eResource Capital Group, Inc. ("RCG") today announced record revenue of $9.74 million for the third quarter ended March 31, 2002, an increase of 133% over the third quarter of 2001. The increase in revenue relates to the expansion of the Company''s aviation travel services business, flightserv.com, as well as revenue from businesses that RCG acquired over the last 12 months.The Company reported positive EBITDA (earnings before interest, taxes, depreciation and amortization) for the quarter of $219,000, compared to an EBITDA loss of $1,002,000 for the third quarter of fiscal 2001. Additionally, RCG reported net income of $25,000, or break even per share, for the third quarter of fiscal 2002, compared to a net loss from continuing operations of $1,543,000, or $0.03 per share for the third quarter of fiscal 2001. "The improvement in profitability is attributable to positive results in the Company''s aviation travel services and other businesses, overall cost reduction efforts and investment gains," commented John Van Heel, VP of Finance and Treasurer of RCG."After four quarters of losses since taking over as new management in November of 2000, we have finally turned the corner, and we are extremely pleased with the Company''s performance," said RCG''s CEO Mike Pruitt. "We achieved record revenue, EBITDA, and profit for the quarter. We remain focused on our operating performance, with the goal of continuing positive results in the future."RCG recently signed a letter of intent to sell approximately 25% of LifeStyle Technologies ("LST"), its home technology subsidiary, to Princeton Mining Company ("PRNM," (BULLETIN BOARD: PRNM) , a transaction intended to create shareholder value by making LST a "pure play" home technology company.RCG ended the quarter with $3.67 million in cash, cash equivalents and investment securities, versus $2.69 million in the previous quarter.About eResource Capital GroupeResource Capital Group, Inc. , based in Charlotte, N.C., is a network of technology and service companies brought together under one operating company to benefit from synergistic relationships and the infusion of intellectual and capital resources. RCG plans to strengthen its network through timely acquisitions and by growing and enhancing its member companies. Operating companies in the RCG network include: LifeStyle Technologies; flightserv.com; Internet Aviation Services, Ltd.; DM Marketing, Inc.; Avenel Ventures, Inc.; Avenel Alliance, Inc.; and Logisoft Corp. More information is available on RCG at www.eresourcecapital.com.Statements in this news release about anticipated or expected future revenue or growth or expressions of future goals, objectives or security prices, including statements regarding whether current plans to grow and strengthen the company''s existing network will be implemented or accomplished, are forward- looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements in this release are based upon information available to the Company on the date of this release. Any forward-looking statements involve risks and uncertainties, including the risk that the Company will be unable to grow or strengthen its network due to a lack of capital or an inability to identify acquisition candidates, as well as those risks and uncertainties described in the Company''s filings with the Securities and Exchange Commission, that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.eResource Capital Group, Inc. Condensed consolidated Statement of Operations (Unaudited) (In thousands, except per share amounts) Three months ended March 31 Nine months ended March 31 2002 2001 2002 2001 Revenue Services $7,330 $4,170 $19,031 $6,547 Product sales 2,417 -- 7,485 -- Total revenue 9,747 4,170 26,516 6,547 Cost of revenue Services 6,018 3,519 16,029 6,020 Product sales 2,185 -- 6,351 -- Gross profit 1,544 651 4,136 527 Selling, general and administrative expenses - compensation related to issuance of stock options and warrants 7 220 19 6,923 Selling, general and administrative expenses - other 1,580 1,277 5,511 3,666 Provision for bad debts 20 -- 85 -- Depreciation and amortization 101 554 285 1,215 Interest expense (income), net 93 (13) 186 (37) (Gain) loss on investments, net (282) 156 97 156 Gain on sale of assets -- -- (171) -- Write-off of web site development costs -- -- -- 754 Write-off of predevelopment costs -- -- -- 1,164 Income (loss) from continuing operations 25 (1,543) (1,876) (13,314) Loss of discontinued operations -- (313) -- (580) Gain on disposal of discontinued operations -- -- 576 -- Income (loss) before cumulative effect of change in accounting principle 25 (1,856) (1,300) (13,894) Cumulative