News April 6, 17:25 Eastern Time <Picture: News Provided by Comtex>
ABFG'S SALES EXCEED $1,200,000.00 FOR QUARTER ENDING MARCH 31, 1999 FOR
Internet and Wholesale Divisions.
DEERFIELD BEACH, Fla., April 6 /PRNewswire/ -- American Benefits Group, Inc. (OTC Bulletin Board: ABFG) released today their unaudited Sales figures for the 1st quarter of 1999 (3rd Quarter fiscal period ending March 31, 1999). The unaudited Gross Sales in excess of $1.2 million were realized from all aspects of the business operations of ABFG. The Gross Margin is estimated at $480,000 before any write downs of Research and Development costs. The concentrated sales forecast was achieved from sales in the Wholesale Gem Division. While Internet sales were favorable, the Wholesale Gem Division dominated the Sales segment. The combined numbers will be broken down in detail in the audited financial statements to be released in the near future.
The management of ABFG is very pleased with the Sales figures for the 3rd fiscal period and are optimistic that the 4th quarter for the fiscal period ending June 30, 1999 will be greater as Internet Sales will increase along with the continued operations.
ABFG will be holding a live Internet Broadcast at 4:00 PM EDT, Thursday, April 8, 1999. Additional details will be disclosed during the broadcast. The Internet Broadcast can be viewed on the Company's corporate website www.abfg.com or through its Internet Shopping Mall, www.rodeoisland.com.
American Benefits' Mission is to enhance shareholder value through the development of profitable business operations. American Benefits is an active and aggressive Company building and diversifying its portfolio through the development of new operations, the acquisition of profitable operations, the utilization of the most modern and advanced technology available and the maximization of the strengths of their employees.
Contact: Kelly B. Kellner, Investor Relations, American Benefits Group, Inc., 888-533-4555, or Info@abfg.com www.abfg.com
NOTE: This press release contains forward-looking information within the meaning of section 27A of the securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Such forward-looking statements by definition involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. In particular, there is no assurance that reserves, production, pricing levels or other factors pertaining to the mining, manufacturing and retail operations will be sustained at the expected rates or levels over time. Discussions of factors, which may affect future results, are contained in the Company's recent filings.
Under no circumstances does this Press Release constitute an offer to sell or a solicitation of an offer to buy the securities of the company described in this Press Release in which such offer, solicitation or sale of securities would be unlawful prior to registration, qualification or filing under the securities laws of any jurisdiction.
SOURCE American Benefits Group, Inc. |
