Hey Mr. Speed, what is your favorite BB these days??
Well SSCP was at 5/8ths a few months ago:-)))))))
DNAP was too at 4c:-))))))
I really like TCGI right now....Float is only 400k and I've seen TCGI move up $2.00 a share a few weeks...Read a few of their old news releases...WOW! TCGI has already went from $5.00 to $8.00 with no problem..Why did it go up, I have no idea..
SOME NEWSRELEASES FROM TCGI..
We
estimate that revenues could exceed several hundred million dollars
over the next few years." Stated Bernie Lillis, The Group's Chief
Financial Officer. "We are elated to bring this new source of revenue
and growth to our shareholders," he added
Applies to -- TCGI
The Classica Group Reports 1999 Earnings and Identifies Future Growth Plan
The Classica Group Reports 1999 Earnings and Identifies Future Growth
Plan
LAKEWOOD, N.J., Apr 16, 2000 (BUSINESS WIRE) -- The Classica Group, Inc.
(NASDAQ: TCGI) today announced that it reported net sales for the year ended
December 31, 1999 were $11,702,540 compared with $12,754,266 in 1998, a decrease
of $1,051,726, or 8.2%. This decrease is the result of a reduction in sales of
$1,274,198 or 28.7% at the Company's Deli King subsidiary, partially offset by
an increase of $408,500 or 5.0% in CCI's net sales. The reduction in net sales
at the Deli King subsidiary resulted from the abandonment of the direct store
delivery division (JR's Delis, Inc.) at the end of 1998, and the loss of a
significant number of independent caterers who left to move to a commissary with
a location closer to the area serviced by their routes. Subsequent to year-end,
Deli King has taken steps to move its operation. Management believes that this
move will improve the profitability of the mobile catering business by
substantially increasing its revenues. The increase in revenues at CCI was
primarily the result of an increase in the volume of sales of imported cheese
products and CCI's own grated and shredded cheese products.
The Classica Group generated gross profit of $2,577,291 or 22.0% of net sales in
1999, verses $3,003,253 or 23.5% of net sales in 1998. The decrease in gross
profit margin was the result of a reduction in gross profit of $406,552 or 50.8%
at the Deli King subsidiary. CCI's gross profit increased to $2,202,312 or 25.7%
of net sales in 1999 compared to $2,035,694 or 24.9% of net sales in 1998, an
increase of $166,618. CCI's gross profit will continue to increase as CCI
continues to increase sales volume and shift its product mix to maximize
profitability.
Selling, general and administrative expenses were $2,617,338 and $2,191,187 in
1999 and 1998, respectively. This represents an increase of $426,151 or 19.4% of
net sales. This increase is the result of increased sales efforts at the Deli
King subsidiary resulting from an attempt to increase wholesale business as a
result of the loss of caterers due to the geographic location of its commissary.
The increased costs at the CCI subsidiary also resulted from accelerated
marketing efforts. In 1999 CCI added a Vice President-Marketing & Sales (a new
position). Other non-recurring sales costs resulted from engaging the services
of an outside professional firm to undertake a completely new brand design to
unite all of CCI's products under the Cucina Classica(tm) brand, and, the
development of totally new uniform packaging and companion sales literature to
enhance brand identification. In the fourth quarter a write-off was taken for
CCI's inventory of its old labels, packaging, and sales literature that were
replaced by the new brand design. CCI also incurred non-capital development
costs for an e-commerce website that the Company expects to be operational in
mid-2000.
Results from operations for the year ended December 31, 1999 was a loss of
$(797,913) versus income of $329,759 in 1998. This represents a reduction of
$1,127,672 of which $705,000 resulted from a non-cash write-down for the
impairment of certain long-lived assets and identifiable intangible assets at
Deli King. Additionally, $52,866 resulted from the loss on the abandoned
operation at Deli King. CCI's results from operations for 1999 were $959,375
compared to $904,419 in 1998, an increase of $54,956.
FUTURE GROWTH PLAN - The Classica Group has exciting news for its shareholders
about its microwave technology business. Management believes this new subsidiary
will enhance our shareholder value dramatically, while providing many new
solutions to the food industry, such as extending shelf life, and providing
bacterial integrity of food products.
Classica Microwave Technologies, Inc. ("CMT"), Classica's new subsidiary that
became fully active in the first quarter of 2000, is currently testing microwave
systems for use in food processing. This technology has been successfully used
in Italy, and Japan for some time. CMT has engaged the services of one of
Italy's foremost experts in this field, an engineer who has been one of the
pioneers in the development of microwave technology. CMT is anticipating the
delivery of its first laboratory system in early May of 2000. This first system
will have the ability to develop and test food products for companies looking to
ensure the bacterial integrity of their products. In addition, CMT's engineer
has been successful in designing a microwave system capable of drying various
food products. We anticipate installing a second laboratory system utilizing
this drying process.
