Sitestar Reports Second Quarter 2012 Results
15 August 2012 - 6:04AM
Marketwired
Sitestar Corporation (OTCBB: SYTE), a holding company for
technology related businesses, announced financial results for its
second quarter ended June 30, 2012. Financial highlights for the
year include:
- Total Revenue was $2,108,274, an increase of $105,914 or 5.3%
from $2,002,360 for the same period in 2011.
- Income before income taxes was $423,596, an increase of
$112,439 from $311,157 for the same period in 2011.
- EBITDA was $448,101, a decrease of $98,464 or 18.0% from
$546,565 for the same period in 2011.
- Investments in real estate increased $198,488 or 8.1% to
$2,663,182 from $2,464,694 on December 31, 2011.
"Both of our divisions, Internet and Real Estate, are making a
positive effect on our bottom line," said Frank R. Erhartic, Jr.,
CEO for Sitestar. "Much of our amortization from purchasing other
businesses is now expiring and resulting in lower operating costs.
The Real Estate division is growing and may soon out-perform our
Internet division. We believe there is no better time to invest in
real estate than now."
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements that are
based on management's expectations, estimates, projections and
assumptions. The Company assumes no obligation except as required
by law to update the forward-looking statements contained in this
press release as a result of new information or future events or
developments. These forward-looking statements generally can be
identified by words such as "believes," "expects," "projects,"
"anticipates," "foresees," "forecasts," "estimates," "should" or
other words or phrases of similar import. Forward-looking
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995, as amended. These
statements are not guarantees of future performance and involve
certain risks and uncertainties, which are difficult to predict.
Therefore, actual future results and trends may differ materially
from what is forecast in forward-looking statements due to a
variety of factors, including and without limitation, as found in
the Company's reports filed with the Securities and Exchange
Commission.
About Sitestar Sitestar is a real estate
investment company and a holding company for technology related
businesses, including Internet Service Providers (ISPs) and
computer sales and services. The company offers consumer and
business-grade Internet access, web hosting and computer related
services. Headquartered in Lynchburg, Virginia, Sitestar maintains
multiple sites of operation and provides services to customers
throughout the U.S. and Canada. For more information, visit
www.sitestar.com.
Contact: Frank R. Erhartic, Jr. 434-239-4272 Email
Contact
Enterprise Diversified (QB) (USOTC:SYTE)
Historical Stock Chart
From Jul 2024 to Jul 2024
Enterprise Diversified (QB) (USOTC:SYTE)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Enterprise Diversified Inc (QB) (OTCMarkets): 0 recent articles
More Sitestar Corporation News Articles