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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: The SPHINX who wrote (15272)	5/10/1999 9:48:00 AM
From: Joe Copia	Read Replies (2) \| Respond to of 25711

ADCO - Monday May 10, 9:30 am Eastern Time Company Press Release American Resources Reports Strong Subsidiary Revenue Growth March Revenue up 57 Percent April Revenue up 124 Percent PORTLAND, Ore.--(BUSINESS WIRE)--May 10, 1999--American Resources & Development CO. (OTC BB:ADCO) reports its subsidiary, Pacific Print Works (PPW), was profitable for its fourth fiscal quarter (FYE 3/31/99) on revenue of $995,000 and achieved strong revenue growth and profitability for the month of March. Revenue for the quarter was up 46.1 percent from the same period of the prior year; revenue for March increased 57.4 percent year-to-year. Operating income for March was also a record high for the Company as an increasing base of large branded apparel manufacturers continues to positively impact sales and profit margins. April sales for the Company carry on the strong growth trend as sales of $395,000 are up 124 percent year-to-year. Mr. Will Papenfuss, CEO and president of American Resources & Development (ARDCO), stated, ''We are very pleased with the strong growth in sales and the impact this has had on our profitability.'' Providing more detail, Jeff Harden, PPW president, added, ''Our growth is clearly a function of the strength of our customer base including several significant new accounts. Based on the new business we are bringing in, we have every expectation this sales growth will continue in the future.'' PPW management believes it is on pace to achieve $8.5M in revenue for its fiscal 2000 (FYE March 31, 2000), an increase of 170 percent over the previous year. ARDCO is an investment holding company that specializes in select consumer products. Pacific Print Works, one of ARDCO's core holdings, produces leading-edge screen-printed apparel for corporate accounts, employing 100 people at their Portland-based operation. PPW customers include some of the largest branded apparel manufacturers in the United States whose products sell at major department stores. Another significant ARDCO holding is Fan-Tastic, Inc., a franchise-based retail chain of specialty stores selling licensed goods such as Disney, Warner Bros., the NFL, etc. ARDCO also owns an interest in U.S. Polo Association, Ltd. (USPA), master license holder for the U.S. Polo Association name and an investment of 1.2M shares of Golf Communities of America, Inc. (OTC BB:CLUB) common stock. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Contact: Stock Enterprises James Stock, 702/614-0003 Fax: 702/617-4165 jamestock@aol.com