AutoCorp Equities (ACOR): Tiny Float+Upcoming PR push=$$$$ Message Board

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Microcap & Penny Stocks : AutoCorp Equities (ACOR): Tiny Float+Upcoming PR push=$$$$

ACOR 0.880

-13.8%

Apr 10 5:00 PM EST

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To: Warlock who wrote (190)	5/7/1998 3:38:00 PM
From: Warlock	Read Replies (2) of 231

Here's the release: Thursday May 7, 3:06 pm Eastern Time Company Press Release SOURCE: AutoCorp Equities, Inc. AutoCorp Reports First Quarter 1998 Results PHOENIX, May 7 /PRNewswire/ -- AutoCorp Equities, Inc. (OTC Bulletin Board: ACOR - news) today reported increased sales and revenue for the first quarter ended March 31, 1998. Revenue increased by $1.3M to $1.6 million for the quarter-ended March 1998 from $338,192 for the same period in 1997. The increase in revenues is primarily attributed to the increase in the number of motor vehicles sold in the period. The Company reported a net gross profit for the quarter and the first profitable month in the Company history for the month of March 1998. AutoCorp reduced its net loss for the quarter to $302,562 from losses in the previous two quarters of $3,740,045. ''Our financial performance this quarter reflects a turn around brought about by the installation of new management in January and company wide chances in personnel and systems,'' said Andrew J. Kacie, Chairman and Chief Executive Officer. AutoCorp is an automotive holding company that is establishing itself as a pioneering leader in the sale and financing of used motor vehicles to the non- prime market and presently operates six used vehicle sales facilities in Arizona and New Mexico. Future expansion includes the opening of two lots in Tucson that the company owns with plans to expand the Company's operations throughout the Southwestern United States. SOURCE: AutoCorp Equities, Inc.

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