Read the following Earning report, It's good news for JBOH.
Company Press Release
SOURCE: M. H. Meyerson & Co., Inc.
MHMY Announces 4th Quarter and Year End
Financial Results
JERSEY CITY, N.J., Feb. 18 /PRNewswire/ -- M. H. Meyerson & Co., Inc. (Nasdaq: MHMY - news; approximate price
$5-1/4) today announced unaudited net income, after full provisions for state and federal taxes, for the fourth quarter ended
January 31, 1999 was $1,949,576, or $0.35 per share, with revenue of $14,172,611. This corresponds to a loss of
($860,398), or ($0.17) per share and $5,060,091 revenue reported for the comparable quarter last year.
Preliminary net income, after full provisions for state and federal taxes, for the year ended January 31, 1999 of $236,448, or
$0.04 per share, compared with a net loss of $(1,719,464), or $(0.34) per share reported for the year ended January 31,
1998. The Company derived revenue of $33,879,822 for the fiscal year ended January 31, 1999 as compared with
$27,457,564 for the prior fiscal year. Average shares outstanding for the year and quarter ended January 31, 1999 were
5,543,784 and 5,547,997 respectively, while average shares outstanding for the year and quarter ended January 31, 1998
were 5,032,262 and 5,043,868.
Martin H. Meyerson, Chairman, stated that he was pleased that the firm attained record profits and increase in revenues in the
fourth quarter. This was the result of a rise in trading volume which is credited in large part to the explosion in internet trading
activity. He also stated that the previously announced implementation of the Emeyerson.com, Inc. subsidiary was proceeding on
schedule.
For the calendar year ended December 31, 1998, M. H. Meyerson & Co., Inc. stood 24th in trading volume among all U.S.
market making firms in Nasdaq and over-the-counter stocks based on figures derived from information obtained from Autex,
Inc., a provider of statistical information to the securities industry.
Three months ended Fiscal year ended
January 31, January 31,
1999 1998 1999 1998
Revenue $14,172,611 $5,060,091 $33,879,822 $27,457,564
Net Income $1,949,576 $(860,398) $236,448 $(1,701,228)
Per Share $0.35 $(0.17) $ 0.04 $(0.34)
Average Shares 5,547,997 5,043,868 5,543,784 5,032,262
M. H. Meyerson & Co., Inc. is a full service international financial
services firm, with seven separate divisions: Wholesale Trading,
Correspondent Services, Fixed Income Services, Institutional Sales,
Syndicate, Retail Services, and Investment Banking. |
