(BSNS WIRE) United States Basketball League Announces Increase in Sales And
United States Basketball League Announces Increase in Sales And Earnings for
First Six Months of Fiscal `00
Business Editors
MILFORD, Conn.--(BUSINESS WIRE)--Dec. 4, 2000--The United States
Basketball League, Inc. (OTC: USBL) today announced revenues for year
endings February 29, 2000 of $553,021.
Net income rose to $44,888 or one cent (.01) a share versus a loss
of $160,965 or ($.05) cent a share, for the year ended February 28,
1999. The company had 3,483,502 shares outstanding as of August 31,
2000 with approximately 500,000 free trading shares.
"Our financials condition has improved dramatically because the
USBL did not operate any teams this past year and the company was able
to focus on generating revenue and long term objectives," said Daniel
T. Meisenheimer, President and Commissioner of the USBL. "Management
continues to focus on franchise expansion and building corporate
sponsorships and expanding the sale of merchandise through our on-line
store for fiscal 2001."
The League, which plays its games between late April and early
July, had 11 teams this past summer. The current price for a USBL
expansion teams franchise is $300,000.
The USBL is the first and only publicly traded professional sports
league. The "League of Opportunity" has sent some 130 players to the
National Basketball Association and more than 100 others to
professional contracts in Europe and Latin America.
More information can be found at the USBL web site www.usbl.com or
by contacting the USBL office at 203-877-9508.
This news release contains forward looking statements concerning
the future performance of the United States Basketball League, Inc.,
which are subject to a number of factors including, but not limited to
the ability to sell new franchises, and licensing and royalty
revenues.
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CONTACT: USBL Public Relations
203/877-9508
203/878-8109 FAX
Web Site: usbl.com |
