Value Microcaps Motherboard

[deathtotaxes]

JMIH pump..


Jupiter Marine (JMIH) $0.28. Yet Another Great Quarter.

"Sooner or later, superior performance from an operating standpoint is
rewarded...."

>Roland Perry, Editor.
>
>"We feel that Jupiter Marine is one of the best positioned outboard boat
>manufacturers in the country. We have achieved great success in carving a
>niche in what is a highly competitive market. We feel that the increased
>recognition of our brand among boaters is a testament to the quality of
>our products and the dedication of our employees. For the reasons we have
>continuously highlighted, we are optimistic with regard to the long-term
>growth of the Company and growing acceptance of our brand."
>
>Carl Herndon, President, Jupiter Marine.
>
>==================================================
>
>Press Release Source: Jupiter Marine International Holdings, Inc.
>
>Jupiter Marine Reports Fiscal 2006 Second Quarter Results
>Wednesday March 15, 10:19 am ET
>
>FORT LAUDERDALE, Fla. & PALMETTO, Fla.--(BUSINESS WIRE)--March 15,
>2006--Jupiter Marine International Holdings, Inc. (OTCBB: JMIH - News):
>
>2Q FY 2006 Highlights
>
>Revenue increased 31.5% to $3.4 million due to higher sales from the
>Jupiter 38'
>Net income applicable to common shareholders up 11.2% to 116,000, or $.01
>per diluted share
>Order backlog remains steady at six months
>Production underway at Jupiter Marine's new Palmetto, FL manufacturing
>facilities
>Company taking orders for new Jupiter 29' boat
>
>Jupiter Marine International Holdings, Inc. (OTCBB: JMIH - News), a
>leading manufacturer of high quality, semi-custom center console boats
>under the Jupiter(TM) brand name, today announced financial results for
>the second quarter and six months-ended January 28, 2006 (see attached
>tables).
>
>Carl Herndon, President of Jupiter Marine, stated, "We are very pleased
>with our results in the second quarter and first half of fiscal 2006,
>which we feel are even more impressive when you factor in various economic
>factors affecting our customer base, including higher fuel prices, higher
>interest rates and the effect of a especially destructive hurricane
>season. Despite these economic conditions, we have maintained a steady
>order backlog of approximately six months throughout the first half of
>fiscal 2006. We attribute this continued demand for our boats to
>outstanding customer service, the increased recognition of our brand among
>boaters and our well connected dealer network."
>
>Mr. Herndon continued, "As we recently announced, a major contributor to
>our future growth will be the increase in capacity as a result of our
>opening new manufacturing facilities in Palmetto, FL. We have officially
>opened and begun production at this facility, and are currently in the
>process of hiring employees to satisfy existing orders. By adding this
>facility to our existing operations in Fort Lauderdale, we have achieved
>one of the Jupiter Marine's primary goals of the past three years, which
>was to increase production capacity and enable the Company to accommodate
>higher volume. Our expansion in Palmetto over time could potentially
>double the number of boats we manufacture. We intend to build our new 29'
>Forward Seating Center Console model, which has received rave reviews from
>our dealers, and a select number of the very popular Jupiter 31' models in
>Palmetto. Other models will remain in production at the existing Fort
>Lauderdale facility."
>
>Net sales for the second quarter of fiscal 2006 increased 31.5% to $3.4
>million from $2.6 million in the same period last year. Higher sales were
>due to continued strong demand for the Company's outboard product line,
>driven largely by sales of the Jupiter 38', which the Company initially
>introduced in February 2005.
>
>Gross profit increased 15.6% to $825,000 in the second quarter of fiscal
>2006, from $714,000 in the comparable period of last year. The Company's
>gross profit margin decreased to 24.0% in the second quarter of fiscal
>2006 from 27.3% in the second quarter of fiscal 2005. Jupiter Marine has
>stated in the past that it will attempt to offset rising raw materials
>costs through the result of better utilization of overhead, pricing
>increases and improved materials management. Although the Company is,
>through a variety of initiatives, proactively addressing the impact of
>these costs on its operations, there can be no assurances that it can
>continue to compensate for these increases without an adverse affect on
>its operating results. In addition, the Company incurred costs of
>approximately $95,000 in relation to the start up of its new Palmetto
>manufacturing facility, which has now commenced operations.
