Champions Sports Inc. Quarterly Report.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)--Dec. 15, 1998--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, Tuesday Tuesday: see week. reported a net loss of $89,543 for the quarter ended Oct. 31, 1998 compared to a net income of $271,781 for the quarter ended Oct. 31, 1997, which included an extraordinary gain of $290,641 resulting from the sale of the CHAMPIONS brand 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. For the quarter ended Oct. 31, 1998 the loss per common share was $0.01 compared to earnings of $0.03 per common share for the quarter ended Oct. 31, 1997. For the six months ended Oct. 31, 1998 net loss was $66,776 or $0.01 per common share compared to an income of $312,683 or $0.03 per common share. Revenues were $428,335 for the quarter ended Oct. 31, 1998 compared to $510,873 for the quarter ended Oct. 31, 1997. -0-
SELECTED FINANCIAL DATA
-----------------------
Three Months Ended Six Months Ended
Oct. 31 Oct. 31
1998 1997 1998 1997
---- ---- ---- ----
Total
Revenues $428,335 $510,873 $983,777 $1,092,010
Net
Income
(loss) from
continuing
operations ($89,543) ($18,860) ($66,776) $22,042
Extraordinary
Gain - $290,641 - $290,641
Net Income
(loss) ($89,543) $271,781 ($66,776) $312,683
Basic
Earnings
(loss) per
share ($0.01) $0.03 ($0.01) $0.04
Earnings
(loss) per
common share
fully diluted ($0.01) $0.03 ($0.01) $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. |
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