Atlanta, Jan. 09, 2023 (GLOBE NEWSWIRE) -- UC Asset LP (OTCQB: UCASU) management announces that the company aims to achieve over $1 million gross profit from its operation in the year of 2023, representing a 100% growth from its highest gross profit in previous years.
UC Asset had been operationally profitable in previous years, and it had managed to maintain steady growth of gross profit. According to its filings, the company reported gross profit of about $491,000 for the fiscal year of 2021, about $103,000 gross profit for the fiscal year of 2020, and about $42,000 gross profit for the fiscal year of 2019.
Later last year, UC Asset projected to close two deals which would have generated about $600,000 - $800,000 gross profits. UC Asset expects to close these two deals in the first half of 2023.
"With these two deals that we are very confident to close soon, and with a solid pipeline of deals we are developing and possibly closing in the second half of 2023, we are optimistic that our gross profit may break $1 million mark, for the first time of our operating history," says Greg Bankston, managing partner of UC Asset. "This will be exciting, given that our annual gross profit has never reached half million in the previous years."
Bankston cautions that the company may not be able to realize these goals, and even if it does, it may not report similar net income growth due to non-operating costs, including fees to be paid to its management team.
However, Bankston hints that the company has a plan to cut back the management team's payment considerably for the year of 2023, and thus may increase the margin of net income.
Bankston also indicates that the company may distribute more dividend to its shareholders, if it reports higher net income.
Last year, the company completed distribution to its shareholders a cash dividend of $0.10 per share.
About UC Asset LP
UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies. For more information about UC Asset, please visit:
Disclaimer:
This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.
For More Information Contact: IR@UCasset.com
亚特兰大,2023年1月9日(环球通讯社)-UC Asset LP(OTCQB:UCASU)管理层宣布,公司的目标是在2023年通过运营实现超过100万美元的毛利润,比前几年的最高毛利润增长100%。
UC Asset在前几年实现了运营盈利,并设法保持了毛利润的稳定增长。根据其提交的文件,该公司报告的2021财年毛利润约为49.1万美元,2020财年毛利润约为10.3万美元,2019财年毛利润约为4.2万美元。
去年晚些时候,UC Asset预计将完成两笔交易,这两笔交易将带来约60万至80万美元的毛利润。UC Asset预计将在2023年上半年完成这两笔交易。
UC Asset的管理合伙人格雷格·班克斯顿表示:“有了这两笔我们有信心很快完成的交易,加上我们正在开发并可能在2023年下半年完成的一系列交易,我们乐观地认为,我们的毛利润可能会突破100万美元大关,这将是我们运营历史上的第一次。”“鉴于我们前几年的年度毛利从未达到50万,这将是令人兴奋的。”
班克斯顿警告说,该公司可能无法实现这些目标,即使实现了,也可能不会报告类似的净收入增长,因为非运营成本,包括支付给管理团队的费用。
然而,班克斯顿暗示,该公司计划在2023年大幅削减管理团队的薪酬,从而可能提高净收入利润率。
班克斯顿还表示,如果公司公布更高的净利润,可能会向股东分配更多股息。
去年,该公司完成了向股东分配每股0.10美元的现金股息。
关于UC Asset LP
UC Asset LP是一家有限合伙企业,旨在以创新策略投资房地产。有关UC Asset的更多信息,请访问:
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