Today WCAP tomorrow...
GNII-more great earnings coming
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siliconinvestor.com
GLOBENET SALES INCREASE 137% WITH RECORD EARNINGS
Business Wire
Oct 27 1998 4:57PM ET
Business Editors
DALLAS--(BUSINESS WIRE)--Oct. 27. 1998--GlobeNet International (OTC BB:GNII) reported a 137% increase in sales to $7,770,000 in the third quarter ended September 30, 1998 compared to sales of $3,279,000 in the same quarter last year, and earnings from continuing operations of $245,000, or $.02 per share, in the third quarter this year, compared to a loss from continuing operations of $226,000, or $.02 per share, for the same period last year.
Clinton Howard, CEO, attributed the earnings gain to rising sales in the Company's Royal BodyCare U.S., Canadian and International divisions of 1) Microhydrin(TM), a potent antioxidant, 2) Eye-Q(TM), a vegetarian DHA, which is essential to brain and eye development, but low in the American diet, and 3) FirstFood(TM), the exclusive microclustered form of Colostrum, a dietary supplement which supports the immune system.
GlobeNet, and its U.S. Royal BodyCare, U.S. division have leased a 119,000 sq. ft. building in Las Colinas, Irving, Texas, where its home office and warehouse will relocate on November 16, 1998.
The Company also reported that its attorneys are preparing a registration statement to be filed with the SEC to spin off its subsidiary, Great Xpectations (GX) with the issuance of one registered share of GX for each two shares of GlobeNet to shareholders of record on June 5, 1998. For accounting purposes, this spin off was effective at the close of business on June 30, 1998. The Company has classified the operations of GX as discontinued operations in its financial statements.
Royal BodyCare (RBC) sells technically advanced nutritional supplements, and Royal Botanica skin care products, for health and longevity, into 27 countries through 89,000 international distributors, shipped from Dallas and from branch RBC offices in Canada, Japan, Indonesia, Sweden and Switzerland.
Company products are also marketed worldwide over the Internet by those distributors who maintain their own web pages linked to the Company Web site, www.rbcglobenet.com.
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CONTACT: GlobeNet
Steve Brown, 972/401-0052
rbcglobenet.com
KEYWORD: TEXAS
ANTIOXIDANT SALES INCREASE GLOBENET REVENUE 122%
Business Wire
Jul 28 1998 1:44PM ET
Business Editors
DALLAS--(BUSINESS WIRE)--July 28, 1998--GlobeNet(R) International (OTC BB:GNII) reported a 122% increase in sales to $6,641,000, in the second quarter ended June 30, 1998 compared to sales of $2,997,000 in the same quarter last year, and earnings from continuing operations of $161,000 in the second quarter this year, compared to a loss from continuing operations of $237,000 for the same period last year.
The company attributed the earnings gain to: 1) continued rising sales of the company's antioxidant, Mycrohydrin(tm), in its U.S. and Canadian Royal BodyCare divisions, and 2) the addition of 42,000 direct marketing distributors in the past year, primarily in the U.S., but also in Canada, Japan, Indonesia, and the Scandinavian countries.
GlobeNet president, Clinton H. Howard explained, "Microhydrin is an entirely new development in the growing science of nutritional supplementation. It provides additional electrons needed by the body, and missing in our modern diets which are high in acidic, oxidized foods and beverages. Microhydrin makes any food you eat similar in certain aspects to raw, organically grown fruits and vegetables, and improves drinking water so that it is less acidic and no longer oxidized."
Mr. Howard also announced that Royal BodyCare of Switzerland will open its first office and warehouse for Europe on August 21 in Zurich.
GlobeNet, a Dallas based company, has leased a 119,000 sq ft building in Las Colinas, Irving, Texas, where its home office and warehouse will relocate in September.
At its annual shareholders' meeting this month the current members of the Board of Directors were reelected, and the board was increased with the addition of Frank Franasiak, M.D. a Virginia physician who is Board Certified in Obstetrics and Gynecology.
The Company also reported that its attorneys are preparing a registration statement to be filed with the SEC to spin off its subsidiary, Great Expectations (GX) with the issuance of one registered share of GX for each two shares of GlobeNet (GNII) to shareholders of record on June 5, 1998. The company has classified the operations of GX as discontinued operations in its financial statements. The Company reported a loss from discontinued operations of $103,000 for the second quarter of 1998, compared with income from discontinued operations of $38,000 for the same period in 1997.
GlobeNet (OTC BB:GNII), through its Royal BodyCare divisions, directly markets worldwide 200 high quality nutritional supplements, featuring Microhydrin and Microclusters(R), an additive designed to increase intestinal absorption and bioavailabilty of all nutrients. GlobeNet also markets telecommunication services, and web pages which enable its 85,000 distributors in 21 countries to advertise and sell RBC products via their individual home pages, as well as through the company web site, www.rbcglobenet.com.
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CONTACT: GlobeNet
Steve Brown, 972/401-0052
E-mail:sbrown@rbcglobenet.com
KEYWORD: TEXAS
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