Growth Company TS&B Holdings, Inc. Files 2nd Quarter 10Q Business Wire - February 11, 2005 09:15
ORLANDO, Fla., Feb 11, 2005 (BUSINESS WIRE) -- James V. Sadrianna, the Chief Financial Officer of TS&B Holdings, Inc. ("Company" or "TS&B") (OTCBB:TSBI), reported to management that the Company's 10-Q was transmitted for filing with the Securities & Exchange Commission on Friday, February 11, 2005 for the Company's 2nd quarter ending December 31, 2004. Mr. Sadrianna stated, "that the Form 10-Q shows a 13.6% increase in total assets compared to the prior quarter and 12.8% increase for the prior six months. The consolidated statement of operations, which includes TS&B Holdings, Inc.'s portfolio investments, showed an increase in revenues of 516% from the prior period ending December 31, 2003 with a 2.7% increase in net loss. The financial results for the first and second quarter of 2004 are attributable to the Company's election in February 2004 to become a Business Development Company governed by the '40 Act."
James J. Jenkins, CEO stated, "I'm very pleased by the Company's quarterly results. The company's portfolio investments had to overcome the business losses that occurred during the first quarter of 2004, when the State of Florida was hit with four hurricanes that devastated most of Central Florida, and distressed many businesses. The Company continues to execute its business plan as a BDC."
About TS&B Holdings Inc.
TS&B Holdings Inc. is a Business Development Company under the Investment Act of 1940 aggressively seeking opportunities in emerging and fast growth industries. http://www.tsbholdings.com
Safe Harbor
The statements made in this release constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report Filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.