Baywood International Reports 1995 and 1996 First Quarter Results.SCOTTSDALE, Ariz.--(BUSINESS WIRE)--April 17, 1996--Baywood International Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: BYWD) reported revenues and earnings for 1995 and the first quarter of 1996. Revenues for the year ended Dec. 31, 1995, decreased to $1.7 million compared to $3.1 million in 1994. The net loss in 1995 is $2.7 million compared to $2.0 million in 1994. Net loss per common share in 1995 was $(0.20) and in 1994 $(0.161). Revenues for the three months ended March 31, 1996, increased to $784,527, an increase of 382% compared to $162,922 revenues for the same period last year. Net income for the first quarter of 1996 was $59,740 or $.004 per share compared to a net loss of ($592,056) or $(.045) per share during the same period of 1995. The following 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. are made in reliance upon Section 21D of the Exchange Act of 1934. Actual results could differ materially from those projected. Karl Rullich, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated that since Jan. 1, 1996, the company has embarked on a new accountability standard. This is producing greater customer contact and new approaches in sales implementation. It has started the company in an upward direction, which shall continue to bring greater sales and profits. Important factors which could hinder hin·der 1 v. hin·dered, hin·der·ing, hin·ders v.tr. 1. To be or get in the way of. 2. To obstruct or delay the progress of. v.intr. the company's upward movement and adversely affect sales and profits are disruption disruption /dis·rup·tion/ (dis-rup´shun) a morphologic defect resulting from the extrinsic breakdown of, or interference with, a developmental process. of relationships between the U.S. and Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. countries which Baywood services, and slower than expected penetration of U.S. domestic markets. CONTACT: Baywood International Inc., Scottsdale Karl H. Rullich, 602/951-3956 |
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