.08 per share, on revenues of $43.3 million, compared to a net loss of ($4.7 million), or a loss of ($3.12) per share, on revenues of $45.7 million for the fiscal year ended September 25, 1998. Diluted shares outstanding were 1,563,499 and 1,496,634 for the 1999 and 1998 fiscal years, respectively.
For the fourth quarter ended September 24, 1999, Olympic Cascade reported net income of $134,000, or $0.08 per share, on revenues of $12.2 million, compared to a net loss of ($3.7 million), or a loss of ($2.46) per share, on revenues of $8.3 million for the fourth quarter ended September 25, 1998. Diluted shares outstanding were 1,699,632 and 1,503,097 for the 1999 and 1998 fourth quarters, respectively.
The prior fiscal year and prior quarterly results included revenues of $7.5 million and $0.4 million, respectively, attributable to two subsidiaries that have been sold.
Steven A. Rothstein, Chairman, President and Chief Executive Officer of the company, said, ''We are extremely pleased to report a profit for 1999. These results represent a significant turnaround from the prior year, and are attributable to the hard work of our employees and brokers.''
Rothstein added, ''We do not, however, plan to rest on these results. We will work to expand our business operations and continue our efforts to further reduce overhead costs.''
Olympic also announced that National Securities Corporation, a wholly-owned subsidiary, now provides customers the ability to obtain account information on the Internet. Additionally, the company expects to implement NSCdirect, its online investing services for its customers on the Internet, in the first calendar quarter of 2000. |
