Phoenix Associates Land Syndicate (fka PBLSQ)

[LowFloatGoat]

Operating Profit: Q1-07= $3,453,197 while operating profit for the entire year of 2006 was $7,377,670. It looks like the growth is coming from an increase in Revenue while holding operating costs at last year's level. Operating costs for all of 2006 were over $11 million. Operating costs for Q1 07 were about $3 million (x 4 qtrs would be $12 million for all of 2007).

In my mind, the above is the key information from the Q1-07 qrtrly report.