Ableauctions Announces 4th Quarter Profits Expected to Exceed 2004 Quarterly Average by 400%.FIFE Fife, council area, Scotland Fife, council area (1993 est. pop. 351,200), 510 sq mi (1,322 sq km), and former county, E Scotland, between the Firth of Forth and the Firth of Tay. The land rises to 1,500 ft (457 m) in the Lomond Hills. , Wash. -- Ableauctions.com Inc. (AMEX AMEX See: American Stock Exchange :AAC (Advanced Audio Coding) An audio compression technology that is part of the MPEG-2 and MPEG-4 standards. AAC, especially MPEG-4 AAC, provides greater compression and better sound quality than MP3, which also came out of the MPEG standard. ) (the "Company") announced today that its net income for the fourth quarter of 2004 is expected to exceed the quarterly average for the three previous quarters by 400%. The Company expects to realize net income of over $210,000 in the fourth quarter of 2004, compared to the average net income of approximately $55,000 for the three previous quarters in 2004. The annual revenue for fiscal year 2004 is expected to be approximately $5 million with net income to exceed $365,000, compared to revenue of $778,102 and net income of $144,156 for 2003. The Company expects to issue a forecast for fiscal year 2005 shortly. About Ableauctions.com Ableauctions.com is a high-tech auctioneer AUCTIONEER, contracts, commerce. A person authorized by law to sell the goods of others at public sale. 2. He is the agent of both parties, the seller and the buyer. 2 Taunt. 38, 209 4 Greenl. R. 1; Chit. Contr. 208. 3. that conducts auctions live and simultaneously broadcasts them over the Internet. With the experience of over 3,000 auctions, the Company has developed state-of-the-art technology to broadcast Internet auctions (www.ableauctions.com/technology) and currently provides technology and related services to auction houses, enabling them to broadcast auctions over the Internet. For a comprehensive Corporate Update and prior releases, visit www.ableauctions.com. For more information, contact Investor Relations Investor relations The process by which the corporation communicates with its investors. at investorrelations@ableauctions.com. About iCollector.com iCollector.com is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Ableauctions and is the independent connection to the world's auction houses. It was the first company dedicated to trading antiques, fine art and premium collectibles on the Internet and today represents some of the world's leading auction houses. Since January 2001, it has broadcast hundreds of live auctions in real-time on eBay Live Auctions, directly from the salesroom as the auction happens. iCollector can help you find, buy or sell art, antiques and collectibles online. About iTrustee and Unlimited Closeouts iTrustee.com Technologies Ltd. and Unlimited Closeouts Inc. are wholly owned subsidiaries of Ableauctions.com Inc. iTrustee.com is a reseller An organization that sells hardware and software to the general public. Resellers purchase products from software publishers and hardware manufacturers. platform designed to sell Designed to Sell is an HGTV American reality television show hosted by Clive Pearse. The show focuses on the fixing up and renovation of a home that is about to go on the market. It is one half hour long and is produced by Pietown Productions. The show began airing in 2004. bank and trustee inventories, as well as distressed merchandise, exclusively to resellers, auctioneers and liquidators. This press release contains 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. , particularly as related to, among other things, the business plans of the Company, statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc goals, plans and projections regarding the Company's financial position and the Company's business strategy. These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by these sections. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the performance of our on-line auction business, our ability to implement our inventory procurement strategy, general economic conditions, our ability to license our software to other auction houses, our ability to acquire profitable companies and integrate them into our business successfully and other factors that are detailed in our Annual Report on Form 10-KSB and on documents we file from time-to-time with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results may differ materially from the Company's expectations and estimates. |
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