Bando McGlocklin Reports Third Quarter Results.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)--Nov. 11, 1998--Bando McGlocklin Capital Corporation (NASDAQ/NMS:BMCC BMCC bulk milk cell counts. ) today reported net income of $1,320,890 or $0.36 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 third quarter of 1998, compared to net income of $852,863 or $0.23 per diluted share for the same period in 1997. Total revenues were $8,843,756 for the third quarter of 1998, compared to revenues of $8,000,274 for the third quarter of the prior year. For the first nine months of 1998, net income was $2,476,936 or $0.67 per diluted share, compared to net income of $2,787,338 or $0.75 per diluted share for the same period in 1997. Net income for the first nine months of 1997 includes $500,000 in non-recurring income received from an executive's life insurance policy. Total revenues were $21,999,666 for the first nine months of 1998, compared to revenues of $21,399,822 for the comparable prior period. "Results for the third quarter of 1998 include 100% ownership of the 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 Doll doll, small figure of a human being, usually used as a child's toy. The many types of dolls found among the relics of primitive peoples were cult objects. Egypt, Greece, and Rome have left well-preserved dolls of wood, clay, bone, ivory, and bronze that were used Company, compared to 51% ownership in the third quarter of 1997," 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. Net sales Net SalesThe amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the company's consumer products segment were $5,638,757 for the third quarter of 1998, a 17.7% increase from the third quarter of the prior year. Net income for the consumer products segment before income taxes and minority interest rose 15.4% to $1,386,643 in the third quarter of 1998, compared to $1,201,270 for the comparable prior period. Schonath said results of the company's 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. segment include rental income Noun 1. rental income - income received from rental properties income - the financial gain (earned or unearned) accruing over a given period of time of $523,949 resulting from the acquisition of an $18.9 million leased properties portfolio early in the third quarter. "We continue to make good progress in growing both our consumer products and financial services businesses," Schonath said. Founded in 1980, Bando McGlocklin Capital Corporation (BMCC) owns 100% of Bando McGlocklin Small Business Lending Corporation (BMSBLC) and 99% of Bando McGlocklin Investment Corporation (BMIC BMIC British Music Information Centre BMIC Bangalore-Mysore Infrastructure Corridor (expressway between Bangalore and Mysore, Karnataka, India) BMIC Busmaster Interface Controller BMIC Bus Master Interface Chip ). BMSBLC makes first mortgage loans and leases "owner occupied "Owner occupied" may also refer to a housing cooperative Owner occupied is a classification of UK housing tenure as described by the Department for Communities and Local Government, a UK government department that has amongst its remit the monitoring of the UK housing stock. " type real estate to small business. As a real estate investment trust, BMSBLC distributes at least 95% of its taxable income Under the federal tax law, gross income reduced by adjustments and allowable deductions. It is the income against which tax rates are applied to compute an individual or entity's tax liability. The essence of taxable income is the accrual of some gain, profit, or benefit to a taxpayer. to shareholders of BMCC as dividends. BMIC owns 100% of Lee Middleton Original Dolls Dolls pedophobia, paedophobia an abnormal fear of dolls. planganologist a collector of dolls. , Inc. of Belpre, Ohio Belpre is a city in Washington County, Ohio, United States, along the Ohio River. It is a suburb of Parkersburg, West Virginia. The population was 6,660 at the 2000 census. The city was also the second settlement of the Northwest Territory after Marietta, Ohio. , and 51% of License Products, Inc. of New Berlin, Wisconsin New Berlin is a city in Waukesha County, Wisconsin, United States. The population was 38,220 at the 2000 census. The city was named for New Berlin, New York. There being five other New Berlin's in the United States, New Berlin, Wisconsin is the largest New Berlin in population, . These subsidiaries manufacture 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. and licensed consumer products for distribution through major retailers as well as 1,800 dealers across the country. 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 Nine months