effect of change in accounting principle -- -- (693) -- Net income (loss) $25 $(1,856) $(1,993) $(13,894) Basic and diluted net loss per share: Income (loss) from continuing operations $-- $(0.03) $(0.02) $(0.27) Loss of discontinued operations -- (0.01) -- (0.01) Gain on disposal of discontinued operations -- -- 0.01 -- Cumulative effect of change in accounting principle -- -- (0.01) -- Net income (loss) $-- $(0.04) $(0.02) $(0.28) Weighted average shares outstanding 83,062,659 56,822,579 78,943,358 48,740,469 Weighted average shares outstanding, assuming dilution 87,179,002 56,822,579 78,943,358 48,740,469 eResource Capital Group, Inc. Condensed Consolidated Balance Sheets (In thousands) March 31, June 30, 2002 2001 (Unaudited) ASSETS Cash and cash equivalents $1,398 $1,286 Accounts receivable, net 2,321 2,018 Inventory 188 126 Investments 2,274 1,592 Prepaid expenses 3,315 1,858 Total current assets 9,496 6,880 Deferred costs and other assets 442 319 Property and equipment, net 1,527 1,645 Goodwill, net 18,420 17,898 Total assets $29,885 $26,742 LIABILITIES AND SHAREHOLDERS'' EQUITY Notes payable - current portion $2,491 $489 Notes and amounts due to affiliates 263 336 Accounts payable and accrued expenses 5,052 4,730 Deposits and other liabilities 41 658 Unearned income 1,487 1,161 Total current liabilities 9,334 7,374 Notes payable 962 179 Net liabilities of discontinued operations -- 201 Total liabilities 10,296 7,754 Shareholders'' equity: Common stock, $.04 par value, 200,000,000 shares authorized, 85,673,715 and 75,833,728 issued, respectively 3,428 3,033 Additional paid-in capital 110,919 109,357 Accumulated deficit (95,472) (93,479) Accumulated other comprehensive income 722 88 Treasury stock at cost (24,502 and 35,930 shares, respectively) (8) (11) Total shareholders'' equity 19,589 18,988 Total liabilities and shareholders'' equity $29,885 $26,742 These statements should be read in conjunction with the Company''s Form 10- QSB filed with the Securities and Exchange Commission on May 14, 2002 eResource Capital Group, Inc.
12.02.2002
eResource spekulativ
BoersenMan.de
Die Aktie von eResource Capital Group (WKN 925954) gilt unter spekulativen Anlegern als interessant, ist allerdings keine Empfehlung der Experten von "BoersenMan.de".
Die Jungs aus North Carolina seien ausgerechnet in einem der schwierigsten Jahre der amerikanischen Luftfahrt ins Airline- Geschäft eingestiegen: sie hätten sich einen Charterdienst gekauft, der Urlaubs- und Firmenreisen anbiete dazu Billigverbindungen zwischen amerikanischen Provinzstädten.
Ähnlichkeiten zum irischen Billigflieger RyanAir seien durchaus beabsichtigt. Im vergangenen Jahr sei das Geschäft angelaufen und bereits im Januar 2002 solle die Gewinnschwelle erreicht worden sein. Möglicher Grund: seit dem 11. September würden viele Passagiere die großen Linienfluggesellschaften meiden und kleinere, unbekannte Charterflieger buchen, weil sie sich dort sicherer fühlen würden.
Das führe zu einem gespaltenen Markt: während große Gesellschaften wie Lufthansa leiden, würden die kleinen florieren. Erste Indizien für den Trend sollen die Geschäftszahlen bringen, die eResource Capital noch im Februar bringen wolle.
Die Aktie gilt unter spekulativen Anlegern als interessant, ist allerdings keine Empfehlung der "BoersenMan"-Redaktion. eResource Capital werde in Frankfurt gehandelt.
12.02.2002
eResource spekulativ
BoersenMan.de
Die Aktie von eResource Capital Group (WKN 925954) gilt unter spekulativen Anlegern als interessant, ist allerdings keine Empfehlung der Experten von "BoersenMan.de".
Die Jungs aus North Carolina seien ausgerechnet in einem der schwierigsten Jahre der amerikanischen Luftfahrt ins Airline- Geschäft eingestiegen: sie hätten sich einen Charterdienst gekauft, der Urlaubs- und Firmenreisen anbiete dazu Billigverbindungen zwischen amerikanischen Provinzstädten.
Ähnlichkeiten zum irischen Billigflieger RyanAir seien durchaus beabsichtigt. Im vergangenen Jahr sei das Geschäft angelaufen und bereits im Januar 2002 solle die Gewinnschwelle erreicht worden sein. Möglicher Grund: seit dem 11. September würden viele Passagiere die großen Linienfluggesellschaften meiden und kleinere, unbekannte Charterflieger buchen, weil sie sich dort sicherer fühlen würden.
Das führe zu einem gespaltenen Markt: während große Gesellschaften wie Lufthansa leiden, würden die kleinen florieren. Erste Indizien für den Trend sollen die Geschäftszahlen bringen, die eResource Capital noch im Februar bringen wolle.
Die Aktie gilt unter spekulativen Anlegern als interessant, ist allerdings keine Empfehlung der "BoersenMan"-Redaktion. eResource Capital werde in Frankfurt gehandelt.
