Brooke Franchise Corporation Announces Selected October Results
November 13 2006 - 11:23AM
PR Newswire (US)
OVERLAND PARK, Kan., Nov. 13 /PRNewswire-FirstCall/ -- Shawn Lowry,
president and chief executive officer of Brooke Franchise
Corporation, a subsidiary of Brooke Corporation (NASDAQ:BXXX),
announced selected October 2006 results. Lowry announced that
Brooke Franchise Corporation assisted franchisees in the start up
and acquisition of businesses in October in the states of Arizona,
California, Georgia, Illinois, Missouri, North Carolina, Ohio,
Tennessee, Texas and Virginia. Brooke Franchise Corporation added
20 start up franchise locations, 12 conversion franchise locations
and two developed franchise locations in October, and received
approximately $5,203,000 in fees, consisting of $5,085,000 in
initial franchise fees for basic services and $118,000 in other
associated fees. Additionally, Lowry announced Brooke Franchise
Corporation received profit-sharing commissions totaling
approximately $151,000 from insurance companies in October 2006.
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 2.4 percent for the 12 months ending Oct. 31, 2006,
and a corresponding median growth rate of negative 1.7 percent.
Same-store sales calculations exclude profit-sharing commissions.
Brooke Brokerage Corporation, which provides consulting services
unrelated to the franchise business, received approximately $91,000
in non-franchise related consulting fees during October 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 700 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 alerts, visit
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http://brookecorp.mediaroom.com/ and subscribe to our e-mail alerts
online through the Get the News link. 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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