Dale Jarrett Racing Earns $.01 per Share in Record Third Quarter
HICKORY, N.C., Nov. 1, 2010 /PRNewswire-FirstCall/ -- Dale Jarrett Racing Adventure, Inc. (OTC Bulletin Board: DJRT), a "Full Throttle" lifetime experience company, today released results of its third quarter ending September 30th representing the best quarter in the company's 11 year history. This included net profits of $159,521 or $.01 per share compared to 2009's $64,805 loss for the same period. The report also highlights a 44% increase in total revenues of $955,380, while simultaneously reducing General and Administrative expenses by 10% for the quarter. Additionally, the company reports a net profit for the first 9 months of 2010 of $41,773. This is the first time the company has achieved year-to-date net profitability by the end of the 3rd quarter.
Commenting on the report, CEO Tim Shannon said, "Our commitment to being customer centric continues to define us within the industry. It's particularly gratifying when our high level of customer satisfaction translates into the kind of results we are announcing today. By already achieving net profitability for the year and with the 4th quarter historically being one of our best quarters, we're on track to finish 2010 with the highest net profit and earnings in the company's history. We are continuing to grow our core business while pursuing new opportunities for expansion and increased profitability. We're confident, with positive earnings now established and growing, shareholders will be rewarded as the market price for our shares begins to reflect our improved fundamentals."
Forward-Looking Statements
Certain of the statements contained in this press release contain forward-looking statements that involves risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Dale Jarrett Racing Adventure, Inc. has based these forward-looking statements on its current expectations and projections about future events, based on the information currently available to it. The forward-looking statements contained in this press release may also include statements relating to Dale Jarrett Racing Adventure's anticipated financial performance, business prospects, new developments, strategies and similar matters. Dale Jarrett Racing Adventure disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
Additional Information: Tim Shannon @ 1-888-467-2231 or RacingAdventure.com
SOURCE Dale Jarrett Racing Adventure, Inc.
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