142% Revenue Increase for Speedemissions in 2005; Estimate 2006 Revenue to Hit $10.9 Million Dollars.ATLANTA -- Speedemissions, Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : SPMI SPMI Syndicat de la Presse Magazine et d'Information (French syndicate for news & newspaper) SPMI Severe & Persistent Mental Illness SPMI System Performance Measurement Interface SPMI Socialist Party of Michigan ), a leading vehicle emissions testing and safety inspections company for cars, SUVs, vans and pick-up trucks announced its year end revenue numbers with the filing of its annual report Form 10-KSB. With its two very key acquisitions as the anchor, Speedemissions revenue rose to $6,952,200.00 up from $2,867,921.00 in 2004 a 142% increase. In 2005 Speedemissions operations reflected a significantly different company than in 2004. The two acquisitions made by the company increased their number of vehicle emissions testing stations to 35, expanded its market share in the Houston market and established its presence in the Salt Lake City market. While net losses were $3,550,715, this included $1,660,538 in non-cash losses for warrant settlement expense. Actual losses from operations were $1,890,177 and were a significant improvement of $1,081,879 over 2005. Just as importantly, the acquisitions and capital raising activities of the company further impacted the net operating losses Net operating losses Losses that a firm can take advantage of to reduce taxes. with substantial increases in both accounting and legal expense. Rich Parlontieri, President/CEO of Speedemissions added, "Of the 14 new stations brought onboard in July and September of '05, we could only capture revenue for six and three months respectively from those locations. This year we'll be able to realize all their revenue and, coupled with us now operating the 2004 acquisitions in our system, we expect revenues will continue to increase at a faster rate than G&A expenses and these efficiencies will result in a profitable operation in 2006." About Speedemissions Inc. http://www.speedemissions.com Speedemissions, Inc., based in Atlanta, Georgia, plans to become the leading vehicle emissions (and safety inspection where required) company in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. in areas where auto testing is mandated by the Environmental Protection Agency Environmental Protection Agency (EPA), independent agency of the U.S. government, with headquarters in Washington, D.C. It was established in 1970 to reduce and control air and water pollution, noise pollution, and radiation and to ensure the safe handling and (EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. ). Since the emissions testing market is highly fragmented, Speedemissions expects to be the first company to create a national brand offering their customers quick and efficient vehicle emissions testing service. The focus of the company is in the Atlanta, Georgia, Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the and Slat Lake City markets. The Company expects to continue to rapidly expand store sites. Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to continued market acceptance for Speedemissions' products and services, its ability to succeed in growing revenue, the effect of new competitors in its market, integration of acquired businesses, and other risk factors identified from time to time in its filings with the Securities and Exchange Commission. |
|
||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion