Big news on WHLI!! Lets see what happens today!-->
Winsted Stewardship of Charlotte Laser & MedSpa Yielded Record $31,537 Last Week
Revised Annualized Revenue Now Stands at $1,639,924
NEWPORT BEACH, CA, Aug 24, 2005 (MARKET WIRE via COMTEX) -- Winsted Holdings, Inc. (OTC BB: WHLI), a Business Development Company (BDC), is pleased to announce that Nu Image MedSpa's Charlotte Laser & MedSpa had record revenue last week of $31,537. This translates to an annualized revenue of $1,639,924 should this weekly number stay consistent. As reported on July 19, 2005, under Winsted stewardship, strategies, operational enhancements and new practices have been implemented to increase revenue from current $1 million annual level to $2 million.
"Our stewardship of Charlotte has been in force for only 5 short weeks, and already it is generating substantial increase in weekly revenue numbers," stated Winsted CEO Mark Ellis. "We have to be careful how we extrapolate and annualize revenue numbers. By multiplying a record weekly number by 52, one can be misled to the wrong annual conclusion. This is why we waited until we had enough back-to-back numbers to increase the reliability of our annualized revenue numbers. Standard deviations aside, our marketing plan is in full swing, and the early results show extreme promise.
"The dramatic increase in weekly revenue is only half the story. We also put into place operational enhancements and set new practices. The breakeven point for the Charlotte medspa stands now at roughly $43,000 per month barring any extraordinary items. This means Charlotte made money last week, and improvements to efficiency should yield an ever-increasing wider margin. The credit for this early success goes to the staff at the Charlotte location for perfectly executing both marketing and operational plans," concluded Ellis.
