FREEPORT, N.Y., Dec. 29 /PRNewswire/ -- Castle Holding Corp.
(OTC Bulletin Board Symbol: CHOD) today announced a substantial increase in
revenues for the fourth quarter and fiscal year ended September 30, 1999. For
the three months ended September 30, 1999, Castle reported revenues of
$782,175, a 69% increase over the $463,751 recorded in the fourth quarter of
fiscal 1998. The net loss was $78,114, compared to a net loss of $21,094 over
the same period last year. The loss per share for the three months ended
September 30, 1999 was $(0.01) vs. $(0.01) for last years fourth quarter.
For the fiscal year ended September 30, 1999, Castle reported revenues of
more than $3.3 million; a 74% increase from the $1.9 million in Fiscal 1998.
The net loss was $63,865, as compared to a loss of $186,718 for fiscal 1998.
The loss per share for fiscal 1999 was $(0.01), as compared to a loss of
$(0.04) for fiscal 1998.
CastleOnline
CastleOnline, designed for serious traders, provides customers the ability
to order securities transactions and view executions over the Internet. It
targets frequent, experienced traders rather than casual, lower volume
investors. CastleOnline provides comprehensive real-time data and the fastest
executions possible to its customers. Consequently, CastleOnline does not
compete directly with the larger online brokers for mass-market customers.
Its value and appeal is to a more demanding, more active sub-segment of the
investment community. For the quarter ended September 30, 1999, CastleOnline
customer transactions totaled approximately 38,200, an increase from last
year's comparable quarter of 18,611. As of September 30, 1999, CastleOnline
had approximately 360 funded customer accounts, an increase over last year's
168. For more information and to download a demo of the JavaTrader 2000, log
on to castleonline.com.
Castle Holding Corp. (CHOD) specializes in the facilitation of E-Commerce
and presently conducts substantially all of its business through two
subsidiaries, Castle Securities Corp. and Citadel Securities Corp. Castle
Securities was incorporated in New York on December 7, 1984 and operates as a
broker-dealer in securities. Its businesses include the underwriting and
brokerage of fixed income and equity securities. Citadel Securities was
incorporated in New York on April 11, 1991 and also operates as a
broker-dealer in securities. Citadel Securities makes markets in Nasdaq,
OTC Bulletin Board and "Pink Sheets" securities, has no retail customers, and
conducts business exclusively with other broker-dealers.
Selected Financial Information for the Fiscal Period Ended September 30, 1999
INCOME STATEMENT
Three Three Fiscal Fiscal
Months Months Year Year
Ended Ended % Ended Ended %
Sept. 30, Sept. 30, Change Sept. 30, Sept. 30, Change
1999 1998 1999 1998
Revenues $782,175 $463,751 69% 3,309,663 1,899,699 74%
Net Income
(Loss) $(78,114) $(21,094) NM (63,865) (186,718) NM
Earnings
(Loss)
Per Share $(0.01) $(0.01) NM $(0.01) $(0.04) NM
Weighted Average
Number of Shares
Outstanding 5,828,017 4,976,400 17%
BALANCE SHEET
Total Assets $815,439 $483,940 69%
Total Liabilities $474,163 $383,799 24%
Stockholders' Equity $341,276 $100,141 241%
Private Securities Litigation Reform Act (Safe Harbor) - Except for
historical information contained herein, the matters discussed in this press
release contain forward-looking statements that involve risks and
uncertainties which are described in the Company's SEC reports, including the
annual report on Form 10-KSB for the period ended September 30, 1999. Please
visit castleholding.com.
SOURCE Castle Holding Corp.
-0- 12/29/1999
/CONTACT: Mitchell G. Menik, Director of Investor-Public Relations of
Castle Holding Corp., 516-868-2000 or 516-379-0400 or mm@castleholding.com/
/Web site: castleonline.com
/Web site: castleholding.com
(CHOD)
CO: Castle Holding Corp.; Castle Securities Corp.; Citadel Securities
ST: New York
IN: FIN
SU: ERN
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