20/20 FINANCIAL - OPERATING CASH FLOW INCREASES 11 PERCENT FROM JUNE, 1994.OAKVILLE Oakville, town (1991 pop. 114,670), Ont., Canada, on Lake Ontario, between Toronto and Hamilton. A major component of the local economy is the Ford Motor Co plant, one of the largest auto plants in Canada. , ONTARIO--(BUSINESS WIRE)--JULY 31, 1995--20/20 FINANCIAL CORP. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , ME: TTF TTF TrueType Font (file extension; Windows) TTF Transportation Trust Fund TTF Thyroid Transcription Factor TTF Timber Trade Federation TTF Time-to-Treatment Failure (endpoint in clincial trials) ) 20/20 Financial Corporation, a Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. mutual fund management firm, today announced that cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses increased to $0.91 per share for the second quarter of 1995 from $0.76 per share during the first quarter of 1995. Year to date cash flow increased 11 percent to $10.8 million for the six months ending June June: see month. 30, 1995 from $9.7 million for the same period in 1994. "Improving investment returns and operational efficiencies are driving our improved results", said John Wood, President of 20/20 Financial Corporation. Market appreciation among the 20/20 Family of Funds Family of Funds A group of mutual funds offered by one investment or fund company. Each mutual fund has different characteristics and can range depending on investment objective. Also referred to as a "Mutual Fund Family" or simply a "Fund Family". added $138 million to the asset base during the second quarter of 1995. "The recent upturn in capital markets contributed to an increase in our market performance. Market performance for the Family of Funds increased 243 percent from the first quarter of 1995", added Mr. Wood. Assets under administration increased 12 percent to $2.8 billion at June 30, 1995 from $2.5 billion for the same period in 1994. This compares to industry growth in assets of 6 percent. -0- The company's results were as follows:
Six Months to June 30, Three Months to June 30,
1995 1994 1995 1994
(000's) (000's) (000's) (000's)
-----------------------------------------------
Revenue $ 36,941 $ 28,714 $ 18,228 $ 15,273 Earnings $ (1,401)(1) $ 515(2) $ (508)(3) (112)(4) Operating Cash Flow $ 10,836 (5) $ 9,707 $ 5,889 $ 4,825 Earnings Per Share $ (0.22) $ 0.08 $ (0.08) $ (0.02) Operating Cash Flow Per Share $ 1.67 $ 1.49 $ 0.91 $ 0.74 Assets Under Administra- tion $2,750,000 $ 2,465,000
(1) net of amortization of deferred selling commissions of
$12.6 million
(2) net of amortization of deferred selling commissions of
$7.9 million
(3) net of amortization of deferred selling commissions of
$6.5 million
(4) net of amortization of deferred selling commission of
$4.5 million
(5) Cash flow from operations before changes in non-cash
working capital-0-
20/20 Financial Corporation is a Mutual Fund Management firm that provides investment management, marketing and administrative services to the 20/20 MultiManager(TM) Family of Funds. CONTACT: Laurie Davis Chief Financial Officer (905) 339-2020 20/20 Financial Corporation REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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