Champions Sports, Inc. Reports Quarterly Results.
ARLINGTON, Va.--(BUSINESS WIRE)--Dec. 15, 2000
Champions Sports, Inc. (OTC BB:CSBR), today reported net operating loss of $159,712 for the quarter ended October 31, 2000 compared to a net operating income of $20,551 for the quarter ended October 31, 1999.
For the quarter ended October 31, 2000 the net loss available to common stockholders was $175,650 or $0.02 per share compared to a net income of $4,613 or $0.00 per share for the quarter ended October 31,1999. The Company expanded approximately $85,000 during the quarter ended October 31, 2000 in its effort to diversify into high-technology and the formation of Champions Tech Ventures.
SELECTED FINANCIAL DATA ----------------------- Three Months Ended Six Months Ended Oct. 31 Oct. 31 2000 1999 2000 1999 ---- ---- ---- ---- Total Revenues $470,181 $488,111 $1,083,547 $1,127,385 Net Income (loss) from operations $(159,712) $20,551 $(118,525) $38,133 Loss on security held for sale - - $(50,000) - Less preferred stock dividends $15,938 $15,938 $31,876 $31,876 Net income (loss) available to common stockholders $(175,650) $4,613 $(200,401) $6,257 Basic earnings (loss) per share $(0.02) $0.00 $(0.02) $0.00 Earnings per common share assuming full dilution $(0.02) $0.00 $(0.02) $0.00
Champions Sports, Inc. is a licensee of CHAMPIONS Sports Bar Restaurants and an exclusive supplier of sports memorabilia and a consultant to all new managed Marriott and Renaissance Hotel Sports Bar/Restaurants worldwide. Starting in August 2000, the Company diversified into high-technology by expanding the management team to focus on business opportunities in that sector and by the subsequent formation of a wholly owned subsidiary, Champions Tech Ventures, to provide Management Capital to help early-stage technology companies increase the chances of becoming successful businesses.
This press release contains "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995) that inherently involve risks and uncertainties. All statements other than statements of historical information provided herein may be deemed to be forward-looking statements. The Company's actual results could differ materially form those anticipated in these forward-looking statements as a result of unforeseen external factors.
These factors may include, but are not limited to, changes in general economic conditions, customer acceptance of products or services offered and other general competitive factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis, judgment, belief or exception only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
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|Date:||Dec 15, 2000|
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