CMT's system will provide longer fresh refrigerated and non-refrigerated shelf
life without dependency on additives or preservatives of any kind. It will also
give us the ability to develop new products for the expansion of the product
lines of our other companies.
CMT's management has identified several revenue sources for the new Company,
including: the development of food products having bacterial integrity and
extended refrigerated and non-refrigerated shelf life, the sale of systems to
food processors concerned about the bacterial integrity of their products, and
strategic joint ventures for product development and sales with existing food
processors.
Management believes that the future growth of the Company will be the result of
five efforts; (1) the operations of the Company's new Classica Microwave
Technologies, Inc. subsidiary (2) acquisition of other companies in the food and
food related industries, (3) increasing sales to existing customers by offering
new products and product lines, (4) obtaining new customers in the existing
markets developing new markets via current marketing channels and the internet,
and (5) controlling and containing production, operating and administrative
costs.
The Classica Group, Inc.'s Cucina Classica Italiana subsidiary imports and
produces under license Italian specialty cheeses and other premium specialty
foods, including the world-renowned brands from Egidio Galbani S.p.A. The
Classica Group's Deli King, Inc. subsidiary is a food processor and distributor.
It services mobile caterers and distributes it products to vending and food
service companies in Southern New England.
Except for historical information contained herein, the matters discussed in
this news release are forward looking statements that involve risk and
uncertainties. The forward-looking statements in this release are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Actual results may differ materially due to a variety of factors,
including without limitation the presence of competitors with broader product
lines and greater financial resources; intellectual property rights and
litigation; needs of liquidity; and the other risks detailed from time to time
in the company's reports filed with the Securities and Exchange Commission.
THE CLASSICA GROUP, INC. AND SUBSIDIARIES
Consolidated Statements of Operations
For the Year Ended
December 31,
-----------------------------------
1999 1998
---- ----
Net sales $ 11,702,540 $ 12,754,266
Cost of sales 9,125,249 9,751,013
-----------------------------------
Gross profit 2,577,291 3,003,253
Selling, general and
administrative expenses 2,617,338 2,191,187
Impairment of long-lived assets 705,000 -
Loss on abandoned operation 52,866 482,307
-----------------------------------
(Loss) income from operations (797,913) 329,759
Interest expense - net 297,810 274,591
-----------------------------------
(Loss) income before income taxes (1,095,723) 55,168
Income taxes 28,000 31,000
-----------------------------------
Net (loss) income $ (1,123,723) $ 24,168
===================================
EARNINGS PER COMMON SHARE
BASIC & DILUTED
Net (loss) income $ (1.11) $ 0.02
===================================
Basic weighted average shares used in computation
1,009,333 980,361
Diluted weighted average shares
used in computation 1,009,333 1,023,539
Distributed via COMTEX.
Copyright (C) 2000 Business Wire. All rights reserved.
-0-
CONTACT: The Classica Group, Inc., Lakewood
Scott Halperin, Chairman & CEO
1-(800) 524-2713
KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: FOODS/BEVERAGES
EARNINGS
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
Applies to -- STGA -- TCGI
The Classica Group Reports First Quarter Earnings and Emphasizes Future Growth Plan
The Classica Group Reports First Quarter Earnings and Emphasizes Future
Growth Plan
LAKEWOOD, NJ, May 12, 2000 (BUSINESS WIRE) -- The Classica Group, Inc. (NASDAQ:
TCGI) today announced that it reported net sales for the three months ended
March 31, 2000 were $2,622,062 compared with $2,762,182 in 1999, a decrease of
$140,120 or 5.1%. This decrease is the result of a reduction in sales of $77,844
or 10.0% at the Company's Deli King subsidiary, and $111,388 or 5.7% at CCI. The
reduction in net sales at the Deli King subsidiary resulted from the loss of a
significant number of independent caterers who left to move to a commissary with
a location closer to the area serviced by their routes. In the first quarter of
2000, Deli King has taken steps to move its operation. The move is on schedule
to be completed by the end of the second quarter. Management believes that this
move will improve the profitability of the mobile catering business by
substantially increasing its revenues resulting from sales to additional
caterers at a more favorable location. The decrease in revenues at CCI was
primarily the result of a delay in the sale of imported cheese products due to
the timing of the Easter and Passover holidays in 2000. The shortfall should be
made up in the second quarter.
