Brooke Franchise Corporation Announces Selected June Results
July 11 2006 - 10:22AM
PR Newswire (US)
OVERLAND PARK, Kan., July 11 /PRNewswire-FirstCall/ -- Shawn Lowry,
president of Brooke Franchise Corporation, a subsidiary of Brooke
Corporation (NASDAQ:BXXX), announced selected June 2006 results.
Lowry announced that Brooke Franchise Corporation assisted
franchisees in the start up and acquisition of businesses in June
in the states of California, Florida, Georgia, Kansas, Michigan,
Missouri, Nevada, North Carolina, Ohio, Oklahoma, Pennsylvania,
Texas and Virginia. Brooke Franchise Corporation added 21 start up
franchise locations and nine conversion franchise locations in
June, and received approximately $6,882,000 in fees, consisting of
$3,915,000 in initial franchise fees for basic services, $715,000
for initial fees from buyers assistance programs and $2,252,000 in
other associated fees. Additionally, Lowry announced Brooke
Franchise Corporation received profit-sharing commissions totaling
approximately $79,000 from insurance companies in June 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 2.6 percent for the 12 months ending June 30, 2006
and a corresponding median growth rate of negative 1.1 percent.
Same-store sales calculations exclude profit-sharing commissions.
Brooke Brokerage Corporation, which provides consulting services
unrelated to the franchise business, received approximately
$835,000 in non-franchise related consulting fees during June 2006.
About our company. . . Brooke Franchise Corporation is a subsidiary
of Brooke Corporation (NASDAQ:BXXX) that distributes insurance and
related services through a network of more than 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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