Champions Sports, Inc. Reports Results for Fiscal Year.ARLINGTON Arlington, county, United States Arlington, county (1990 pop. 170,936), N Va., across the Potomac River from Washington, D.C. Arlington is a residential and commercial suburb of Washington. , Va.--(BUSINESS WIRE)--July 30, 1999-- Champions Sports, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Symbol:CSBR CSBR Center for Sustainable Building Research ), licensee licensee n. a person given a license by government or under private agreement. (See: license, licensor) LICENSEE. One to whom a license has been given. 1 M. Q. & S. 699 n. of CHAMPIONS Sports Bar Restaurants, today reported a net income from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of $16,397 for the fiscal year ended April 30, 1999 compared to a net income from continuing operations of $71,481 for the previous year. This was the fifth consecutive year that the Company reported net income from its continuing operations. For the fiscal year ended April 30, 1999, the net loss available to common stockholders was $50,893 or $0.00 per common share compared to a net income available to common stockholders of $286,892 or $0.03 per common share for the previous year, which included an extraordinary gain of $290,641 resulting from the sale of CHAMPIONS name and service mark to Marriott International Marriott International, Inc. (NYSE: MAR) is a worldwide operator and franchisor of a range of value and luxury hotels and related lodging facilities. Marriott currently has 2,300 accommodation properties in North America alone. , Inc. -0-
SELECTED FINANCIAL DATA
-----------------------
Years Ended April 30
1999 1998
---- ----
Total Revenues $2,197,667 $2,327,778
Net Income from continuing
operations $16,397 $71,481
Gain on sale of name & service mark - $290,641
Net Income $16,397 $362,122
Less preferred stock dividends $67,290 $67,290
Net Income (loss) available to
common stockholders ($50,893) $286,892
Basic Earning (loss)per share ($0.00) $0.03
Earnings (loss) per common share
assuming dilution ($0.00) $0.03
Champions Sports, Inc. is a licensee of CHAMPIONS Sports Bar Restaurants and an exclusive supplier of sports memorabilia The term sports memorabilia usually refers to anything that can be directly connected to a sports event or personality. These items are generally gathered by fans of the particular sport, athlete or team that the item signifies or by collectors who find value in the rarity and a consultant to all new managed Marriott and Renaissance Hotel Sports Bar/Restaurants worldwide. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion