Legends Business Group, Inc. Projects $1.5 Million in Third Quarter
October 20 2008 - 8:45AM
Marketwired
Legends Business Group, Inc. (OTCBB: LGBS) announced today that its
projected financial results for the third quarter of 2008, which
ended September 30, 2008, have exceeded expectations as a result of
the improved performance in all of its client companies. Based on a
revised analysis of current revenues, Legends Business Group
expects third quarter gross revenues to exceed original estimates
in excess of $600,000 (six hundred thousand dollars). Gross revenue
increases are inclusive of consulting, brokerage and agent fees.
These changes in gross revenue are reflective of an increase in
gross client revenues of approximately $1.5 million ($1,500,000)
for the quarter. This equates to a projected net profit of
approximately 20% (twenty percent) or $300,000 (three hundred
thousand dollars) for LGBS, in the third the quarter.
Larry Powalisz, Legends president and chief executive officer,
commented, "I'm very pleased to announce that we are having an
exceptionally good quarter, exceeding our revenue guidance and
earnings expectations. The revenues booked thus far in 2008 are
indicative of the aggressive marketing strategies put in place
during our development stages. The nature and practices of our
business dictate a three to six month transitional period before
revenues are realized. Once realized, revenues accrue on a monthly
reoccurring basis and grow as campaigns and clients are
developed."
"This is only the beginning of our growth. We continue to pursue
a number of other large proposals from many of our existing and
potential new clients with several campaigns poised to mature in
the fourth quarter and throughout next year. We fully expect to
gain further momentum as we progress forward. We anticipate that
the rapid increase in revenues and growth will have a very positive
impact on our margins. Our focus on customer support services and
professional relationships will continue to further enhance the
current and future needs of our clients," added Powalisz.
About Legends Business Group, Inc.:
Legends Business Group, Inc. is an Over the Counter Bulletin
Board stock which trades under the symbol LGBS. To obtain
additional information about Legends Business Group, Inc., please
visit the Company's website, which may be found at:
www.lbgi.net.
This press release contains statements that are
"forward-looking," and involve a number of risks and uncertainties.
Statements that are not historical facts are considered
forward-looking statements, and are subject to Safe Harbor
provisions as defined in the United States Private Securities
Litigation Reform Act of 1995 Company results and performance may
be materially different from future results, strategies, plans or
goals expressed or implied by any forward-looking statements made
herein. The Company disclaims any obligation to update or revise
any forward-looking statements.
Contact: Legends Business Group, Inc. Larry Powalisz
407-263-4029 inquiries@lbgi.net
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