Brooke (AMEX:BXX)
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Brooke Corporation's Annual Earnings Increase 61%
OVERLAND PARK, Kan., March 8 /PRNewswire-FirstCall/ -- Brooke Corporation
(AMEX:BXX) - Robert D. Orr, Chairman and CEO of Brooke Corporation, announced
that 2004 earnings totaled $6,694,000, or $.65 per diluted share, on 2004
revenues of more than $101,000,000. Annual earnings increased approximately 61
percent from 2003 earnings of $4,160,000, or $.41 per diluted share, and annual
revenues increased approximately 53 percent from 2003 revenues of approximately
$66,000,000.
Orr also announced a 49% increase in quarterly earnings to $1,478,000, or $.14
per diluted share, in the fourth quarter of 2004 compared to $992,000, or $.10
per diluted share, in the fourth quarter of 2003. Quarterly revenues increased
74% to $29,856,000 in the fourth quarter of 2004 from $17,198,000 in the fourth
quarter of 2003.
In making the announcement, Mr. Orr stated, "In 2004, one of our primary
initiatives was 'Leveling the Playing Field' for Brooke franchisees so that
they can better compete and be more successful. Because we succeed when our
franchisees succeed, the increase in annual earnings indicates that this
initiative has helped our franchisees."
About our company ... Brooke Corporation is a holding company with three
primary subsidiaries. Brooke Franchise Corporation is a subsidiary that
distributes insurance and related services through a network of approximately
375 franchise locations as of January 31, 2005. Brooke Credit Corporation is a
subsidiary that originates loans to insurance agencies, financial services
practices, funeral homes and other local businesses, including Brooke
franchises. Loan portfolio balances totaled approximately $185,000,000 on
January 31, 2005. Brooke Brokerage Corporation is a subsidiary that sells
insurance on a wholesale basis primarily through locally owned insurance
agencies, including Brooke franchises. Through Bermuda based subsidiaries,
underwriting risks are shared with insurance companies on selected policies.
Contact ... Anita Larson, Brooke Corporation, or 913-661-0123
Email Distribution .... If you would like to receive electronic press release
information then please visit the "Investor Relations" section of our website
at http://www.brookecorp.com/ and subscribe to our "Email Alerts" on-line.
This press release may contain forward-looking statements. Investors are
cautioned that all forward-looking statements involve risks and uncertainties,
and several factors could cause actual results to differ materially from those
in the forward-looking statements. The following factors, among others, could
cause actual results to differ from those indicated in the forward-looking
statements: the uncertainty that the Company will achieve its short-term and
long-term profitability and growth goals, uncertainties associated with market
acceptance of and demand for the Company's products and services, the impact of
competitive products and pricing, the dependence on third party suppliers and
their pricing, its ability to meet product demand, the exposure to market
risks, uncertainties associated with the development of technology, changes in
the law and in economic, political and regulatory environments, changes in
management, the dependence on intellectual property rights, and the
effectiveness of internal controls. Investors are directed to the Company's
most recent annual and quarterly reports, which are available from the Company
without charge or at http://www.sec.gov/ , for a more complete description of
the Company's business.
DATASOURCE: Brooke Corporation
CONTACT: Anita Larson of Brooke Corporation, +1-913-661-0123,
Web site: http://www.brookecorp.com/