 |
 | |
 |  |
| We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level. |
MINNESOTA AMERICAN, INC. 14853 DE VEAU PLACE MINNETONKA, MN 55345 NASDAQ OTCBB: MNAC Phone:612-945-9750 Fax: 612-945-9755 Shares Outstanding: 3.5 million Public Float : 1.5 million Fiscal Year : September Pierce McNally-----Chairman & CEO George Wood--------President minnesotaamerican.com CORPORATE PROFILE Minnesota American, Inc., founded in 1983, is a Midwestern holding company active in the organizational products market and operates two wholly owned subsidiaries, LockerMate Corporation® and Favorite Memories, Inc. ™ Strategic thinking and foresight have put Minnesota American on a clear growth-path with exciting potential. For the last four years, Minnesota American has shown profits and, as of last year, is debt-free. These achievements have sprung from strategic partnerships developed by Minnesota American that have reduced overhead to a minimum, created just-in-time inventory and streamlined distribution. Minnesota American purchased Favorite Memories, Inc. ™ in 1998 as part of its growth effort. Now, in 1999, Minnesota American is entering a partnership with flowersandgifts.com to bolster its e-commerce presence. flowersandgifts.com owns a proprietary search vehicle on the Internet that will link to thousands of flower and gift shops around the country. This engine will help drive traffic to Minnesota American's consumer-oriented storefronts on the Internet. The search engine will help the consumer customize orders, suggest ideas for purchase and add value to the consumer's on-line shopping experience. The partnership is part of Minnesota American's full-scale foray into the world of Internet sales. Recognizing that the core consumer's buying behavior is shifting to e-commerce, Minnesota American is establishing a clear path for its consumers to purchase products with the greatest possible convenience. Financials The Company's net income increased 79%, to $388,566 in 1998 from $217,234 in 1997, doubling earnings per share. The strong earnings performance follows from a continuation of the Company's strategy to stabilize sales, maintain gross margins and increase operating efficiencies for its LockerMate® subsidiary. At the close of fiscal year 1998, the Cash and Accounts Receivable totaled $452,114 relative to Accounts Payable of $207,819, giving the Company strong liquidity going into the current fiscal year. The most important aspect of the Company's 1998 performance was the consistency of sales, margins and profits over the past four years. Net Sales have stabilized in the past two years, Gross Margins and Operating Income have remained strong, and Consolidated Net Income and Consolidated Equity have increased steadily each year. This consistent performance and strong cash position at the end of 1998, puts the Company in an excellent position to implement the strategy of creating strong LockerMate® performance and leveraging financial and operational strength to acquire new products and/or companies that have greater growth potential. The first step in implementing expansion is underway with the acquisition of Favorite Memories, Inc. ™, an Arizona company that manufactures and markets a distinctive line of "memory organization" albums for children enrolled in school classrooms and athletic programs. Two Favorite Memories' products have been redesigned and re-introduced into the marketplace. At this date, My Favorite School Memories™ and My Sports Memories™ are in full production and are under active consideration by several of the Company's established customers for procurement in fiscal year 1999. Subsidiaries LockerMate Corp.® has been the market leader in school locker organizing systems since its inception in 1983. LockerMate Corp's® product line-up includes three styles of innovative locker shelving products and an expanding selection of accessory products for a wide variety of locker organization uses. Overall, LockerMate Corp.® markets twelve separate locker organization products in four trend specific colors and two distinctive package designs, one for school and one for home office applications. The company's market appeal and competitive advantages arise from the breadth and quality of its product line, a prominent national brand, high proprietary content, strong retailer profit margins and highly effective customer service. LockerMate Corp.® designs and manufactures its products in a strategic partnership with Donnelly Custom Manufacturing Corporation in Alexandria, Minnesota. Favorite Memories, Inc.™, a newly acquired subsidiary (1998), markets a distinctive line of "memory organization" albums which are uniquely tailored for standardized school classroom and athletic team photographs. Favorite Memories, Inc.™ markets two albums, My Favorite School Memories™ and My Favorite Sports Memories™, which integrate photo album, journal and scrapbook pages into eight formatted sections, representing eight school years or eight athletic seasons respectively. The company designs and manufactures its products in a strategic partnership with Corporate Graphics, Inc. in Mankato, Minnesota. minnesotaamerican.com | ||||||||||||
|
| Home | Hot | SubjectMarks | PeopleMarks | Keepers | Settings |
| Terms Of Use | Contact Us | Copyright/IP Policy | Privacy Policy | About Us | FAQ | Advertise on SI |
| © 2025 Knight Sac Media. Data provided by Twelve Data, Alpha Vantage, and CityFALCON News |