>
>The Company also decided that it would no longer manufacture its current
>27' Forward Seating model. Consequently, a one-time provision for loss on
>disposition of assets (boat molds) in the amount of $73,844 was recorded
>during the quarter.
>
>Despite the aforementioned expenses, Jupiter Marine's net income
>applicable to common shareholders in the second quarter of fiscal 2006
>increased 11.2% to $116,000, or $.01 per diluted share on approximately
>18.4 million diluted shares outstanding, from $105,000, or $.01 per
>diluted share on approximately 15.4 million diluted shares outstanding, in
>the second quarter of fiscal 2005.
>
>Net sales for the first half of fiscal 2006 increased 22.4% to $6.6
>million from $5.4 million in the same period last year. Gross profit
>increased 13.9% to $1.6 million, or 24.4% of net sales, from $1.4 million,
>or 26.2% of net sales, in the year earlier period. Higher sales and gross
>profit for the first half of fiscal 2006 were due primarily to the reasons
>outlined above. The Company reported net income applicable to common
>shareholders for the first half of fiscal 2006 of $337,000, or $.02 per
>diluted share on approximately 18.0 million diluted shares outstanding,
>versus $267,000, or $.02 per diluted share on approximately 15.1 million
>diluted shares outstanding, in the same period last year.
>
>Mr. Herndon concluded, "We feel that Jupiter Marine is one of the best
>positioned outboard boat manufacturers in the country. We have achieved
>great success in carving a niche in what is a highly competitive market.
>We feel that the increased recognition of our brand among boaters is a
>testament to the quality of our products and the dedication of our
>employees. For the reasons we have continuously highlighted, we are
>optimistic with regard to the long-term growth of the Company and growing
>acceptance of our brand."
>
>Financial Position
>
>Jupiter Marine's balance sheet at January 28, 2006 is highlighted by a
>current ratio of 1.53:1, a debt-to-equity ratio of 0.63 compared to 0.64
>at July 31, 2005, and no long-term debt. In addition, Jupiter Marine
>negotiated an increase to $750,000 from $500,000 in its revolving line of
>credit, of which $370,000 was available at January 28, 2006.
>
>About Jupiter Marine International Holdings, Inc.
>
>Jupiter Marine designs, manufactures and markets high quality sportfishing
>boats designed to run at high speeds in offshore sea conditions while
>providing passengers with a smooth, comfortable, dry ride. The center
>console product line includes the 38' Forward Seating, 31' Open, 31'
>Forward Seating and 31' Cuddy, in addition to the all new Jupiter 29
>Forward Seating model. The Company's website is www.jupitermarine.com.
>
>This press release may contain statements that constitute forward-looking
>statements within the meaning of the Private Securities Litigation Reform
>Act of 1995. The matters discussed in this press release include
>statements regarding the intent, belief or current expectations of the
>Company, its directors or its officers with respect to the future
>operating performance of the Company. Investors are cautioned that any
>such forward-looking statements are not guarantees of future performance
>and involve risks and uncertainties, and that actual results may differ
>materially from those in the forward-looking statements as a result of
>various factors.
>
> Jupiter Marine International Holdings, Inc.
