TBIN.10X.11.PROFITABLE, READ BELOW,AND THEIR PR TO MATCH.
1)The Company is planning on releasing 1st quarter (3/31/02) results by the end of the month=TOMORROW IS THE 29TH=BRING THE NUMBERS TBIN.
2)SMALL FLOAT.
3)The Company expects an increase in the net income for the 1st quarter (3/31/02) over that of the 4th quarter (12/31/01).WOW.
4)The Company expects revenues in the 1st quarter (3/31/02) to approximately double that of the 4th quarter (12/31/01)=
HOW ABOUT THAT?DOUBLE THE REVENUES?BRING IT ON TBIN.
THOROUGHBRED INTERESTS INC - 4th Quarter Net Income of Approximately $150,000
New York, New York, Apr 03, 2002 (Market News Publishing via COMTEX) -- THOROUGHBRED INTERESTS, INC. announces 4th quarter (12/31/01) net income of $147,997 versus $28,309 in the 3rd quarter (9/30/01). This represents over a 500% increase in net income. The Company expects an increase in the net income for the 1st quarter (3/31/02) over that of the 4th quarter (12/31/01).
Gross Profit in the 4th quarter (12/31/01) was $278,345 versus $140,171 in the 3rd quarter (9/30/01). This represents an increase in gross profit of nearly 200%. The Company expects an increase in the gross profit in the 1st quarter (3/31/02) over that of the 4th quarter (12/31/01).
Revenues in the 4th quarter (12/31/01) was $402,845 versus $304,371 for the 3rd quarter (9/30/01). This represents a 132% increase in revenues. The Company expects revenues in the 1st quarter (3/31/02) to approximately double that of the 4th quarter (12/31/01). The Company is planning on releasing 1st quarter (3/31/02) results by the end of the month.
Jim D. Tilton, Jr., Chairman and CEO of Thoroughbred Interests, Inc. stated, "Clearly the results of the 4th quarter and the projected increases for the 1st quarter show a positive trend of rising revenues, gross profit and net income. This is further validation to me of our business model and our ability to profitably execute our business plan."
4th Quarter Ending 12/31/01 3rd Quarter Ending 09/30/01
Revenues - $402,845 Revenues - $304,371 Cost of Horses Sold - $124,500 Cost of Horses Sold - $164,200 Gross Profit - $278,345 Gross Profit - 140,171 Total Operating and Total Operating and
Interest Expenses - $130,348 Interest Expenses - $111,862 Net Income - $147,997 Net Income - $28,309
ABOUT THE COMPANY
Louisville, Kentucky based Thoroughbred Interests, Inc. core business is acquiring undervalued thoroughbred horses and reselling them either as yearlings, two-year-olds in training or as a racing prospect. This is commonly referred to in the Thoroughbred Industry as "pinhooking." Management of the Company has established a network of experienced industry veterans to serve as advisors and to assist in seeking and assessing potential undervalued opportunities. Generally, the horses are acquired at public auctions managed by the leading auction companies such as Keeneland, Fasig Tipton and Ocala Breeders Sales Company. After being bought, the horses are boarded at top training centers and farms to be prepped for resale throughout the United States. Typically, the horses are resold within 6-8 months of being acquired or placed in training as a racing prospect with a top trainer. The Company presently has horses being trained by top trainers such as Scott Lake and Jerry Hollendorfer. They were ranked respectively #1 and #3 in the country by trainer wins in 2001 according to The Daily Racing Form. The Company currently owns 15 horses and has ownership interests in 3 others and is always looking to expand its stable.
SAFE HARBOR PROVISIONS
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates", "expects", "intends", "plans", "believes", "seeks", "estimates", or variations of such words are intended to identify such forward-looking statements. All forward-looking statements made in this press release are made as of the date hereof, and the Company assumes no obligation to update the forward-looking statements included in this news release whether as a result of new information, future events, or otherwise. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Please refer to the Company's Form SB-2 and other filings with the SEC for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov.
CONTACT: TEL: 502/584-4434 Jim Tilton, Thoroughbred Interests Inc.
Email: jtilton@mindspring.com
Website: www.thoroughbredinterests.com
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