BGI Announces 157% Increase in Net Income for the Quarter Ended June 30, 2005
25 August 2005 - 8:55AM
Business Wire
BGI, Inc. (Pink Sheets:BGII) today released unaudited June 30, 2005
and 2004 financial results. Revenue increased 133% to $1,261,695
for the quarter ended June 30, 2005 as compared to $540,428 for the
quarter ended June 30, 2004. The company recorded Net Income of
$345,051 for the quarter ended June 30, 2005 as compared to a Net
Income of $134,393 for the quarter ended June 30, 2004. Earnings
per share were $0.03 for the quarter ended June 30, 2005 as
compared to $0.01 for the quarter ended June 30, 2004. For the six
months ended June 30, 2005 revenue was $2,342,732, a 149% increase
over the six months ended June 30 2004. Net income was $499,050, a
187% increase over the six months ended June 30, 2004. Earnings per
share doubled to $0.04 for the six months ended June 30, 2005. Bill
Schwartz, President and CEO, commented, "We had a very good second
quarter and hope to continue building on that success for the
remainder of the year." He continued, "The accountants are putting
the finishing touches on the complete financial statements and we
anticipate having them posted on www.pinksheets.com in about a
week." Statements that BGI may publish, including those in this
announcement that are not strictly historical, are
"forward-looking" statements made under the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are inherently unreliable and actual
results may vary. Factors which could cause actual results to
differ from these forward-looking statements include but are not
limited to changes in the competitive marketplace, changes in the
regulatory environment and economic conditions. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. About BGI, Inc. BGI, Inc.
(http://www.bgicorp.com) is a gaming company that designs,
distributes and markets sweepstakes-driven gaming products. The
Company's primary products -- the Charity Station sweepstakes
machine and the Lucky Strike Phone card machine -- use a
sweepstakes game as an incentive to help non-profit organizations
raise funds and sell phone cards, respectively. BGI, Inc. was
founded in 1994 and has offices in Austin, Texas. The Company
currently trades on the OTC Pink Sheets under the symbol BGII.
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