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Is anyone watching this company? I just noticed their news release on Friday evening, April 11th. The stock was up 1/2 on Friday. It sounds like their profits have greatly increased with their recent acquisitions. According to the news release, they went from a -.07 eps in the 1Q of 1996 to a +.39 eps in the 1Q of 1997. The planned 2Q merger with Avalon Entertainment Group, Inc. sounds like a good move. It would seem to compliment NCCI very nicely as Avalon posts its highest profit levels during the second and third quarters, which is traditionally the slow period for Avalon's resort, The Village Resort. I am posting the news realise from Friday below: ----------------------------- Friday April 11 6:58 PM EDT Nashville Country Club, Inc. Reports Record First Quarter Profits NASHVILLE, Tenn.--(BUSINESS WIRE)--April 14, 1997--Nashville Country Club, Inc. (Nasdaq NM: NCCI), a diversified entertainment company, today announced record profits for the first quarter ended March 31, 1997. Revenues were $10 million, compared to $515,000 for the same period in 1996. Earnings were $1,772,000, or 39 cents per share, compared to a loss of $100,000, or a loss of (7 cents) per share in 1996. 1994 1995 1996 1997 1st Quarter (actual) Revenues $ 12,813 $ 545,277 $ 515,242 $ 10,000,000 Profit/Loss (6,561) (268,732) (99,459) 1,772,000 Shares O/S 1,470,000 1,470,000 1,470,000 4,590,435 Earnings per share (0.00) (0.18) (0.07) 0.39 "Record first quarter profits are reflective of the company's recent strategic acquisitions," said Thomas J. Weaver III, NCCI chairman and CEO. "The company has grown assets and revenues more rapidly and become profitable more quickly than many other peer group, public companies in the entertainment industry. "We expect to consummate the Avalon Entertainment Group, Inc. merger during the second quarter, which will continue to expand the company," Weaver stated. "In addition, Avalon perfectly complements the seasonal nature of our resort operation. Avalon posts its highest profit levels during the second and third quarters, which is the traditional slow period for The Village Resort. We are in excellent position to accelerate our profitable growth." Weaver noted that the company has grown from an asset base of $3 million to $38 million. In addition to the pending merger transaction with Avalon Entertainment Group, Inc., NCCI has announced a 135,000 square-foot development adjacent to its Nashville restaurant, which includes the acquisition of an existing, multi-story parking facility and the development of a hotel with 110 guest suites and 6,000 square feet of office facilities. NCCI also is in the final planning stages of an announced $75 million expansion and redevelopment of its Breckenridge, Colo., resort facility. The Breckenridge resort enjoys a dominant market position in Breckenridge, Summit County, Colo., one of the most visited ski counties in North America. Nashville Country Club, Inc., headquartered in Tennessee, is a diversified entertainment company that operates resort hotels and restaurants and produces concerts and corporate events. CONTACT: Jerry Daly or Carol McCune (609) 383-1414 --------------------------------------- I would appreciate anyone posting any information or comments that they may have on this company. Cheryl | ||||||||||||
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