Brooke Franchise Corporation Announces Selected February Results
March 16 2006 - 9:24AM
PR Newswire (US)
OVERLAND PARK, Kan., March 16 /PRNewswire-FirstCall/ -- Shawn
Lowry, president of Brooke Franchise Corporation, a subsidiary of
Brooke Corporation (NASDAQ:BXXX), announced selected February 2006
results. Lowry announced that Brooke Franchise Corporation assisted
franchisees in the startup and acquisition of businesses in
February in the states of California, Colorado, Florida, Michigan,
Missouri and Texas. Brooke Franchise Corporation added six startup
franchise locations, one company developed location and one
conversion franchise location in February, and received
approximately $1,461,000 in fees, consisting of $935,000 in initial
franchise fees for basic services, $200,000 for initial fees from
buyers assistance programs and $326,000 in other associated fees.
Additionally, Lowry announced Brooke Franchise Corporation received
profit-sharing commissions totaling approximately $2,400,000 from
insurance companies in February 2006. The amount of profit-sharing
commissions is important to the company because profit-sharing
commissions, like initial franchise fees, significantly impact
Brooke Franchise Corporation's profitability. Lowry also announced
a decrease in same-store sales for all startup franchises and those
converted franchises in the system more than 24 months of
approximately 2.5 percent for the 12 months ending Feb. 28, 2006.
Same-store sales calculations exclude profit-sharing commissions.
Lowry also noted that Brooke Brokerage Corporation, which provides
consulting services unrelated to the franchise business, received
approximately $51,000 in non-franchise related consulting fees
during February 2006. About our company. . . Brooke Franchise
Corporation distributes insurance, financial and funeral services
through a network of more than 560 franchise locations. The Brooke
organization was founded on the belief that local business owners
distribute insurance and related services more efficiently than
others if supported by a franchise system. E-mail distribution. . .
To receive electronic press release alerts, visit the "Investor
Relations" section of the Brooke Corporation Web site at
http://www.brookecorp.com/ and subscribe to our "E-mail Alerts"
online. This press release contains forward-looking statements. 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 availability of funding sources, 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, the effectiveness of
internal controls, and risks and factors described from time to
time in reports and registration statements filed by Brooke
Corporation with the Securities and Exchange Commission. A more
complete description of Brooke's business is provided in Brooke
Corporation's most recent annual, quarterly and current reports,
which are available from Brooke Corporation without charge or at
http://www.sec.gov/ . DATASOURCE: Brooke Corporation CONTACT: Anita
Larson, of Brooke Corporation, , +1-913-661-0123 Web site:
http://www.brookecorp.com/
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