Kenwick's Automax Division Reports Pre-tax Earnings of $.50 Per Share!
Kenwick's Automax Division Reports Pre-tax Earnings of $.50 Per
Share for 1998;
Automax' Earnings Exceed Company Estimates
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FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Feb. 23, 1999--Kenwick
(OTC BB:KWIN) today reported 1998 revenues for their Automax
(includes Automax Finance Unit).
Kenwick's Automax Division's consolidated income (unaudited) for
the year ending
December 31, 1998.
- Cost of Sales: $2,294,730
- Gross Profit: $2,214,573
- Operating Expenses: $379,818
- Net Earnings Before Taxes: $1,834,755
- Pre-tax Earnings Per Share on 3,650,000 weighted shares: $.50
increase over the Company's estimates released last year.
Kenwick's Automax Automobile sales and finance units are the
divisions of Kenwick Industries. Kenwick is actively seeking to
locations for their Automax Division.
About Kenwick Industries
Kenwick Industries is a multi-industry corporation whose core
automobile sales and financing.
Kenwick also manages a language program distribution system which
Philips Electronics N.V.
(NYSE: PHG) language programs.
This press release contains forward-looking statements with
respect to the
results of operations, expectations and business of the Company
risk and uncertainties. The Company's actual future results could
materially differ from those discussed. Risks and uncertainties
Company will be detailed from time to time in the Company's
to be filed with the Securities and Exchange Commission.
Kenwick Industries, Inc., Fort Lauderdale
Ken Wulwick, 800/822-4122
BW1666 FEB 23,1999