RMS Titanic, Inc. Provides Earnings Guidance
April 20 2004 - 2:46PM
PR Newswire (US)
RMS Titanic, Inc. Provides Earnings Guidance ATLANTA, April 20
/PRNewswire-FirstCall/ -- RMS Titanic, Inc. (BULLETIN BOARD: SOST)
has today provided earnings guidance as it rolls out its worldwide
Titanic Exhibition Tour. The Company projects revenue growth for
the Fiscal Year ending February 28, 2005 as a consequence of an
increase in the number of Titanic exhibitions over the prior year,
as well as an increase in the Company's participation in the
revenues from such exhibitions. Management currently expects that
revenue for Fiscal Year 2005 will be between $8.5 million and $9.0
million and that aggregate net earnings will be between $2.0
million and $2.8 million, or $0.10 - $0.14 per share. According to
Arnie Geller, President of RMS Titanic, Inc., "The Company is now
poised for success, having regained control over five touring
Titanic exhibitions and put in place a management team of
experienced professionals. We are pleased with the Company's
present position and the projected revenue growth and return to
profitability that we expect for our Fiscal Year ending February
28, 2005." The Company's estimates reflect full ownership of the
Titanic Exhibition Tour beginning in June 2004 and the expected
revenue and profit contributions for these exhibits through the end
of the Fiscal Year ending February 2005. RMS Titanic, Inc. is the
only company permitted by law to recover objects from the wreck of
the Titanic. The Company was granted salvor-in-possession rights to
the wreck of the Titanic by a United States federal court in 1994
and has conducted six research and recovery expeditions to the
Titanic wreck site resulting in the recovery of approximately 6,000
artifacts. The Company is developing new museum-quality exhibitions
designed to enable it to leverage its existing venue relationships
and exhibition expertise. Certain of the above statements contained
in this press release are forward-looking statements that involve a
number of risks and uncertainties. Such forward-looking statements
are within the meaning of that term in Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The Company has based
these forward-looking statements on its current expectations and
projections about future events, based on the information currently
available to it. The forward-looking statements include statements
relating to the Company's anticipated financial performance,
business prospects, new developments, new strategies and similar
matters. The following important factors, in addition to those
described in the Company's filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for the year
ended February 28, 2003, especially in the Risk Factors and the
Management's Discussion and Analysis sections, and its Quarterly
Reports on Form 10-Q and its Current Reports on Form 8-K (each of
which is available upon request from the Company), may affect the
future results of the Company and cause those results to differ
materially from those expressed in the forward-looking statements:
material adverse changes in the economic conditions in the
Company's markets, including as a result of terrorist attacks,
competition from others, how much capital the Company may or may
not receive from required financings, and whether or not, and to
what extent, the Company consummates its planned leases to place
the exhibits. We disclaim any obligation to update these
forward-looking statements. For additional Information: Company:
Gerald Couture, CFO, 404-842-2600 Investor Relations: Investor
Awareness Inc: Tony Schor, 847-945-2222 Media Relations: North
Coast Advisors Inc.: Dan Luther, 585-218-7372 DATASOURCE: RMS
Titanic, Inc. CONTACT: Gerald Couture, CFO, RMS Titanic,
+1-404-842-2600, or ; or Investor Relations, Tony Schor, Investor
Awareness Inc, +1-847-945-2222, or ; or Media Relations, Dan
Luther, North Coast Advisors Inc., +1-585-218-7372, or , both for
RMS Titanic Web site: http://www.titanic-online.com/
Copyright