WILMINGTON, Del., Aug. 4 /PRNewswire-FirstCall/ -- Universal Capital Management, Inc. (OTC Bulletin Board: UCMT.OB - 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, 2008.
Financial Highlights for the Year:
-- Revenue from management services for the year ended April 30, 2008 was
$3,845,715 vs. $3,294,637 for the year ending April 30, 2007, an
increase of approximately 17%.
-- Income from operations for the year ended April 30, 2008 was $2,681,514
vs. $1,047,883 for the year ending April 30, 2007, an increase of over
156%. Our revenue and income is derived from the receipt of
unregistered shares of stock and warrants from our portfolio companies.
-- Total assets at April 30, 2008 were $8,265,499 vs. $6,736,345 at April
30, 2007, an increase of approximately 23%.
-- Net assets at April 30, 2008 were $5,599,232 vs. $4,097,464 at April
30, 2007, an increase of approximately 37%.
-- Net asset per share at April 30, 2008 was $.98 vs. $.75 at April 30,
2007 an increase of over 30%.
According to Mike Queen, CEO of Universal Capital Management ("UCM), "We believe the financial results for our past two fiscal years just verify that our company is a proven model of success. Like our portfolio companies, we continue to develop. Therefore, we foresee even greater potential in these financials over the next several years. With the progressive nature of our current portfolio and the quality and potential of our planned additions, we believe UCM remains a valuable long term investment."
Pursuant to its business plan as a Business Development Company, Universal intends to dividend shares of its portfolio companies to Universal shareholders upon the effectiveness of the S-1 registration statements that the companies expect to file with the Securities and Exchange Commission to enter the public marketplace. This dividend policy increases UCM's value which results in potential multiple earnings power for UCM's shareholders.
About Universal Capital Management, Inc.
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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