Bando McGlocklin Reports Increased Revenues and Profit for 1998.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)--March 9, 1999--Bando McGlocklin Capital Corporation (NASDAQ/NMS:BMCC BMCC bulk milk cell counts. ) today reported revenues of $9,957,461 for the fourth quarter of 1998, a 4.6% increase from revenues of $9,519,518 for the same period in 1997. Net income for the fourth quarter of 1998 was $1,292,701 or $0.35 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, up 79.8% from net income of $719,042 or $0.20 per diluted share for the same period in the prior year. For the year ended December December: see month. 31, 1998, the company reported revenues of $31,957,127 for 1998, a 3.4% increase from revenues of $30,919,341 for 1997. Net income was $3,769,637 or $1.02 per diluted share for 1998, up 7.5% from net income of $3,506,380 or $0.95 per diluted share in 1997. "This was a good year for Bando  McGlocklin in terms of
positioning the company for the future. During the year, we increased
our ownership of 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. Original Dolls Dollspedophobia, paedophobia an abnormal fear of dolls. planganologist a collector of dolls. , Inc. to 100% and acquired an $18.9 million leased properties portfolio," 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. "We believe Lee Middleton Original Dolls has excellent growth potential and will generate significantly increased earnings over the next three to five years. There is an incredible demand for these award-winning Adj. 1. award-winning - having received awards; "this award-winning bridge spans a distance of five miles" lifelike 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. Lee Middleton dolls were among the hottest sellers and most talked-about dolls at the 1999 gift show season. With increased national distribution through outlets including Toys-R-Us, FAO FAO, n See Food and Agriculture Organization. Schwartz Schwartz is a Canadian spices brand. It is also a common surname and may refer to:
Bando McGlocklin Capital Corporation owns Bando McGlocklin Small Business Lending Corporation and Lee Middleton Original Dolls, Inc. Bando McGlocklin Small Business Lending Corporation makes first mortgage loans and leases real estate to small business. Lee Middleton Original Dolls markets lifelike collectible baby dolls through major retailers and dealers nationwide. 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 PROXIMITY. Kindred between two persons. Dig. 38, 16, 8. 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.businesswire.com/cnn/bmcc.htm
BANDO McGLOCKLIN CAPITAL CORPORATION AND SUBSIDIARIES
(NASDAQ/NMS:BMCC)
(Unaudited)
CONSOLIDATED STATEMENTS OF OPERATIONS
Three months ended Twelve months ended
December 31, December 31,
------------ ------------
1998 1997 1998 1997
---- ---- ---- ----
Consumer Products:
Net sales $ 6,866,068 $ 6,554,391 $ 19,745,491 $ 19,000,778
Cost of sales 3,808,887 3,906,581 10,448,494 10,381,039
--------- --------- ---------- -----------
Gross profit 3,057,181 2,647,810 9,296,997 8,619,739
Operating expenses 1,637,615 1,904,437 5,591,156 4,980,819
Other income 15,564 21,449 78,698 57,945
--------- --------- ---------- -----------
Net income before
income taxes and
minority interest 1,435,130 764,822 3,784,539 3,696,865
Provision for
income taxes (671,929) (411,729) (1,492,636) (1,539,265)
Minority interest
in earnings of
subsidiaries (3,510) (144,392) (216,136) (1,082,362)
--------- --------- ---------- -----------
Net income $ 759,691 $ 208,701 $ 2,075,767 $ 1,075,238
========= ========= ========== ===========
Financial Services:
Revenues:
Interest
on loans $ 2,366,217 $ 2,868,148 $ 10,698,422 $ 11,021,265
Rental income 647,252 -- 1,183,891 --
Other income 77,924 96,979 329,323 897,298
--------- --------- ---------- -----------
Total revenues 3,091,393 2,965,127 12,211,636 11,918,563
--------- --------- ---------- -----------
Expenses:
Interest
expense 2,266,855 2,097,583 9,036,543 6,936,230
Operating
expenses 291,528 357,203 1,481,223 2,551,191
--------- --------- ---------- -----------
Total expenses 2,558,383 2,454,786 10,517,766 9,487,421
--------- --------- ---------- -----------
Net income $ 533,010 $ 510,341 $ 1,693,870 $ 2,431,142
========= ========= ========== ===========
Total Company:
Total revenues $ 9,957,461 $ 9,519,518 $ 31,957,127 $ 30,919,341
========= ========= ========== ===========
Net income before
income taxes and
minority interest$ 1,968,140 $ 1,275,163 $ 5,478,409 $ 6,128,007
Provision for
income taxes (671,929) (411,729) (1,492,636) (1,539,265)
Minority interest in
earnings of
subsidiaries (3,510) (144,392) (216,136) (1,082,362)
--------- --------- ---------- -----------
Net income $ 1,292,701 $ 719,042 $ 3,769,637 $ 3,506,380
========= ========= ========== ============
Earnings Per
Share - Basic $ 0.35 $ 0.20 $ 1.02 $ 0.95
Earnings Per
Share - Diluted $ 0.35 $ 0.20 $ 1.02 $ 0.95
Average shares
outstanding
- Basic 3,689,102 3,689,102 3,689,102 3,685,990
Average shares
outstanding
- Diluted 3,690,546 3,691,420 3,691,570 3,697,587
CONDENSED CONSOLIDATED BALANCE SHEETS
As of
December 31, 1998 December 31, 1997
----------------- -----------------
Total consumer
products assets $ 14,545,627 $ 8,168,984
------------ -------------
Loans 115,759,968 130,413,277
Leased properties 22,006,266 399,844
Total financial
services assets 139,878,460 132,168,246
------------ -------------
Total assets $ 154,424,087 $ 140,337,230
============ =============
Total consumer products
liabilities $ 2,743,308 $ 2,150,487
------------ -------------
Short-term
borrowings 53,527,321 32,509,972
Long-term debt 67,470,407 75,250,467
Other liabilities 1,898,342 1,090,965
------------ -------------
Total financial
services liabilities 122,896,070 108,851,404
------------ -------------
Minority interest
in subsidiaries 20,399 1,684,512
Preferred stock 16,908,025 16,908,025
Total shareholders'
equity 11,856,285 10,742,802
------------ -------------
Total liabilities and
shareholders' equity $ 154,424,087 $ 140,337,230
=========== ============
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