Kesselring Holding Corporation Files 10-QSB, Company's Turnaround Plan Working as Operating Results Improve 40% vs. Prior Quarte
15 Août 2008 - 12:24AM
Marketwired
Kesselring Holding Corporation (OTCBB: KSSH) announced today that
it has filed its recent form 10-QSB with the Securities and
Exchange Commission.
The Company is required to file a form 10-QSB with the
Securities and Exchange Commission 45 days after the end of its
third fiscal quarter, June 30, 2008. This form summarizes the
Company's results of operations for the 3rd quarter of 2008 and
2007 and the first nine months of 2008 and 2007.
The Company reported Revenues of $1,996,799, Gross Profit of
$604,852, and an Operating Loss of ($466,315) for the 3rd quarter
of 2008. This compares to Revenues of $2,407,881, Gross Profit of
$627,247, and an Operating Loss of ($1,551,084) for the 2nd quarter
of 2008. The 2nd quarter Operating Loss was ($774,484) excluding a
restructuring charge of $776,600 which was taken in that quarter.
As a result, the 3rd quarter Operating Loss represents a 40%
improvement on a comparable basis. The Company reported Revenues of
$2,709,466, Gross Profit of $510,135 and an Operating Loss of
($762,711) for the 3rd quarter of 2007.
The Company reported Revenues of $7,102,553, Gross Profit of
$1,779,554, and an Operating Loss of ($3,325,027) including the
aforementioned restructuring charge of $776,600 for the first nine
months of 2008. This compares to Revenues of $9,414,118, Gross
Profit of $1,942,972, and an Operating Loss of ($1,162,068) for the
same period in 2007.
Since early February, 2008 when a management change took place,
the Company has undertaken a plan of action mandated by the Board
of Directors to dramatically improve its operating results as
quickly as possible by aggressively cutting costs at the holding
company, downsizing and refocusing its Kesselring Restoration
division to get back to its profitable core business and increasing
the profitability and business development efforts of its
Washington divisions.
Charles B. Rockwood, Chief Operating and Financial Officer of
Kesselring Holding Corporation states: "We have been working very
hard to put the company on a path to profitability and while we're
pleased with our progress thus far -- this 40% improvement on a
comparable basis demonstrates that -- we've got a long way to go in
order to achieve our ultimate goal of sustained profitability and
growth."
"Despite the 40% improvement in our results, our goal remains to
create meaningful shareholder value and management feels we are on
our way to doing so. We still have issues to work through and are
very appreciative of the support our valued business partners are
providing in helping us get back on track in this challenging
economic climate," stated Chairman of the Board, Clifford H.
Wildes.
"Safe Harbor" Statement under Private Securities Litigation
Reform Act of 1995
Statements about the expected future prospects of our business,
statements about our outlook for internal revenue growth in 2007
and 2008, and all other statements in this release other than
historical facts, constitute forward-looking statements. You can
identify forward-looking statements because they contain words such
as "believes," "expects," "may," "will," "would," "should,"
"seeks," "approximately," "intends," "plans," "estimates," or
"anticipates" or similar expressions which concern our strategy,
plans or intentions. All statements we make relating to estimated
and projected earnings, margins, costs, expenditures, cash flows,
growth rates and financial results are forward-looking statements.
In addition, we, through our senior management, from time to time
make forward-looking public statements concerning our expected
future operations and performance and other developments. All of
these forward-looking statements are subject to risks and
uncertainties that may change at any time, and, therefore, our
actual results may differ materially from those we expected. We
derive most of our forward-looking statements from our operating
budgets and forecasts, which are based upon many detailed
assumptions. While we believe that our assumptions are reasonable,
we caution that it is very difficult to predict the impact of known
factors, and, of course, it is impossible for us to anticipate all
factors that could affect our actual results. Some of the factors
that we believe could affect our results include: conditions in the
restoration, construction and building products industries, change
in interest rates, the impact of severe weather on the Company's
restoration and construction operations, the effect of governmental
regulation on the Company and other factors described from time to
time in our filings with the Securities and Exchange Commission.
The factors described in this paragraph and other factors may
affect our business or future financial results. We assume no
obligation to update any written or oral forward-looking statement
made by us or on our behalf as a result of new information, future
events or other factors.
Contact: Charles Rockwood Kesselring Holding Corporation
941-953-5774 x108 Email: Email Contact
Kingfish (CE) (USOTC:KSSH)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Kingfish (CE) (USOTC:KSSH)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024