Chancellor Reports Over 200% Growth in Revenue and Earnings Through First Nine Months of 1999; Posts $.02 Per Share Net Income.BOSTON--(BUSINESS WIRE)--Nov. 15, 1999-- Chancellor chancellor In western Europe, the title of holders of numerous offices of varying importance, ultimately political in nature. The prime ministers of Germany and Austria are called chancellors. Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CHLR) announced today its results for the third quarter of fiscal 1999. For the three months ended September September: see month. 30, 1999, the Company posted near record third quarter revenues of $17,856,000, a5,000, as adjusted, for the same period of last year, an increase of approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $253,000, or 95.4%. The Ct to exceed its goal of $60 million in total revenues for 1999. Commenting on the third quarter and nine-month ending results, Brian The name Brian (sometimes spelled Bryan) comes from an Irish backround. It is of Celtic origin and its meaning may be "hill" or "strong, noble, and high"[1]. M. Adley, chairman 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. of Chancellor Corporation, stated: "The Company continues to exceed its internal objectives for fiscal 1999. We are satisfied with the results of operations through the nine months ended September 30, 1999, however, we are keenly aware that there is more work to be done. The Company is on target to post its second consecutive profitable fiscal year and post record annual revenues for 1999. With the opening of our Dcceptance of our "Total Holding Cost" approach (in thousands, except per share amounts) d) (unaudited) Revenues 17,856 12,569 Pre PRE Preformatted Text (HTML) PRE Physical Review E (American Physical Society journal of statistical, linear, & soft-matter physics) PRE Pura Raza Española (Spanish: pure Spanish breed) Tax Income 649 265 Net Income 518 265 Basic EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. 0.01 0.01 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. EPS 0.01 -- Weighted Average Shares Outstanding Basic 53,530 38,472 Diluted 58,566 54,472 Nine Months Ending September 30, 1999 1998 (unaudited) (unaudited) Income Statement Data Revenues 47,081 14,981 Pre Tax Income 1,381 325 Net Income 1,194 325 Basic EPS 0.02 0.01 Diluted EPS 0.02 0.01 Weighted Average Shares Outstanding Basic 48,381 35,883 Diluted 58,417 51,883 September 30, December December: see month. 31, 1999 1998 (unaudited) Balance Sheet Data Total Assets 44,138 29,569 Stockholder's Equity Stockholder's equity The residual claims that stockholders have against a firm's assets, calculated by subtracting all current liabilities and debt liabilities from total assets. 14,599 7,007
Chancellor Corporation is spearheading an evolution in
transportation equipment finance through innovative financing and
fleet management programs. The Company seeks to reduce a customer's
total holding cost through its "Wholesale-Plus" lease pricing strategy
and through other value-added services, including asset management,
equipment maintenance, fuel management and data management strategies.
Since its founding in 1977, Chancellor has completed a total of
approximately $1.5 billion in equipment lease transactions for its
Fortune 500 and middle market customers in the U.S. and select
international markets. Chancellor is a transportation equipment
finance and fleet management solutions provider headquartered in
Boston. The Company's Internet address is
http://www.chancellorcorp.com. The Company is publicly traded under
the symbol "CHLR".
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995:
The statements contained in this release which are not historical
facts may be deemed to contain forward-looking statements with respect
to events, the occurrence of which involve risks and uncertainties,
including, without limitation, demand and competition for the
Company's lease financing services and the products to be leased by
the Company, the continued availability to the Company of adequate
financing the ability of the Company to recover its investment in
equipment through remarketing, and other risks and uncertainties
detailed in the Company's Securities and Exchange Commission filings.
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