NEWS: another profitable year ...
BOSTON, Jan 19, 2000 (BUSINESS WIRE) -- Chancellor Corporation
(OTC:CHLR) announced today that it will close out 1999 with another
profitable year. The Company anticipates 1999 revenues to be
approximately $60,000,000. Since the change in management and new
ownership the Company has had nine consecutive profitable quarters and
has grown top line revenues from just under $5,000,000 in 1997 to
approximately $60,000,000 in 1999.
Chancellor Chairman and CEO, Brian M. Adley commented on the Company's
year end results "We anticipate our year end numbers to be released in
March and have started 2000 with continued growth. E-commerce will
continue to strengthen our industry. The platform and unique
competitive advantage that we have developed will continue to improve
our results. Although 1999 results are positive; we are not yet
satisfied. We plan on continuing to build our management team around
our President and COO, Frank E. Churchill, and look forward to 2000."
Chancellor Corporation is spearheading an evolution in transportation
equipment finance through innovative financing and fleet management
programs. The Company seeks to reduce a customer's total holding cost
through its "Wholesale-Plus" lease pricing strategy and through other
value-added services, including asset management, equipment
maintenance, fuel management and data management strategies. Since its
founding in 1977, Chancellor has completed a total of approximately
$1.5 billion in equipment lease transactions for its Fortune 500 and
middle market customers in the U.S. and select international markets.
Chancellor is a transportation equipment finance and fleet management
solutions provider headquartered in Boston. The Company's Internet
address is chancellorcorp.com. The Company is publicly
traded under the symbol "CHLR".
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995:
The statements contained in this release which are not historical facts
may be deemed to contain forward-looking statements with respect to
events, the occurrence of which involve risks and uncertainties,
including, without limitation, demand and competition for the Company's
lease financing services and the products to be leased by the Company,
the continued availability to the Company of adequate financing the
ability of the Company to recover its investment in equipment through
remarketing, and other risks and uncertainties detailed in the
Company's Securities and Exchange Commission filings.
Copyright (C) 2000 Business Wire. All rights reserved.
Distributed via COMTEX.
-0-
CONTACT: Chancellor Corporation
(617) 368-2700
information@chancellorcorp.com
chancellorcorp.com
WEB PAGE: businesswire.com
GEOGRAPHY: MASSACHUSETTS
INDUSTRY CODE: TRANSPORTATION
BANKING
|
