PRVH - Press ReleaseSource: Providential Holdings, Inc.
Providential Holdings to Post Profitable Operating Results for Current Quarter
Wednesday June 25, 7:02 am ET
FOUNTAIN VALLEY, Calif.--(BUSINESS WIRE)--June 25, 2003--Providential Holdings, Inc. (OTCBB: PRVH - News; Berlin: PR7, WKN 935160)(www.phiglobal.com) today announced that the Company expects to post substantial profitable operating results for the quarter ending June 30, 2003.
Providential Holdings has taken decisive steps to reorganize its business portfolio and refocus its resources and energy on those areas that can bring about near-term bottom-line performance and profitability. Concurrently, the Company also pays attention to top-line growth and capital efficiency as well as future potential and robustness against multiple scenarios in the horizons.
The Company anticipates reporting continued revenue growth and profitable results in the coming quarters through its M&A activities, mobile entertainment products, Provimex division and other initiatives.
Henry Fahman, Chairman and CEO of Providential Holdings, stated: "We have persevered through one of the toughest times in the history of our Company. We have made some mistakes in the past but have also learned invaluable lessons that have helped reshape our Company into a more disciplined, resilient and responsive organization." Fahman added: "We believe this turnaround marks the beginning of a new area that will witness continued growth and value creation for our shareholders and investors."
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