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Non-Tech : J.B. Oxford -- Ignore unavailable to you. Want to Upgrade?

To: TigerII who wrote (1110)	2/19/1999 7:08:00 PM
From: Patherzen	Read Replies (1) \| Respond to of 2220

BEVERLY HILLS, Calif. (Dow Jones)--JB Oxford Holdings Inc., a controversial discount and online brokerage firm, had fourth-quarter earnings of about eight cents a diluted share compared with a year-ago loss of five cents a share, Christopher L. Jarratt, chairman and chief executive, told Dow Jones. Mr. Jarratt, who led a group that bought control of JB Oxford last year, said the company expected to report a loss for the full year of between 6 cents a share and 22 cents a share, due partly to a non-cash charge of between $1.8 million and $3.4 million. The charge is related to the acquisition by his group, he said. JB Oxford plans to release fourth-quarter and full-year results later this month. Revenues in the fourth quarter were about $19.4 million compared with $16.1 million in the year-ago period, Mr. Jarratt said. In the current quarter, the firm is 'on a pace to meet or exceed' fourth-quarter earnings, Mr. Jarratt said. In the year-ago first quarter, JB Oxford reported a loss of one cent a share. JB Oxford has received press attention in recent years due to its use of a convicted stock swindler, Irving Kott, as a consultant. As previously reported, the Federal Bureau of Investigation executed a search warrant in 1997 at JB Oxford's offices here. According to a recent company filing with the Securities and Exchange Commission, 'a focus of the investigation appears' to include Mr. Kott's activities at the firm. Mr. Kott couldn't be reached for comment. Mr. Jarratt said JB Oxford has severed all connections with Mr. Kott. He also said that he doesn't believe anyone currently at the firm is being looked at as part of the federal probe. Mr. Jarratt, a Nashville businessman, said that when he was looking to invest in JB Oxford he was concerned about the probe and bad publicity, but decided that those factors also offered a buying opportunity in an 'industry that had promise.' He said the most promising part of the business is online trading. Currently, JB Oxford's retail customers do about one in every four trades online. Mr. Jarratt said that share was about double the level of a year ago and predicted it could double again in the coming year. Mr. Jarratt said that about 60% of new accounts are signing up as online accounts as opposed to accounts serviced by brokers. JB Oxford has a total of about 115,000 retail accounts, he said. JB Oxford's online connection has apparently helped turn its stock into a volatile Internet play. In a several-day period earlier this year, the firm's stock zoomed to more than $25 a share from less than $5 in Nasdaq trading. Its daily volume sometimes exceeded 30 million shares even though the company only has about 12 million free-trading shares. JB Oxford is currently trading at about $7.75 a share. Mr. Jarratt said the company is looking to attract more online customers by doubling its annual advertising budget over the next year, to about $6 million. The company is also looking for possible acquisitions or alliances among the dozens of other online brokerage firms. 'We have had discussions' with some firms but there is 'nothing material at this point,' said Jamie Lewis, JB Oxford's president. (MORE) DOW JONES NEWS 02-19-99 02:23 PM

To: TigerII who wrote (1110)	2/19/1999 7:17:00 PM
From: Patherzen	Respond to of 2220

For Our Dear Auric... Before the world is your CRIM on JBOH.. NOW CAN YOU GIVE IT A REST????? JB Oxford has received press attention in recent years due to its use of a convicted stock swindler, Irving Kott, as a consultant. As previously reported, the Federal Bureau of Investigation executed a search warrant in 1997 at JB Oxford's offices here. According to a recent company filing with the Securities and Exchange Commission, 'a focus of the investigation appears' to include Mr. Kott's activities at the firm. Mr. Kott couldn't be reached for comment. Mr. Jarratt said JB Oxford has severed all connections with Mr. Kott. He also said that he doesn't believe anyone currently at the firm is being looked at as part of the federal probe. Mr. Jarratt, a Nashville businessman, said that when he was looking to invest in JB Oxford he was concerned about the probe and bad publicity, but decided that those factors also offered a buying opportunity in an 'industry that had promise.'