Bando McGlocklin Reports First Quarter Results.Business Editors PEWAUKEE, Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. .--(BUSINESS WIRE)--May 3, 2001 Bando  McGlocklin Capital Corporation (NASDAQ/NMS:BMCC BMCCbulk milk cell counts. ) today reported net income of $626,854 or $0.17 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share for the first quarter of 2001, compared to net income of $1,048,711 or $0.27 per diluted share for the same period in 2000. "Results for the first quarter of 2001 were just slightly under plan and were consistent with our expectations for the quarter," said George George, river, c.345 mi (560 km) long, rising in a lake on the Quebec-Labrador boundary, E Canada. It flows N through Indian Lake (125 sq mi/324 sq km) to Ungava Bay (an arm of Hudson Strait). R. Schonath, president and chief executive officer of Bando McGlocklin. "Comparison with the first quarter of 2000 is difficult because that was an exceptional quarter for us due to the highly successful introduction of `Small Wonder(TM)' during the period." "In the first quarter of 2001, Lee Middleton Middleton, city (1991 pop. 51,373), Rochdale metropolitan district, NW England, in the Greater Manchester metropolitan area on the Irk River. Manufactures include cotton, silks, chemicals, plastics, and soap. presented its largest introduction of new dolls and marketing programs designed to further increase sales and develop new customers. These include launching the Artist Studio(TM) Collection brand name for the company's limited-edition collectible collectible An asset of limited supply that is sought for a variety of reasons including, it is hoped, an increase in value. Stamps, antiques, coins, and works of art are among the many things usually classified as collectibles. dolls and creating an industry first with the introduction of one-day and one-week limited-edition collectible dolls which uniquely bear the date and time of production," Schonath said. "The March 1 production of the one-day limited edition doll was a sellout sellout The distribution of all the securities in a new issue by the selling group. in the first week." "We have also expanded the very successful `Small Wonder(TM)' play baby doll into a series with the addition of infant `Newborn newborn /new·born/ (noo´born?) 1. recently born. 2. newborn infant. new·born adj. Very recently born. n. A neonate. Wonder(TM)' and toddler `Playtime Wonder(TM).' Introduced at the Toy Fair show in February February: see month. , the new Wonder Series collection has quickly become a hit with dealers and major retailers alike. In addition, Lee Middleton will be offering its successful Newborn Nursery nursery, in horticulture, an establishment or area for the propagation, breeding, and early cultivation of plants. In North America the term nursery originally specified a place where hardy woody plants, especially fruit trees, were started; but as the market Adoption Center concept, which displays 20 baby dolls in a realistic nursery setting, to 50 of its best dealers," he said. "We are excited about Lee Middleton's growth potential as the company's very special lifelike baby dolls continue to build momentum among both customers and retailers." Directors of Bando McGlocklin have declared a regular quarterly dividend of $0.16364 on the common stock. The dividend is payable May 15, 2001, to shareholders of record May 5, 2001. At the Bando McGlocklin Capital Corporation annual meeting today, shareholders are expected to approve an amendment to the company's Articles of Incorporation The document that must be filed with an appropriate government agency, commonly the office of the Secretary of State, if the owners of a business want it to be given legal recognition as a corporation. changing the company name to The Middleton Doll Company. Bando McGlocklin Capital Corporation is an established financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company that owns Lee Middleton Original Dolls, Inc., a rapidly growing designer of high quality collectible and play dolls. Lee Middleton is the largest manufacturer of baby dolls 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. . Certain matters discussed in this press release are "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. " intended to qualify for the safe harbors 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. from liability established by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the company "believes," "anticipates," "expects" or words of similar import. Similarly, statements that describe the company's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which are described in close proximity to such statements and which could cause actual results to differ materially from those currently anticipated. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or . Bando McGlocklin Capital Corp. news releases are available on-line 24 hours a day at: http://www.bandomcglocklin.com
BANDO McGLOCKLIN CAPITAL CORPORATION AND SUBSIDIARIES
(NASDAQ/NMS:BMCC)
(Unaudited)
STATEMENTS OF OPERATIONS BY SEGMENT
Three months ended
March 31, 2001 March 31, 2000
-------------- --------------
Consumer Products:
Net sales $ 6,758,223 $ 6,580,718
Cost of sales 3,389,195 3,336,188
--------- ---------
Gross profit 3,369,028 3,244,530
Other expenses:
Operating expenses 2,617,799 2,050,635
Interest/rental expense to parent 412,260 293,559
Management fees to parent 102,419 130,500
Other expense (income) 34,539 (42,323)
Income tax expense 97,544 294,207
Minority interest in
earnings of subsidiary 24,452 30,816
------- -------
Total other expenses 3,289,013 2,757,394
Net income $ 80,015 $ 487,136
========= =========
Financial Services:
Net rental/interest income:
Interest on loans $ 2,319,575 $ 2,457,524
Rental income 962,905 684,661
Interest/rental income from
subsidiary 412,260 293,559
Interest expense (2,357,466) (2,189,630)
---------- ----------
Total net rental/interest
income 1,337,274 1,246,114
Other income:
Other income 51,981 33,310
Management fees from subsidiary 102,419 130,500
---------- ----------
Total other income 154,400 163,810
Other expenses:
Depreciation expense on
leased properties 198,699 140,338
Other operating expenses 386,708 386,513
---------- ----------
Total other expenses 585,407 526,851
Preferred stock dividends expense 359,428 321,498
---------- ----------
Net income $ 546,839 $ 561,575
========== ==========
STATEMENTS OF OPERATIONS - COMBINED
Net income:
Consumer Products $ 80,015 $ 487,136
Financial Services 546,839 561,575
--------- ----------
Net income available to common
shareholders $ 626,854 $ 1,048,711
Earnings Per Share - Basic $ 0.17 $ 0.27
Earnings Per Share - Diluted $ 0.17 $ 0.27
Average shares outstanding - Basic 3,727,589 3,952,693
Average shares outstanding - Diluted 3,727,589 3,953,906
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