> Consolidated Statements of Operations
> (Unaudited)
>
>
> Three Months Ended Six Months Ended
> January 28, January 29, January 28, January 29,
> 2006 2005 2006 2005
>
>NET SALES $3,439,337 $2,614,651 $6,573,637 $5,371,181
>
>COST OF SALES
> (exclusive of
> depreciation) 2,613,919 1,900,546 4,968,712 3,961,939
> ------------------------ -----------------------
> GROSS PROFIT 825,418 714,105 1,604,925 1,409,242
> ------------------------ -----------------------
>
>OPERATING EXPENSES:
> Selling and
> marketing 161,313 85,603 272,667 180,006
> General and
> administrative 412,062 341,137 772,813 676,511
> Depreciation and
> amortization 57,014 70,387 139,684 144,424
> ------------------------ -----------------------
> Total operating
> expenses 630,389 497,127 1,185,164 1,000,941
> ------------------------ -----------------------
>
>OTHER INCOME
> (EXPENSE):
> Interest expense (14,933) (16,439) (30,817) (33,348)
>Impairment of assets (73,844) - (73,844) -
>Interest expense -
> loan guarantee - (91,000) - (91,000)
> Other income 10,158 4,787 22,072 11,074
> ------------------------ -----------------------
>
> Total other
> income
> (expense) (78,619) (102,652) (82,589) (113,274)
>
>NET INCOME BEFORE
> INCOME TAXES 116,410 114,326 337,172 295,027
>
>INCOME TAX EXPENSE - - - -
> ------------------------ -----------------------
>NET INCOME 116,410 114,326 337,172 295,027
>
> Dividends on
> preferred stock - (9,679) - (28,108)
>
>
>NET INCOME APPLICABLE
> TO COMMON
> SHAREHOLDERS $ 116,410 $ 104,647 337,172 266,919
> ======================== =======================
>
>Basic and diluted net
> income per common
> share
> Basic $ 0.01 $ 0.01 $ 0.02 $ 0.02
> ======================== =======================
> Diluted $ 0.01 $ 0.01 $ 0.02 $ 0.02
> ======================== =======================
>
>Weighted average
> number of shares
> of common stock
> outstanding
> Basic 16,372,493 12,830,490 15,964,009 12,552,340
> ======================== =======================
> Diluted 18,372,493 15,354,106 17,964,009 15,075,956
> ======================== =======================
>
>
>
> Jupiter Marine International Holdings, Inc.
> Condensed Consolidated Balance Sheet
>
> January 28, July 30,
> 2006 2005
> (Unaudited)
>Current Assets $ 2,333,654 $ 2,092,268
> -------------- --------------
>Total Assets $ 3,952,161 $ 3,180,669
> ============== ==============
>
>Current Liabilities $ 1,529,917 $ 1,245,597
> -------------- --------------
>Total Liabilities $ 1,529,917 $ 1,245,597
> -------------- --------------
>
>Shareholders' Equity $ 2,422,244 $ 1,935,072
> -------------- --------------
>Total Liabilities and Shareholders'
> Equity $ 3,952,161 $ 3,180,669
> ============== ==============
>
>
>Contact:
>Jupiter Marine International Holdings, Inc.
>Lawrence S. Tierney, 954-523-8985
>or
>JMIH Investor Relations Counsel:
>The Equity Group Inc.
>Adam Prior, 212-836-9606
>Devin Sullivan, 212-836-9608
>
>==================================================
>JMIH: This press release may contain statements that constitute
>forward-looking statements within the meaning of the Private Securities
>Litigation Reform Act of 1995. The matters discussed in this press release
>include statements regarding the intent, belief or current expectations of
>the Company, its directors or its officers with respect to the future
>operating performance of the Company. Investors are cautioned that any
>such forward-looking statements are not guarantees of future performance
>and involve risks and uncertainties, and that actual results may differ
>materially from those in the forward-looking statements as a result of
>various factors. We were hired by the company for 200,000 shares and
>additionally made open market purchases.
>================================================
>Going Concern Statements.
>We would like to point out that the majority of companies listed on the
>OTC Bulletin Board have factors which create an
>uncertainty about the their ability to continue as a going concern. These
>concerns are typically related to financing (or lack of), competitive
>environments, lack of operating history and operating at loss levels which
>is typical of most start-ups.
>These statement can usually be found in their most recent 10Q filings and
>typically you don't have to dig to far down past the financial tables. We
>like to use http://www.pinksheets.com for quick and easy access to SEC
>filings. We think it would be wise for most investors to assume that all
>companies listed on the OTC Bulletin Board (and many on NASDAQ) have going
>concern issues.
