Cala Corporation Announces Third Quarterly 450% Revenue Increase and
Its First Quarterly Profit
OKLAHOMA CITY--(BUSINESS WIRE)--Nov. 13, 2000--Joseph Cala, Chairman and CEO of Cala Corporation (OTCBB: CCAA - news) today announced
that revenues from continuing operations for the Third Quarter, 2000, were $1,184,745 vs. $215,515 for the same Quarter in 1999.
This 450% increase is due to Cala Corporations previously announced acquisition of the controlling interest of the San Giuseppe Molino Mill\Bakery, Etna (Il
Picciolo) Golf and Country Club and Pedana Costrufer construction company. Mr. Cala added that in the Third Quarter of 1999, Cala Corporation owned and
operated two Ground Floor Cafes in Oklahoma City, whereas in the Third Quarter of 2000 the company owned and operated only one Ground Floor Cafe. Mr.
Cala further announced that the net profit for the Third Quarter of 2000 was $139,238 vs. a loss of $113,062 for the same period in 1999. Year- to-date losses
through nine months of 2000 were $156,635 vs. $356,832 for the same period last year. Mr. Cala stated that these results reflect Cala Corporation's continuing
efforts to acquire profitable businesses that add earnings and revenue while the Undersea Resort is developing.
About Cala Corporation
Cala Corporation is a developer of international hospitality businesses with a corporate emphasis on the ownership, operation and management of hotels, resorts and
casinos. Cala Corporation is currently developing the Undersea Resort and Hotel project with proposed locations throughout the world.
The information in this news release includes certain forward-looking statements as defined in the ``Safe Harbor'' provision of the Private Securities Litigation Reform
Act of 1995. These statements are based upon assumptions that are subject to significant risks and uncertainties. Although the Company believes that the
expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any of its forward-looking statements will
prove to be correct. This press release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
Contact:
Cala Corporation, Oklahoma City
Jennifer Breland, 405/235-4960
info@calacorporation.com |
