Growth Company CALI Holdings, Inc. Announces 4 Month Financial Results for Site Utility Firm under Letter of Intent Tuesday June 14, 5:34 pm ET
ORLANDO, Fla.--(BUSINESS WIRE)--June 14, 2005--CALI Holdings, Inc. ("Company" or "CALI") (OTCBB:CALI - News), announced today the financial results for its current underground utility acquisition candidate for the four months ending April 30, 2005. The underground utility firm's first four months revenue are $12.9M with an adjusted EBITDA of $563,809. The firm is currently on track for revenues of approximately $35M for fiscal 2005 with an adjusted EBITDA of approximately $2.8M. It was previously disclosed that the firm had forecasted approximately $30M in revenue with an adjusted EBITDA of approximately $2.6M. The firm has a current backlog of approximately $26M.
James Jenkins, CEO of CALI Holdings stated, "Management is happy with the financial results and anticipate the acquisition candidate will hit the previously announced forecasted numbers. CALI is currently performing its due diligence and will keep the investment community informed as we move forward."
About CALI Holdings Inc.
CALI Holdings Inc., is a Business Development Company under the Investment Act of 1940 aggressively seeking opportunities in emerging and fast growth industries. http://www.caliholdings.com
Safe Harbor
The statements made in this release constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report Filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
-------------------------------------------------------------------------------- Contact: For CALI Holdings, Inc., Orlando Loyola Financial Shareholder Services Jerry Bacall, 800-963-6473 cali@4lfs.com http://www.4lfs.com
-------------------------------------------------------------------------------- Source: CALI Holdings Inc.
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