NOT a recommendation but a stock to watch. MONDAY, FEBRUARY 24, 2003 12:10 PM
- PR Newswire
UCAP forecast 90%+ increase in Revenue for Calender 2003
DENVER, Feb 24, 2003 /PRNewswire-FirstCall via COMTEX/ -- UCAP, Inc. (OTC Bulletin Board: UCAP), a leading national mortgage lender committed to setting the next generation standard in mortgage banking, announced its guidance today for calendar 2003, representing Q2 and Q3 of Fiscal 2003 ending June 30, 2003 and Q1 and Q2 of Fiscal 2004 ending December 31, 2003. The Company's Board of Directors recently voted to change the Company's fiscal year end to June 30, thereby creating a stub period. The announcement was made by Dan Moudy, UCAP Chairman and CEO.
The guidance being issued has been iterated on a quarterly basis by Loan Originations, Revenues, Pretax Income, Net Income and EPS.
Q2 Q3 Q1 Q2
Mar. 31, June 30, Sept. 30, Dec. 31, Total
'03 '03 '03 '03
Originations $400 mm $653 mm $811 mm $807 mm $2.67 b
Revenues $6.5 mm $10.4 mm $13.8 mm $14.6 mm $45.2 mm
Pretax Income $.384 mm $2.2 mm $3.5 mm $4.2 mm $10.3 mm
Net Income $.238 mm $1.4 mm $2.2 mm $2.6 mm $6.4 mm
EPS (fully
diluted) $0.01 $0.04 $0.06 $0.07 $0.18
Mr. Moudy noted, "Our significant quarterly revenue increases are almost exclusively the result of organic growth. While many other companies have been impacted by the slowing economy, our business and growth continues unabated with UCAP forecasting a remarkable 90% increase in revenues and an EPS of $0.18 versus a loss of $0.11 for the comparable period. We believe that our future results will continue to reflect the strength in our underlying business and our unwavering commitment to growth in both the top line and bottom line."
About UCAP
