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Technology Stocks : CCGI: ComTech Consolidated -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey D who wrote (314)	6/8/1999 10:26:00 AM
From: EZ ED	Read Replies (3) \| Respond to of 394

(PR NEWSWIRE) ComTech Reports Fourth Consecutive Profitable Quarter ComTech Reports Fourth Consecutive Profitable Quarter HOUSTON, June 8 /PRNewswire/ -- ComTech Consolidation Group, Inc., (OTC Bulletin Board: CCGI) today reported 1st Quarter Revenue of $4,321,000.00 and net income of $697,000 or earnings per share of .04 for its 1st Quarter ending March 31st. Reversing a loss of approximate $70,000.00 on Revenues of less than $300,000.00 in the 1st Quarter of 1998. Mr. Winfred Fields, ComTech chairman and chief executive officer, said: "We continue to build on our successes of 1998 and enhance shareholder value. With 1st Quarter earnings nearly matching our totals for all of 1998 we feel very confident in the direction we have taken ComTech." Mr. Fields continued "Based on the .59 a share closing price of ComTech's common shares on Monday, we are trading at less than 15 times 1st Quarters earnings." First Fiscal Quarter Ended March 31, 1998 March 31, 1999 (Unaudited) Revenues- $300,00 $4,321,000 +Over 1400% Net Income ($70,000) $697,000 +Over 1100% E.P.S. ($0.01) $.04 +Over 400% About ComTech Consolidation Group Inc. CCGI posted revenues of nearly $9,000,000.00 in Fiscal 1998, while posting earnings of $715,000 or .05 a share. ComTech recently filed with the Securities and Exchange Commission to become a Fully Reporting Company and is currently evaluating the listing requirements of both the NASDAQ and American Stock Exchanges in anticipation of filing an application for listing later this year or early next year. Statements regarding financial matters in this press release other than historical facts are "forward looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the company's future expectations including future revenues and earnings, and all other forward looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. SOURCE ComTech Consolidation Group, Inc. -0- 06/08/99 /CONTACT: Diann Tongco, VP Investor Relations of Compass Point Group, Inc., 619-525-0800, or email, dt@compasspointgroup.com/ (CCGI) CO: ComTech Consolidation Group, Inc. ST: Texas IN: CPR HEA SU: ERN * end of story *