KNSC(no surprise!) KENSINGTON ANNOUNCES AN 80% INCREASE IN NET PROFITS FOR 1999 IN COMPARISON
TO THE SAME PERIOD IN 1998
MINNEAPOLIS, Jul 29, 1999 /PRNewswire via COMTEX/ -- Kensington
International Holding Corporation (OTC Bulletin Board: KNSC) announced
today that Kensington had an 80% increase in net profits for the second
quarter of 1999 over the same period in 1998. The financial results
that are being reported to the SEC are as follows:
Second Quarter ended June 30, 1999
1999 1998 % Increase
Revenues $1,153,123 $ 933,764 +23%
Net Income $ 73,878 $ 41,018 +80%
Earnings per share $ 0.02 $ 0.01 +100%
Kensington's cash position increased 246%, in comparison to the same
period last year, to $305,839 from $124,095 in 1998. In addition,
Kensington's shareholders' equity has increased 239% during 1999, in
comparison to the same period in 1998. The Company's gross revenues for
the first six months of 1999 were $2,015,016 in comparison to
$1,831,009 for the same period in 1998. Kensington's management is
pleased to announce these 1999 increases in light of the 497% increase
it had in net income during 1998, as compared to1997.
(COMTEX) B: KENSINGTON ANNOUNCES AN 80% INCREASE IN NET PROFITS FOR 1
B: KENSINGTON ANNOUNCES AN 80% INCREASE IN NET PROFITS FOR 1999 IN COMPARISON
TO THE SAME PERIOD IN 1998
MINNEAPOLIS, Jul 29, 1999 /PRNewswire via COMTEX/ -- Kensington
International Holding Corporation (OTC Bulletin Board: KNSC) announced
today that Kensington had an 80% increase in net profits for the second
quarter of 1999 over the same period in 1998. The financial results
that are being reported to the SEC are as follows:
Second Quarter ended June 30, 1999
1999 1998 % Increase
Revenues $1,153,123 $ 933,764 +23%
Net Income $ 73,878 $ 41,018 +80%
Earnings per share $ 0.02 $ 0.01 +100%
Kensington's cash position increased 246%, in comparison to the same
period last year, to $305,839 from $124,095 in 1998. In addition,
Kensington's shareholders' equity has increased 239% during 1999, in
comparison to the same period in 1998. The Company's gross revenues for
the first six months of 1999 were $2,015,016 in comparison to
$1,831,009 for the same period in 1998. Kensington's management is
pleased to announce these 1999 increases in light of the 497% increase
it had in net income during 1998, as compared to1997.
Kensington is in the commercial fixture manufacturing and installation
business through Ives Design, Inc., which was awarded the United States
Chamber of Commerce 1999 Blue Chip Enterprise Initiative Award. In
addition, Kensington is also in the text-to-voice technology business,
through Mail Call, Inc. ( mailcall.net ) which allows users
to read and respond to their E-mails over a telephone, even if they do
not own a computer.
The preceding statements are made pursuant to the Private Securities
Litigation Reform Act of 1995, as amended, in order for the Company and
MAIL CALL, INC. to avail themselves of the "safe harbor" provisions of
that Act,as amended. Certain statements in this release and the
Company's and MAILCALL, INC.'s financial projections that are not
historical fact constitute "forward-looking information." Such
forward-looking information involves known and unknown risks,
uncertainties and other factors, which may cause the actual results of
the Company and MAIL CALL, INC. to be materially different from results
expressed or implied by such forward-looking information. Such risks,
uncertainties and other factors include, but are not limited to:
customer demand not meeting expectations; lack of consistent supply of
materials; lack of adequate distribution markets; the inability to
resell enough of the services; the loss of the right to resell or use
others products; adverse economic conditions; intense competition;
inadequate capital; unexpected costs; lower revenues and net income
than expected; loss of customers; price increases; failure to obtain
customers; the possible acquisition of a new business or products that
do not perform as anticipated; inability to carry out marketing and
sales plans; changes in interest rates; inflationary factors; inability
to meet customer demand and other specific risks that may be alluded to
in this press release or in other reports issued by the Company or MAIL
CALL, INC.
SOURCE Kensington International Holding Corporation
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com -0-
CONTACT: Mark Haggerty of Kensington International Holding
Corporation,
612-546-2075, fax 612-512-8451, TXTZ96A@AOL.COM, or
Ronald Schnell of Mail
Call, Inc., 954-437-4199 ext. 606, ronnie@mailcall.net
WEB PAGE: mailcall.net
GEOGRAPHY: Minnesota
INDUSTRY CODE: CST
TLS
CPR
SUBJECT CODE: ERN
OTC
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