The Company generated gross profit of $590,962 or 22.5% of net sales in 2000,
vs. $821,587 or 29.7% of net sales in 1999. The decrease in gross profit margin
was the result of a reduction in gross profit of $117,464 or 69.9% at the Deli
King subsidiary. Deli King's gross margin decreased because a substantial
portion of their cost of sales are fixed costs. CCI's gross profit decreased to
$468,252 or 25.3% of net sales in 2000 compared to $630,522 or 32.1% of net
sales in 1999, a decrease of $162,270. CCI's gross profit in the quarter
decreased primarily as the result of the lower import sales in the period
causing the product mix to skew toward the lower margin domestic products.
Selling, general and administrative expenses were $670,158 and $618,478 in 2000
and 1999, respectively. This represents an increase of $27,516 or 1.1% of net
sales. This increase is the result of increased costs at the Deli King
subsidiary resulting from an attempt to increase wholesale business as a result
of the loss of caterers due to our undesirable location, and costs related to
our new CMT division.
The Company generated a net loss of $152,851 for the three months ended March
31, 2000 versus income of $78,598 for the same period in 1999. This represents a
reduction of $231,449. Deli King's results from operations for 2000 were a loss
of $(247,271) compared to a loss of $(137,250) in 1999. CCI's results from
operations for 2000 were $157,934 compared to $309,233 in 1999.
Interest expense was $69,225 and $63,145 for the three-months ended March 31,
2000 and 1999, respectively. The increase is the result of capital leases, which
were entered into after the first quarter of 1999.
The Company reported no provision for Federal income taxes for the three month
periods ended March 31, 2000 and 1999, as the Company had a net loss for 2000
and taxable operating earnings were offset by net operating loss carry forwards
in 1999. The Company reported a provision for state income taxes of $4,400 and
$8,500 for the three-month periods ended March 31, 2000 and 1999, respectively.
Results for 1999 include the operations of wholly-owned subsidiaries Deli King,
Inc. and Cucina Classica Italiana, Inc.
The Classica Group has exciting news for its shareholders about its microwave
technology business. Management believes this new subsidiary will enhance our
shareholder value dramatically, while providing a solution to the food industry.
Classica Microwave Technologies, Inc. ("CMT") is currently testing microwave
processing systems for use food processing. CMT is anticipating the delivery of
its first laboratory system in early June of 2000. This system will have the
ability to develop and test food products for companies looking to ensure the
bacterial integrity of their products. In addition, CMT's engineer has been
successful in designing a microwave system capable of drying various food
products. We anticipate installing a second laboratory system utilizing this
drying process.
The above system will provide longer fresh refrigerated and non-refrigerated
shelf life without dependency on additives or preservatives of any kind. We will
also have the ability to develop new products for the expansion of the product
lines of our other companies.
CMT expects to have several revenue sources including; the development of food
products having bacterial integrity and extended refrigerated and
non-refrigerated shelf life, the sale of systems to food processors concerned
about the bacterial integrity of their products, and strategic joint ventures
for product development and sales with existing food processors.
Management believes that the future growth of the Company will be the result of
five efforts; (1) the operations of the Company's new Classica Microwave
Technologies, Inc. subsidiary (2) acquisition of other companies in the food and
food related industries, (3) increasing sales to existing customers by offering
new products and product lines, (4) obtaining new customers in the existing
markets developing new markets via current marketing channels and the internet,
and (5) controlling and containing production, operating and administrative
costs.
The Classica Group, Inc.'s Cucina Classica Italiana subsidiary imports and
produces under license Italian specialty cheeses and other premium specialty
foods, including the world-renowned brands from Egidio Galbani S.p.A. The
Classica Group's Deli King, Inc. subsidiary is a food processor and distributor.
It services mobile caterers and provides social catering services as well as
food distribution to vending and food service companies in Southern New England.
Except for historical information contained herein, the matters discussed in
this news release are forward looking statements that involve risk and
uncertainties. The forward-looking statements in this release are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Actual results may differ materially due to a variety of factors,
including without limitation the presence of competitors with broader product
lines and greater financial resources; intellectual property rights and
litigation, needs of liquidity; and the other risks detailed from time to time
in the company's reports filed with the Securities and Exchange Commission.
