Trans World Corporation Announces 3rd Quarter 2006 Results.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Trans World Corporation Trans World Corporation was the original name of the holding company set up to own Trans World Airlines. When the airline sought to diversify into other areas of business, a key investment was Hilton International Hotels ("TWC TWC The Weather Channel TWC Time-Warner Cable TWC Texas Workforce Commission (also seen as TWFC) TWC The Wellness Community TWC The Washington Center TWC Teachers & Writers Collaborative TWC Trustworthy Computing " or the "Company") (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : TWOC TWOC Trial Without Catheter TWOC Taken Without Owner's Consent (UK theft) TWOC Training Wing Operations Center .OB), the owner and operator of casinos in Europe, today announces a net income for the quarter ended September 30, 2006 of $513,000, or $0.07 per share. This result represents a 244% increase over the same quarter in 2005 of $149,000, or $0.04 per share. Year to date net income as of September 30, 2006 is $817,000, or $0.10 per share, versus a loss of $532,000, or ($0.11) per share in 2005. The per share calculation is based on fully diluted shares of 7,846,393 for the period ended September 30, 2006 compared with 5,031,681 for the same period in 2005. The above improvements were largely due to two factors: the implementation of the slot machine replacement program, which is part of the Company's 2006 Capital Plan, and the continued success of Route 55, the Company's newest casino near Dolni Dvoriste in the Czech Republic, where attendance has almost doubled versus the same period in 2005. In mid-November 2006, the Company is expecting to complete an extensive expansion and renovation project of the Route 59 casino, 45 minutes north of Vienna, Austria. The improved casino will feature a larger gaming floor, new and additional slot machines, and an elaborate entertainment area. This event, in combination with the recent execution of a management agreement for the operation of a luxury casino and nightclub in Croatia, are expected to enhance the Company's revenues and profitability. The casino and nightclub, located at the Le Meridien Lav Split resort on the Adriatic Coast of Croatia, will celebrate its grand opening in December 2006, in conjunction with the resort's opening. Additional information about TWC and its Czech subsidiary, American Chance Casinos, can be found at www.transwc.com or at www.american-chance-casinos.com. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements contained in this release which are not historical facts contain forward looking information with respect to plans, projections or the future performance of the Company, the occurrence of which involve certain risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. [TABLE OMITTED] [TABLE OMITTED] |
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