To: Jeffrey L. Henken who wrote (2371 ) 5/19/1999 9:11:00 AM From: Bill Fortune III Read Replies (1) | Respond to of 2662
Good morning Jeff and all. Here is some update information and comments on TBAE: FEATURED UPDATE 1: TBA ENTERTAINMENT – TBAE TBAE announced their First Quarter results today and blew away the street with unexpectedly strong results: TBA Entertainment Corporation exceeded analysts' expectations with its strong financial results reported today for the quarter ended March 31,1999. TBA reported first quarter revenues from continuing operations of $11,244,800, up 168 percent from the $4,189,500 for the corresponding period in 1998. EBITDA from continuing operations, (defined as net income from continuing operations before income taxes plus depreciation and amortization, less net interest income and plus net interest expense), rose to $766,000, up 100 percent from $384,400 for the prior year. Net income from continuing operations increased to $328,300 from $281,100 in 1998. Diluted earnings per share from continuing operations were $0.04, which exceeded analysts' expectations of $0.0 diluted earnings per share. “We are pleased to report a strong start for 1999,” said Thomas Jackson (Jock) Weaver III. “The company is continuing to experience robust internal growth and remains active in the acquisition arena, completing its Indianapolis acquisition during the first quarter. We will aggressively execute the growth strategy initiated in 1998 as we continue building one of the leading entertainment services companies in the industry.” This means that if TBA can keep these kinds of numbers up in their next three quarters, (their two strongest quarters are the 2nd and 3rd), then this company could do $50 Million for fiscal 1999, with anywhere from $5 - $10 Million to the bottom line based on pro-rated increases from last year's bottom line. Whilst this company has a tendency not to react to news, one may expect in the days ahead that the number crunchers, quants and other analysts will have to start upgrading this issue to strong buy or higher and underscores our view that it ranks a takeover. The above is an excerpt from the Financial Intelligence Newsletter and reprinted by permission: Copyright 1999, Financial Intelligence. All rights reserved. Re-publication and/or re-dissemination, through electronic mail or any form of mass distribution, including posting to news organizations or message boards, is expressly prohibited without the prior written consent and approval of Financial Intelligence. Regards, Bill Fortune III