>================================================
>Disclaimer: Important Distinction #1. First and foremost the Watch List is
>just that. A watch list. It is not a buy list. Meaning that there will be
>no buys or sales issued by the Internet Stock Review. If this was a buy
>list, you can rest assured that we would crank up our Public Relations arm
>into high gear, full speed ahead and damn the torpedoes to make everyone
>know just how brilliant we were when we issued the list. Interviews on
>CNBC, articles in Barron's and accolades in the Wall Street Journal--the
>only thing we love more than money is praise and fame--but it just isn't
>going to happen. What the Internet Stock Review is...is a "news
>aggregation service". With the advent of the Internet, everyone knows what
>that term means. What it means to us is the following: We will follow the
>progress of as many Internet related publicly traded stocks as humanly
>possible (The large, the small and the minuscule) and advise you of when
>they have reported news. As a subscriber to the Internet Stock Review,
>this means you will be able to broadly follow the entire industry right
>from a single e-mail. We will report who released news and point (with
>hyper links) to where the news can be found. We try to use Yahoo! Finance
>as extensively as possible so we don't send you all over cyberspace. We
>love Yahoo, you will too. Any decisions as to buy or sell however, are
>strictly up to you. Which leads to important distinction #2. How do we get
>paid? The Internet Stock Review is owned by a Public Relations firm
>(Internet PR Group, Inc) that specializes in getting (or creating)
>coverage for publicly traded companies. As such, is important to note that
>anytime we say anything about a company, it is because the company is a
>client of our parent company, or because we would like them to be a client
>of our parent company. In a nutshell, you can throw out any thoughts of us
>being even a little bit impartial. It just ain't gonna happen. We love
>everyone. Final note is we that have over 20,000 subscribers so please
>excuse our dust. Internet PR Group, Inc is an independent research and
>investor-relations consulting firm that publishes investment-research
>reports such as The Internet Stock Review on independently selected
>companies. While it is its intent to identify and research companies that
>it believes might prove to be profitable investments, The Internet Stock
>Review is not liable for any investment decisions by its readers. Neither
>The Internet Stock Review nor any report published by Internet PR Group,
>Inc represent a solicitation to buy or sell the securities discussed
>within the report. It is strongly recommended that any purchase or sale
>decisions be discussed with a financial adviser or broker prior to
>completing any such purchase or sale decision. The information contained
>herein is provided as an information service only and is based upon
>sources deemed reliable, but not guaranteed by The Internet Stock Review.
>Past performance of previously featured companies does not guarantee the
>future success of any currently featured or mentioned company. The
>information contained herein is subject to change without notice, and The
>Internet Stock Review assumes no responsibility to update the information
>in this or any report published. Use of this or any report published by
>The Internet Stock Review may be subject to the applicable rules of
>certain self-regulatory organizations and the securities mentioned herein,
>which are traded Over The Counter, and may not be cleared for sale in
>certain states. The Internet Stock Review and/or its employees, officers,
>affiliates or members of their families may have long or short positions
>in any of the securities discussed in this or other reports published
>herein (and/or options or warrants relating thereto) and may purchase and
>or sell these securities, options or warrants from time to time in the
>open market or otherwise. The Internet Stock Review may derive
>compensation through research services and subscriptions and/or
>investor-relations consulting from the companies featured or mentioned in
>its reports. Write or call The Internet Stock Review for disclosure
>details as required by Rule 17b as it relates to individual issues.
>Internet PR Group., In no event shall The
>Internet Stock Review report be liable for direct, indirect, incidental or
>consequential damages resulting from the use of this information. The
>Internet Stock Review shall be indemnified and held harmless from any
>actions, claims, proceedings or liabilities with respect to the
>information herein. The Internet Stock Review is not a securities
>broker-dealer, investment advisor or a securities exchange and is not
>registered as such with the Securities and Exchange commission nor any
>state securities regulation authority. Readers of this e-mail newsletter
>should recognize that the Internet Stock Review is only providing a
>delivery service to electronically transmit information to potential
>investors. In this respect, the Internet Stock Review is no different than
>the provider of any other delivery service such as the United States Post
>Office or any other express delivery service. Accordingly, investors
>should be aware that the Internet Stock Review has not evaluated nor
>investigated any of the companies listed in this e-mail to determine their
>merit or the risk of investment in any such company. The Internet does not
>endorse any company listed herein and the Internet Stock Review does not
>represent that the information contained in any offering documents states
>all material facts or does not omit a material fact necessary to make the
>statements therein not misleading. [e-mail]
>
>Institutional Analyst Inc.
>430 S Wesley
>Oak Park IL. 60302