Tricell Announces Record $5 Million Profit and $383 Million Revenue for First Quarter of 2006
Tuesday May 16, 8:30 am ET
STAFFORDSHIRE, England, May 16 Tricell Inc. (OTC: TCLL.OB), announced record quarterly profit for the quarter ended March 31, 2006. Profit for this quarter was $5,007,009, as compared to a net loss of $87,108 for the same quarter last year. This represents an increase of 5848%. Tricell also generated revenue of $383.5 million for the three months ended March 31, 2006 as compared to $56.3 million for the same period in 2005, which is a 582% increase. The increase in revenues is the result of our expanded trading operations, which since June 30, 2005, includes the operations of our wholly owned subsidiary, Ace Telecom. Tricell's increased profit is the result of both our expanded operations, as well as our reduced cost of capital. For all of the first quarter of 2006, Tricell resumed internally financing its trading activities with cash flow from operations, whereas an external line of credit was used to finance operations for most of 2005.
Tricell's income from operations for the first quarter of 2006 was $2,071,393, as compared to $218,043 for the quarter ended March 31, 2005, representing an increase of 850%. Adding significantly to the 2006 net income figure of $5,007,009 is other income of $3,620,523, which Tricell realized in January 2006 when two of its dormant subsidiaries were liquidated.
Tuesday May 16, 8:30 am ET
STAFFORDSHIRE, England, May 16 Tricell Inc. (OTC: TCLL.OB), announced record quarterly profit for the quarter ended March 31, 2006. Profit for this quarter was $5,007,009, as compared to a net loss of $87,108 for the same quarter last year. This represents an increase of 5848%. Tricell also generated revenue of $383.5 million for the three months ended March 31, 2006 as compared to $56.3 million for the same period in 2005, which is a 582% increase. The increase in revenues is the result of our expanded trading operations, which since June 30, 2005, includes the operations of our wholly owned subsidiary, Ace Telecom. Tricell's increased profit is the result of both our expanded operations, as well as our reduced cost of capital. For all of the first quarter of 2006, Tricell resumed internally financing its trading activities with cash flow from operations, whereas an external line of credit was used to finance operations for most of 2005.
Tricell's income from operations for the first quarter of 2006 was $2,071,393, as compared to $218,043 for the quarter ended March 31, 2005, representing an increase of 850%. Adding significantly to the 2006 net income figure of $5,007,009 is other income of $3,620,523, which Tricell realized in January 2006 when two of its dormant subsidiaries were liquidated.