ended ended
September 30 September 30
------------ ------------
1998 1997 1998 1997
---- ---- ---- ----
Consumer Products:
Net sales $5,638,757 $4,791,450 $12,879,423 $12,446,386
Cost of sales 2,870,483 2,415,934 6,639,607 6,474,457
----------- ----------- ------------ -----------
Gross profit 2,768,274 2,375,516 6,239,816 5,971,929
Operating expenses 1,364,893 1,180,424 3,953,541 3,076,382
Other income (16,738) 6,178 63,134 36,496
----------- ----------- ------------ -----------
Net income before
income taxes and
minority interest 1,386,643 1,201,270 2,349,409 2,932,043
Provision for income
taxes (441,767) (439,728) (820,707) (1,127,536)
Minority interest in
earnings of
subsidiaries (5,475) (359,933) (212,626) (937,970)
----------- ----------- ------------ -----------
Net income $939,401 $401,609 $1,316,076 $866,537
----------- ----------- ------------ -----------
----------- ----------- ------------ -----------
Financial Services:
Revenues:
Interest on loans $2,600,828 $3,005,909 $8,332,205 $8,153,117
Rental income 523,949 -- 536,639 --
Other income 80,222 202,915 251,399 800,319
----------- ----------- ------------ -----------
Total revenues 3,204,999 3,208,824 9,120,243 8,953,436
----------- ----------- ------------ -----------
Expenses:
Interest expense 2,361,240 1,979,686 6,769,688 4,838,647
Operating expenses 462,270 777,884 1,189,695 2,193,988
----------- ----------- ------------ -----------
Total expenses 2,823,510 2,757,570 7,959,383 7,032,635
----------- ----------- ------------ -----------
Net income $381,489 $451,254 $1,160,860 $1,920,801
----------- ----------- ------------ -----------
----------- ----------- ------------ -----------
Total Company:
Total revenues $8,843,756 $8,000,274 $21,999,666 $21,399,822
----------- ----------- ------------ -----------
----------- ----------- ------------ -----------
Net income before
income taxes and
minority interest $1,768,132 $1,652,524 $3,510,269 $4,852,844
Provision for income
taxes (441,767) (439,728) (820,707) (1,127,536)
Minority interest in
earnings of
subsidiaries (5,475) (359,933) (212,626) (937,970)
----------- ----------- ------------ -----------
Net income $1,320,890 $852,863 $2,476,936 $2,787,338
----------- ----------- ------------ -----------
----------- ----------- ------------ -----------
Earnings Per Share
- Basic $0.36 $0.23 $0.67 $0.76
Earnings Per Share
- Diluted $0.36 $0.23 $0.67 $0.75
Average shares
outstanding - Basic 3,689,102 3,685,247 3,689,102 3,684,942
Average shares
outstanding - Diluted 3,691,576 3,691,420 3,691,819 3,701,098
CONDENSED CONSOLIDATED BALANCE SHEETS
As of
September 30, December 31,
1998 1997
------------- -------------
Total consumer products assets $13,319,461 $8,168,984
------------ ------------
Loans 112,085,983 130,413,277
Leased properties 21,989,037 399,844
Total financial services assets 135,518,601 132,168,246
------------ ------------
Total assets $148,838,062 $140,337,230
------------ ------------
------------ ------------
Total consumer products liabilities $2,410,167 $2,150,487
------------ ------------
Short-term borrowings 46,289,992 32,509,972
Long-term debt 68,184,549 75,250,467
Other liabilities 3,800,816 1,090,965
------------ ------------
Total financial services liabilities 118,275,357 108,851,404
------------ ------------
Minority interest in subsidiaries 16,890 1,684,512
Preferred stock 16,908,025 16,908,025
Total shareholders' equity 11,227,623 10,742,802
------------ ------------
Total liabilities and
shareholders' equity $148,838,062 $140,337,230
------------ ------------
------------ ------------
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