Subject: Re: Yet Another Viewpoint
Date: 1/2/99 9:14 AM Eastern Standard Time
From: LQQX
Message-id: <19990102091410.27696.00005497@ng40.aol.com>
holloway writes:
<< ...the huge difference between the projected 110 million annual sales and their actual sales cannot be explained by the absence of Intile, as you claim. >>
It's too early to tell whether Daniel overstated annual revenues without INTILE, but focus that razor sharp mind on the fact that the year is not fully reported yet. There is a whole quarter missing, with CRC and UNLIMITED COATINGS to be included, as well as all the revenues from the other EDII companies. And it seems to me that we have to own these companies for a full year, and report results of
those revenues, before we can start claiming that Daniel's estimates were inflated.
From the October 30 press release:
<< Net Income for the quarter ended September 30, 1998 was $251,500 on revenues of $4,606,500. For the nine months then ended a net loss of $125,000 on revenues of $5,781,000 was incurred. This compares to a loss of $606,000 on revenues of $1,876,000 for the
comparable nine month period last year. The significant improvements in the third quarter and for 1998 are a direct result of the success of the Company's acquisitions completed over the past few months. Acqueren, Inc. and its wholly owned subsidiary, Northeastern Plastics, Inc. generated revenues of $3,936,000 and income of $320,000 since acquisition on June 30, 1998. The Company's other significant acquisition of Cinema Research Corporation was
completed in late September 1998 and its revenues and profits will be recognized by the Company in the fourth quarter of 1998. >>
From the September 10th CRC acquisition release:
<< The acquired companies projected annual revenues are approximately $10-$12 million and profitable. >>
Keep twisting around the clock, holloway. New year, old hat. Next week should be fun.
LQQX
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