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NEWARK, Del., July 31 /PRNewswire-FirstCall/ --
Universal Capital Management, Inc. (OTC Bulletin Board : UCMT - News), a specialty finance company, which provides emerging growth companies with management and strategic resources for successful growth, reported its financial results for the year ended April 30, 2007.
Financial Highlights for the Year:
-- Revenue from management services for the year ended April 30, 2007 was
$3,236,636 vs. $894,745 for the year ending April 30, 2006, an increase
of approximately 262%.
-- Income from operations for the year ended April 30, 2007 was $989,883
vs. $(96,057) for the year ending April 30, 2006, an increase of over
1100%.
-- Total assets at April 30, 2007 were $6,353,346 vs. $3,546,337 at
April 30, 2006, an increase of approximately 79%.
-- Net assets at April 30, 2007 were $4,379,464 vs. $2,243,790 at
April 30, 2006, an increase of approximately 95%.
-- Net asset per share at April 30, 2007 was $.81 vs. $.46 at
April 30, 2006.
Mike Queen, the CEO of Universal Capital Management ("UCM") said, "Our financial results throughout our last fiscal year have been tremendous and speak for themselves. We have been able to almost double our value, which is very hard to do. We achieved this while also issuing a dividend to all our shareholders of record. However, I believe we have the real potential to even exceed these financials over the next several years. The quality and potential upside of our current portfolio companies, along with the planned additions, is what should make UCM a quality long term investment."
Queen added, "Due to the fact that UCM is a very tightly held company, we believe supply and demand play a key role in our stock price. Market awareness of our business plan, financial results and growth are a top priority for our management team in the upcoming year."
Universal Capital Management, Inc. is a publicly traded business development company under the Investment Act of 1940. Its purpose is to provide an opportunity for its shareholders to diversify risk by investing in a fund that assists its portfolio companies to grow and increase in value.
The entire financial report can be accessed at http://www.sec.gov.
Please visit the company's website for additional information at http://www.unicapman.com
Forward-Looking Statements
The information contained in this press release may contain "forward- looking statements." You can identify these statements by use of the words "may", "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," "believe," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to the following which could affect Universal Capital Management, Inc. or one or more portfolio companies: general economic and business conditions, effects of continued geopolitical unrest, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patters, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control. The Company assumes no obligation to update publicly or revise any forward-looking statements.
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