Brooke Franchise Corporation Announces Selected April Results
May 16 2006 - 10:26AM
PR Newswire (US)
OVERLAND PARK, Kan., May 16 /PRNewswire-FirstCall/ -- Shawn Lowry,
president of Brooke Franchise Corporation, a subsidiary of Brooke
Corporation (NASDAQ:BXXX), announced selected April 2006 results.
Lowry announced that Brooke Franchise Corporation assisted
franchisees in the start up and acquisition of businesses in April
in the states of California, Colorado, Florida, Georgia, Illinois,
Michigan, North Carolina, Ohio, Pennsylvania, Texas and Washington.
Brooke Franchise Corporation added 15 start up franchise locations
and three conversion franchise locations in April, and received
approximately $3,673,000 in fees, consisting of $2,420,000 in
initial franchise fees for basic services, $251,000 for initial
fees from buyers assistance programs and $1,002,000 in other
associated fees. Additionally, Lowry announced Brooke Franchise
Corporation received profit-sharing commissions totaling
approximately $300,232 from insurance companies in April 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 noted Brooke Franchise typically receives a majority of its
profit-sharing commissions during the first quarter of its fiscal
year. Lowry also announced a decrease in combined same-store sales
for seasoned converted franchises and start up franchises of
approximately 2.9 percent for the 12 months ending April 30, 2006
and a corresponding median growth rate of negative 2.3 percent.
Same-store sales calculations exclude profit-sharing commissions.
Brooke Brokerage Corporation, which provides consulting services
unrelated to the franchise business, received approximately $39,000
in non-franchise related consulting fees during April 2006. About
our company ... Brooke Franchise Corporation distributes insurance
and related services through a network of approximately 600
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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