Expert Group Inc. Releases 3rd Quarter Financials
Date : 11/05/2009 @ 8:45AM
Source : MarketWire
Stock : Expert Group (EXPU)
Quote : 0.056 0.004 (7.69%) @ 11:32AM
Expert Group Inc. Releases 3rd Quarter Financials
MIAMI, FL -- (Marketwire) -- 11/05/09 -- Expert Group, Inc. (PINKSHEETS: EXPU), a financial Lending Institution specializing in Home and Commercial Real Estate Loans, is pleased to announce 3rd Quarter results.
Total revenues were $305,502.56 for the quarter ended September 30, 2009, which compares to total revenues of $85,303.76 for the quarter ended September 30, 2008, a 258.13% increase.
The Company recorded net income of approximately $187,192.17 or $.0044 earnings per share, for the quarter ended September 30, 2009. This represents a 350% increase when compared to total net income for the quarter ended September 30, 2008.
Robert Rico commented: "We are very pleased with the fiscal growth that we have realized and continue to realize here at Expert Group. The above revenue and income numbers do not take into account that we have recently expanded operations by opening 2 new locations as well as doubled the size of our staff of originators. We project to see those new location numbers be a significant increase to our 4th quarter 2009 revenues. Some contributing factors to the increase in revenues and net income were Increases in originators and originations, Acquiring FHA license in 2009, Partnering with several new banks."
Robert Rico continued: "Our plan is to expand our services by opening multiple locations. Such locations will be a community bank type of store front in highly populated areas. We plan to open new locations and expand to over 400 originators in 2010. In today's marketplace there is a great environment to create an infrastructure to be the leader in retail mortgage lending, taking the opportunity created by the government's assistance to banks with funds to make loans more readily available."
CEO Robert Rico concluded: "I firmly believe our strongest quarter in 2009 will be the fourth quarter. On Nov 16, 2009 We Celebrate the Grand Opening of Our Bal Harbour Location. The City will present us with a Ribbon cutting ceremony as well as The Proclamation Award. We launched a marketing campaign with Clear Channel. Expert is working in creating the proper scenario to brand itself as the 'go to' firm for all your real Estate lending needs."
About Expert Group, Inc.
Expert Group, Inc. markets a variety of financial products and services through Expert Financing & Investments; Expert is licensed by the Department of Financial Regulations and a member of FAMB, FHA and VA Lender.
About Expert Financing:
Expert Financing offers up-to-date loan programs tailored to all borrowers' needs, specializing in Fannie Mae, Freddie Mac, FHA, conventional and non-conventional loans of all sizes. Let Expert Find The right Loan for you.
Certain statements in this release and the attached corporate profile that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors.
Contact:
Expert Group, Inc.
www.ExpertFinancing.net
www.Expertgroupblog.com
Or call:
305-949-LOAN (5626)
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