First Guardian Financial Corporation Issues Revenues & Earnings Guidance
Business Wire - October 13, 2006 9:01 AM ET
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First Guardian Financial Corporation (PINK SHEETS:FGFC), a Financial Holding Company specializing in short term high yield commercial real estate financing, leasing & business financing today issued its Revenue & Earnings projections/guidance for the calendar year 2006.
The Company expects year end gross revenues to meet or exceed $6,800,000 to $7,300,000 of which does not include a one time windfall from its land deal of approximately $1,100,000 as this revenue has not been realized yet, as the closing has not occurred when it does the revenues and net income will be revised accordingly. The Company fully expects to report positive net income of 14% to 16% on its core business operations. With the addition of the one time windfall from the sale of its interest in the land contract to bolster the bottom line even further.
The company is awaiting the revenue from the land deal so that it may be incorporated into its year end balance sheet so that it will be part of its year end audited financial statements.
The company realizes revenue from the fees (points) it collects up front from its lending activities (usually 3% to 6%) plus administrative fees/loan servicing fees and the interest spread between what the company pays for the money it lends (warehouse credit lines) and what it charges its borrowers, the spread is usually 3% to 6% on a short term basis (two years maximum).
More details will be forthcoming when the company issues its exact earnings and audited financial statements on or before the end of December.
About First Guardian Financial Corporation:
The company is a Financial Holding Company currently providing Commercial Real Estate Financing & Invests for its own portfolio in small to mid sized businesses. Its primary goal is to provide short term financing within the commercial real estate market and invest and or provide secured short term financing to businesses either in the start up stage or growth stage throughout the United States.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
SOURCE: First Guardian Financial Corporation
First Guardian Financial Corporation
Investor Relations, 212-572-4823
Fax: 212-572-6499
ir@guardianfinancialcorp.com
www.guardianfinancialcorp.com
