Another perfect Q !
Friday January 8, 2:21 pm Eastern Time
Company Press Release
SOURCE: Ammonia Hold, Inc.
Ammonia Hold, Inc. Achieves $2.1 Million Sales Run-Rate
LONOKE, Ark. Jan. 8 /PRNewswire/ -- Powered by increased distribution, Ammonia Hold, Inc. (OTC Bulletin Board: AMHD - news) announced today that its second quarter consolidated revenues were approximately $545,000, doubling 1997's second quarter revenues of $249,822. Based on second quarter sales, Ammonia Hold, Inc. has achieved a $2.1 million annualized sales level.
Consolidated revenues for the six month period ending December 31, 1998 were approximately $1,027,000 compared to actual revenues of $488,867 for the same period a year ago. Additional financial information will be released February 15, 1999.
During the second quarter, Ammonia Hold, Inc. repurchased 181,000 shares of its common stock in open market transactions. Announced in February 1998, the Board authorized a 1 million share repurchased of which a total of 302,000 shares have been repurchased as of December 31, 1998.
Also, during the second quarter, Ammonia Hold, Inc. saw the value of its 15% ownership of PetQuarters.com (OTC Bulletin Board: PDEN - news) increase from approximately $875,000 at the end of September to over $3,500,000 as of December 31, 1998. Announced in August 1998, Ammonia Hold, Inc. acquired 1,775,000 shares of PetQuarters.com in exchange for certain buildings and assets.
Michael D. Parnell, President and CEO, stated that, ''we are very please with the development of PetQuarters.com new web site, www.petquarters.com, and their recently announced revenues. PetQuarters.com experienced a strong holiday season benefiting from pet owners that chose to purchase on the Internet, and, as Amazon.com recently stated in their press release, ''shoppers seeking to save time and money, avoid holiday shopping hassles.'' Also, Petquarters.com secured a position as a ''Tenant'' within America Online's new Shopping Channel in October 1998 which significantly increased traffic to the web site. Ammonia Hold, Inc. continues to see PetQuarters.com as the Internet's premier site for pet owners and an avenue of distribution for our pet products that cannot be overlooked.''
The statements made in this release constitute ''forward-looking'' statements, usually containing the words ''believe,'' ''estimate,'' ''project,'' ''expect,'' or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward- looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
For more information, please contact Ed Schuchardt with investor relations at 800-513-9694 or Michael D. Parnell with Ammonia Hold, Inc. at 501-676-2994.
SOURCE: Ammonia Hold, Inc.
Boryh,
P.S. I think AMHD for real !!
|
