Expo Holdings, Inc. Reports Financial Performance for 2007
Wednesday March 19, 1:30 pm ET
Expo Holdings, Inc. Posts 17% Increase in 4th Quarter Sales
NORTH WILKESBORO, NC--(MARKET WIRE)--Mar 19, 2008 -- Expo Holdings, Inc. (Other OTC:EXPH.PK - News), a holding Company, which wholly owns D&D Displays, Inc., is pleased to announce it will be releasing financials on pinksheets.com showing $4,880,235 in total revenue for 2007.
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Revenues were up slightly from 2006 and up 17% in the fourth quarter over the same period the previous year. There was an 11% increase in materials and shipping due to the increasing cost of fuel and oil based products. Selling, general and administrative costs were reduced 1.5% over the previous year. Gross profit was $1,012,717 with an operating loss of $205,882. Complete financials for 2007 will be available for viewing at pinksheets.com.
James D. Brown, Expo Holdings CEO, stated, "Within the first two days of 2008 we added $69,000 in sales which we were unable to report within the annual statement for 2007. In the fourth quarter we posted total sales of $1,433,595 closing 2007 on a very strong note. Rising fuel prices and inflation have increased our cost of goods and we are currently working on ways to improve on this in 2008. We are expecting to return to profitable operations in 2008 as we continue to streamline our operations and focus on industry leaders."
The company recently took action to reduce the total outstanding shares to 314M shares. As of March 18th, 2008, the company had an estimated market capitalization of just over 3 million, a figure well below the company's average annual revenue figures. Currently the company is bidding projects that exceed our annual revenues for 2007. These bids, if awarded, are multi-year in nature. The company has also begun negotiations and signed a letter of intent to acquire its first retail outlet to sell its own line of garage and closet products as well as other home improvement items in 2008. Additionally, another retail outlet featuring our garage storage products is in the works. We will formally announce an update regarding these two outlets as material events occur.
The company will shortly be handing over its 2007 financials to its independent PCAOB auditor to complete the process of its 2-year audit. 2006 financials are already audited and are posted on pinksheets.com. Once complete the company will be in a position to file form 10KSB with the Securities and Exchange Commission to become a fully reporting issuer. The company will then seek a listing on the Over-the-Counter Bulletin Board for trading in its common stock.
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