Lets see how true this turns out to be first!
Firamada, Inc. Releases Pro Forma Projections
BusinessWire, Friday, May 08, 1998 at 16:02
NEW YORK--(BUSINESS WIRE)--May 8, 1998--Firamada
Forma projections for 1998 The future projections listed below
do not include anticipated income generated from the production of The Morton Downey, Jr. Show, Firamada's re-insurance of workman's compensation plans or Firamada's payroll financing division, all ofwhich are expected to be highly profitable.
FIRAMADA, INC. 1997 Balance Sheet: Period Ending Dec. 31, 1997
ASSETS:
-Cash $2,815,273
-Accounts Receivable $ 863,428
-Inventory $ 0
-Prepaid and Other $ 213,125
----------
Total Current Assets $3,891,826
-Property and Equipment $ 163,121
-Other Assets $1,875,000
----------
TOTAL ASSETS $5,929,947
LIABILITIES & EQUITY:
-Accounts Payable $ 83,128
-Accrued Expenses $ 0
-Other Current $ 355,641
----------
Total Current Liabilities $ 438,769
Long-Term Debt:
-Revolving $ 0
-Lease Finance $ 0
-Senior Term Debt $ 0
-Subordinated Debt $ 0
-Jr. Subordinated Debt $ 0
----------
Total Long-Term Debt $ 0
Other Long-Term Liabilities $ 76,480
----------
TOTAL LIABILITIES $ 515,249
EQUITY:
-Preferred Stock $ 0
-Common Stock $ 210,000
-Dividends $ 0
-Treasury Stock $ 0
-Additional Paid in Capital $2,734,193
-Retained Earnings $2,470,505
----------
TOTAL EQUITY $5,414,698
----------
TOTAL LIABILITIES & EQUITY $5,929,947
----------------------------------------------------------------------
PRO FORMA PROJECTIONS for years 1998 (includes Myriad
acquisition)
Forecast for
Year Ending Dec. 31. 1998
SALES:
(in thousands of $) 80,288
Cost of Goods Sold 69,141
Other CGS -
Consulting 0
----------------------------------------------------------------------
Gross Profit 11,147
Gross Margin 13.9%
----------------------------------------------------------------------
Operating Expenses:
-Selling 895
-General &
Administrative 3,250
S Corporate Expense 510
G R&D & Other
Operating 0
----------------------------------------------------------------------
Total Operating
Expenses 4,655
EBITDA 6,492
-Depreciation 110
-Amortization 35
EBIT 6,347
Interest or Other
(Income) Expenses
-Interest Expense 625
-Interest Income (268)
----------------------------------------------------------------------
Net Interest (Income)
Expense 357
Other (Income) Expense 0
Income Before Taxes 5,990
Income Tax (Credit)
Prov. 1,129
NET INCOME 4,861
This information relates only to the staffing portion of
Firamada's business. A hard copy of the balance sheet can be obtained by sending a written request to Firamada's corporate offices at:
Firamada, Incorporated
40 Wall Street - 32nd Floor
New York NY 10005
Firamada President Mr. Ira Monas commented on the figures stated
above, "The projections listed here do not include anticipated income generated from the production of The Morton Downey, Jr. Show,Firamada's re-insurance of workman's compensation plans or Firamada'spayroll financing division. These additional revenues should help us easily exceed the above projections. |
