NXTI second quarter earnings.
News for 'NXTI' - (Next, Inc. Announces Second Quarter Revenue Increase of
136% Over Same Period Last Year!)
CHATTANOOGA, Tenn., Jul 14, 2003 (BUSINESS WIRE) -- Next Inc. (OTCBB:NXTI)
announces their financial results for the fiscal quarter and six months
ended
May 31, 2003.
Next, Inc. reports revenues of $5,131,944 for the fiscal quarter ended May
31,
2003, an increase of 136%, compared to $2,177,383 for 2002. Gross profit
increased by 160% to $1,425,655 (27.8% of sales) in 2003 compared to
$547,298
(25.1% of sales) in 2002. Next had operating income of $360,583 in 2003
compared
to $84,922 in 2002. The Company reports net income of $143,398 and
earnings per
share of $0.01 for the quarter ended May 31, 2003 compared to a loss of
($714)
for the quarter-ended May 31, 2002.
Next, Inc. reports revenues of $8,837,254 for the six months ended May 31,
2003,
an increase of 112%, compared to $4,160,427 for 2002. Gross profit
increased by
152% to $2,628,427 (29.7% of sales) in 2003 compared to $1,041,797 (25% of
sales) in 2002. Next had operating income of $417,250 in 2003 compared to
a loss
of ($266,334) in 2002. The Company reports net income of $110,261 and
earnings
per share of $0.01 for the six months ended May 31, 2003 compared to a
loss of
($220,227) for the same period in 2002.
Mr. Dan Cooke, Chairman of the Board and CEO, stated, "The positive second
quarter results are representative of the significant planning and efforts
taken
by the Company's management to enhance the Company's revenue base and
increase
shareholder value. During the remaining fiscal 2003, we expect the Company
to
continue its internal growth trend, report positive net income and further
expand through acquisitions, such as the Lil Fan acquisition. We believe
that
the Company is positioned to show significant shareholder value to its
investors." |
