Atlanta, Jan. 09, 2023 (GLOBE NEWSWIRE) -- UC Asset LP (OTCQB: UCASU) management announces that the company aims to achieve over $1 million gross profit from its operation in the year of 2023, representing a 100% growth from its highest gross profit in previous years.
UC Asset had been operationally profitable in previous years, and it had managed to maintain steady growth of gross profit. According to its filings, the company reported gross profit of about $491,000 for the fiscal year of 2021, about $103,000 gross profit for the fiscal year of 2020, and about $42,000 gross profit for the fiscal year of 2019.
Later last year, UC Asset projected to close two deals which would have generated about $600,000 - $800,000 gross profits. UC Asset expects to close these two deals in the first half of 2023.
"With these two deals that we are very confident to close soon, and with a solid pipeline of deals we are developing and possibly closing in the second half of 2023, we are optimistic that our gross profit may break $1 million mark, for the first time of our operating history," says Greg Bankston, managing partner of UC Asset. "This will be exciting, given that our annual gross profit has never reached half million in the previous years."
Bankston cautions that the company may not be able to realize these goals, and even if it does, it may not report similar net income growth due to non-operating costs, including fees to be paid to its management team.
However, Bankston hints that the company has a plan to cut back the management team's payment considerably for the year of 2023, and thus may increase the margin of net income.
Bankston also indicates that the company may distribute more dividend to its shareholders, if it reports higher net income.
Last year, the company completed distribution to its shareholders a cash dividend of $0.10 per share.
About UC Asset LP
UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies. For more information about UC Asset, please visit:
Disclaimer:
This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.
For More Information Contact: IR@UCasset.com
Atlanta, Jan. 09, 2023 (GLOBE NEWSWIRE) -- UC Asset LP (OTCQB: UCASU) management announces that the company aims to achieve over $1 million gross profit from its operation in the year of 2023, representing a 100% growth from its highest gross profit in previous years.
亚特兰大，2023年1月9日（GLOBE NEWSWIRE）——加州大学资产有限责任公司（OTCQB：UCASU）管理层宣布，该公司的目标是在2023年实现超过100万美元的运营毛利，比前几年的最高毛利增长100％。
UC Asset had been operationally profitable in previous years, and it had managed to maintain steady growth of gross profit. According to its filings, the company reported gross profit of about $491,000 for the fiscal year of 2021, about $103,000 gross profit for the fiscal year of 2020, and about $42,000 gross profit for the fiscal year of 2019.
UC Asset在过去几年中一直实现了运营盈利，并设法保持了毛利的稳定增长。根据其文件，该公司报告称，2021财年的毛利约为49.1万美元，2020财年的毛利约为10.3万美元，2019财年的毛利约为4.2万美元。
Later last year, UC Asset projected to close two deals which would have generated about $600,000 - $800,000 gross profits. UC Asset expects to close these two deals in the first half of 2023.
去年晚些时候，UC Asset预计将完成两笔交易，这将产生约60万至80万美元的毛利。UC Asset预计将在2023年上半年完成这两笔交易。
"With these two deals that we are very confident to close soon, and with a solid pipeline of deals we are developing and possibly closing in the second half of 2023, we are optimistic that our gross profit may break $1 million mark, for the first time of our operating history," says Greg Bankston, managing partner of UC Asset. "This will be exciting, given that our annual gross profit has never reached half million in the previous years."
加州大学资产管理合伙人格雷格·班克斯顿说：“我们非常有信心很快完成这两笔交易，而且我们正在制定稳固的交易渠道，并可能在2023年下半年完成，我们乐观地认为，我们的毛利可能在运营历史上首次突破100万美元大关。”“鉴于我们的年毛利润在过去几年中从未达到50万美元，这将令人兴奋。”
Bankston cautions that the company may not be able to realize these goals, and even if it does, it may not report similar net income growth due to non-operating costs, including fees to be paid to its management team.
班克斯顿警告说，该公司可能无法实现这些目标，即使实现了，由于非运营成本，包括向管理团队支付的费用，它也可能无法报告类似的净收入增长。
However, Bankston hints that the company has a plan to cut back the management team's payment considerably for the year of 2023, and thus may increase the margin of net income.
但是，班克斯顿暗示，该公司计划在2023年大幅削减管理团队的工资，因此可能会增加净收入的利润率。
Bankston also indicates that the company may distribute more dividend to its shareholders, if it reports higher net income.
班克斯顿还表示，如果公司报告更高的净收入，它可能会向股东分配更多的股息。
Last year, the company completed distribution to its shareholders a cash dividend of $0.10 per share.
去年，该公司完成了对股东每股0.10美元的现金股息的分配。
UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies. For more information about UC Asset, please visit:
UC Asset LP是一家有限合伙企业，旨在通过创新策略投资房地产。有关 UC Asset 的更多信息，请访问：
This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.
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For More Information Contact: IR@UCasset.com
欲了解更多信息，请联系：IR@UCasset.com
