To: fiberman who wrote (2041 ) 6/9/1999 10:01:00 AM From: Sir Auric Goldfinger Read Replies (1) | Respond to of 2220
It's over! The Mo is no mo: "DJ JB Oxford Estimate 30% Growth Projected For Industry LOS ANGELES (Dow Jones)--JB Oxford Holdings Inc. (JBOH) said it expects growth of 30% or more in 1999. In a press release Tuesday, the discount and online brokerage firm said a 30% growth rate is projected for the industry as a whole. For the year ended Dec. 31, 1998, the company lost $1.1 million, or 8 cents a share including a non-cash charge of $1.8 million, or 13 cents a share, on revenue of $67.3 million. JB OXFORD SHAREHOLDERS APPROVE THREE PROPOSALS AT COMPANY'S 1999 6/8/99 16:17 Annual Meeting Christopher L. Jarratt, James G. Lewis, Mark D. Grossi, and David A. Mahood elected as company's directors LOS ANGELES, June 8 /PRNewswire/ -- At the company's Annual Meeting of Shareholders held June 4, the shareholders of JB Oxford Holdings, Inc. (Nasdaq: JBOH), a provider of discount and on-line brokerage services to clients nationwide, approved the elections of Christopher L. Jarratt, James G. Lewis, Mark D. Grossi and David A. Mahood as directors on the company's board; the company's 1998 Stock Option Plan and Award Plan; and the ratification of the appointment of Arthur Anderson LLP as the company's independent accountants for the fiscal year ending Dec. 31, 1999. After the close of the annual meeting, JB Oxford Holdings Chairman and Chief Executive Officer Christopher L. Jarratt stated in response to a question that in 1999 JB Oxford expects it will be able to meet or exceed the 30% growth projected for the industry. Mr. Jarratt reiterated that the company is focused on building its brand name among clients of on-line and discount brokerage services, as well as on pursuing acquisitions as an additional means to achieve growth. "We are talking to a number of companies in and out of the brokerage business," Mr. Jarratt said. "There are currently roughly 150 brokerages, and JB Oxford is bigger than about 130 of those." [yeah and too bad JBOH has no balance sheet that any respectabel broerkage frim would even consider getting near] Additionally, Mr. Lewis indicated that the company is in the process of designing and implementing web-site enhancements that should be deployed in July. On-line investors should benefit from the company's expanded content offerings, as well as navigational and functional improvements, Mr. Lewis said. JB Oxford Holdings, Inc., through its wholly owned subsidiary JB Oxford & Company, provides discount and on-line brokerage services, as well as correspondent clearing services, to clients throughout the United States. The company has branches in New York, Miami and Los Angeles. More information can be obtained from the company's web site at www.jboxford.com. This press release contains statements that are forward-looking and comments on market conditions, revenue growth, expense management, and outlook. Any number of conditions may occur which would affect important factors in this analysis and materially change expectations. These factors include, but are not limited to, known and unknown risks, customer trading activity, changes in technology, shifts in competitive patterns, decisions with regard to products and services, changes in revenues and profits, and significant changes in the market environment." In the old days, (two months ago) dodos like Frankie woulda been able to chat this effer up 2 points.