THE CLASSICA GROUP, INC. AND SUBSIDIARIES
(FORMERLY SARATOGA BRANDS INC. AND SUBSIDIARIES)
Consolidated Statements of Operations (Unaudited)
For the Three Months Ended March 31, 2000 and 1999
March 31,
2000 1999
---------------------------------
Net sales $ 2,622,062 $ 2,762,182
Cost of sales 2,031,100 1,940,595
---------------------------------
Gross profit 590,962 821,587
Selling, general and administrative
expenses 670,158 618,478
Loss on abandoned operation - 52,866
---------------------------------
(Loss) income from operations (79,196) 150,243
Interest expense - net 69,255 63,145
---------------------------------
(Loss) income before taxes (148,451) 87,098
Income tax provision 4,400 8,500
---------------------------------
Net (loss) income ($152,851) $ 78,598
=================================
EARNINGS PER COMMON SHARE
BASIC & DILUTED
Net (loss) income ($0.13) $0.08
=================================
Basic weighted average shares used
in computation 1,155,295 1,009,333
Diluted weighted average shares
used in computation 1,155,295 1,009,333
Distributed via COMTEX.
Copyright (C) 2000 Business Wire. All rights reserved.
-0-
CONTACT: Scott Halperin, Chairman & CEO
The Classica Group, Inc.
1-(800) 524-2713
KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: FOODS/BEVERAGES
RETAIL
EARNINGS
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
Applies to -- TCGI
The Classica Group Preserves Nasdaq Listing by Effecting a Reverse Stock Split
The Classica Group Preserves Nasdaq Listing by Effecting a Reverse
Stock Split
LAKEWOOD, NJ, Oct 5, 1999 (BUSINESS WIRE) -- The Classica Group, Inc.
("The Group") (NASDAQ: TCGI) today announced that effective October 6,
1999 The Group will effect a 5 for 1 reverse stock split of its shares
and The Group's symbol will change to "TCGID" for 30 days. Subsequent
to the reverse approximately 1,010,000 shares will be outstanding, with
a per share book value in excess of $3.87 and year-to-date earnings
through the second quarter of 20 cents per share.
"Our continued listing on The NASDAQ Stock Market is essential in
providing for maximum value for the Group's shareholders." Stated Scott
Halperin, The Group's Chairman and CEO. "After considerable evaluation
of all of The Group's options, we are confident that this reverse split
is in the best interest of our shareholders," he added.
The Group now operates three businesses. The first being Cucina
Classica Italiana, Inc. ("CCI") which imports and produces under
license Italian specialty cheeses and other premium specialty foods,
including the world-renowned brands from Egidio Galbani S.p.A. CCI has
just completed a complete re-design of its packaging and labels. "We
look forward to introducing our new look to consumers this fall,"
stated Bob Castellano, CCI's President. "Our new labels are hot,
innovative and consumer friendly," he added.
The Group's second business is Mobile Caterers, Inc. ("MOBILE") which
is a food processor and distributor that services mobile caterer and
vending accounts in the southern New England states. MOBILE is
currently evaluating the possibility of expanding its distribution
through the use of a microwave system designed by The Group's microwave
technology segment.
The Group's third business is Classica Microwave Technologies, Inc.
("CMT"), which is involved in the application of microwave technology
for the food processing industry. This technology will ensure bacterial
integrity along with providing longer shelf life to processed foods,
which we believe will open many sources of revenue for The Group, These
revenue sources include the development of food products having
bacterial integrity and extended refrigerated and non-refrigerated
shelf life, the sale of systems to food processors concerned about the
bacterial integrity of their products, and strategic joint ventures for
product development and sales with existing food processors. We
estimate that revenues could exceed several hundred million dollars
over the next few years." Stated Bernie Lillis, The Group's Chief
Financial Officer. "We are elated to bring this new source of revenue
and growth to our shareholders," he added.
Except for historical information contained herein, the matters
discussed in this news release are forward looking statements that
involve risk and uncertainties. The forward-looking statements in this
release are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially due to a variety of factors, including without limitation
the presence of competitors with broader product lines and greater
financial resources; intellectual property rights and litigation, needs
of liquidity; and the other risks detailed from time to time in the
company's reports filed with the Securities and Exchange Commission.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
-0-
CONTACT: The Classica Group, Inc.
Scott Halperin, Chairman & CEO
800/524-2713
WEB PAGE: businesswire.com
GEOGRAPHY: NEW JERSEY
INDUSTRY CODE: FOODS/BEVERAGES
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
DISCLAIMER:
THIS POST BY ME IS DEFINITELY NOT A BUY RECO ON TCGI..I OWN THE STOCK BECAUSE I BELIEVE IT'S UNDERVAULED AND HAS NO FOLLOWING...TCGI COULD DROP IN VALUE DO TO A NUMBER OF REASONS..PLEASE CALL THE COMPANY AND DO YOUR OWN DD...AGAIN, THIS IS DEFINITELY NOT A BUY RECO ON TCGI |
