Pinnacle Business Management Announces Preliminary June Sales Figures
CLEARWATER, Fla. & PITTSBURGH--July 24, 2001--Pinnacle Business Management (Pink Sheets:PCBM) has announced the preliminary and un-audited June financials for its McMurray, Pa.-based All Pro division.
During the month of June 2001, the All Pro division saw total combined sales in excess of $800,000. However, several start-up charges meant the company booked significant increases in expenses, resulting in pre-tax profits of approximately $53,000.
The added expenditures were related to All Pro's implementation of an automobile financing program with Universal Underwriters' Acceptance Corp., and the launch of All Pro Communications' programs with Cricket Communications' comfortable wireless service. Also during the month, All Pro incurred expenses for launching its service with a major national wireless service carrier.
Despite the additional charges, All Pro recorded its sixth-consecutive profitable month since it became part of PCBM. These figures encompass each of the All Pro business units operating in McMurray, including All Pro Daewoo, the All Pro Auto Mall and All Pro Communications (both wireless and wired systems units).
"We launched three major new programs during the month of June that we expect to generate many sales during the coming months and years," said Vince Lo Castro, COO of PCBM. "These relationships clearly show that we are growing all aspects of the All Pro companies and we expect that trend to accelerate."
His comments were echoed by PCBM CEO Jeff Turino: "We had three profitable months in the second quarter, giving us six profitable months in a row. The staff at All Pro has managed to launch three major new programs in the automobile and wireless operations of All Pro without having to increase our authorized shares during the second quarter or using stock as currency. Clearly, All Pro is leading PCBM forward."
At the same time that the All Pro figures for June were announced, PCBM announced that it is in the process of identifying all of its shareholders, both domestically and internationally.
"We believe we have identified approximately 15,000 shareholders in the U.S. and would like to identify remaining shareholders outside the U.S.," said Turino. "Their cooperation would be greatly appreciated. Shareholders in Canada and overseas who have not already identified themselves are encouraged to mail their most recent account summary page identifying their PCBM position to 3644 Washington Rd., McMurray, Pa. 15317, or fax it to 724/514-1414."
On July 28, the All Pro is scheduled to host the Third Annual All Pro Auto Mall Car Cruise. Hosted by the Sultans Car Club, this event draws hundreds of members of the surrounding community, as well as radio broadcasters to the All Pro facilities to explore and enjoy classic cars and memorabilia.