COLV - Cole Computer Corporation Announces Record Revenues for Second Quarter 2001
OKLAHOMA CITY, Aug 20, 2001 (BUSINESS WIRE) -- Cole Computer Corporation
(OTCBB:COLV), an Oklahoma City-based, nationally recognized, white box system
builder of personal computers ("Cole Computers" or the "Company"), announced
today preliminary financial results for its second quarter ended June 30, 2001.
The Company had record revenues of $2,764,485 for the three months ending June
30, 2001, as compared to revenues of $2,055,383 for the corresponding three
months ending June 30, 2000, an increase of $709,102 or 34%.
For the six month period ended June 30, 2001, revenues increased $958,595 or 21%
to $5,482,321 from $4,523,726 for the corresponding period of the previous year
due to the Company's strategic advertising and moving three retail outlets to
higher traffic areas. Walk-in traffic for these locations has increased by
approximately 25%.
For the fiscal quarter ended June 30, 2001, Cole Computer recorded net earnings
of $481. The profitable second quarter marks a dramatic turnaround from the net
loss of $855,009 for the corresponding period of the prior year.
For the six months ended June 30, 2001, the Company recorded net earnings of
$20,298, an increase of $1,177,283 from a net loss of $1,156,985 for the
corresponding period of the previous year. The reason for the increase in net
income for the first and second quarter is principally due to the increased
revenues, reduced selling expenses, and the reduced general and administrative
expenses.
About Cole Computer Corporation
Cole Computer Corporation builds and sells wholesale and retail "Ready-to-Go"
and customized personal computers. Each system is built with quality components
and given the Cole Computer personal touch. Additionally, the company sells
components to repair, upgrade or build complete personal computers. The Company
targets the home, business, professional, government and educational markets.
Cole Computer's corporate strategy combines the custom-designed personal
computer built to your specifications, coupled with the "small town"
personalized service. Cole Computer Corporation is an authorized AMD(R)
reseller. For more information on these goods and services, visit the Cole
Computer e-commerce Web site at okcmasters.com or one of the
company's 13 retail outlets operating under the trade name "Computer Masters" in
Oklahoma, Arkansas and "Your Computer Masters Store" in Texas. Quote for
referenced ticker symbols: COLV
Except for factual information contained herein, certain matters set forth in
this press release are forward-looking statements that are subject to the
uncertainties, including but not limited to government regulation, taxation,
spending, competition, general economic conditions and other risk factors.
CONTACT: Cole Computer Corporation, Oklahoma City
Brad Cole, 888/479-9093 or 405/491-7300
Fax: 405/491-7361
E-mail: brad.cole@colecomputer.net
or
Computer Masters Stores
John Ruth, 888/479-9093 or 405/491-7300
Fax: 405/491-7361
E-mail: john.ruth@colecomputer.net
or
Corporate Image Bureau
Juan Ferreira, 407/774-1529
Fax: 407/774-0437
E-mail: mwfsir@aol.com |
