Friday, September 29, 2006
Stockcoach Reports Third Quarter Results
Third quarter profits of $45,643
Outperforms benchmark Russell 2000 by 5.9 percent during quarter
Updates full year guidance
Stockcoach (Nasdog: STKC) today announced profits of $45,643 for the third quarter of 2006 compared to profits of $106,629 for the third quarter of 2005, a decrease of 57 percent. For the nine months ending September 30, 2006, profits declined 7 percent to $153,893, compared to $166,258 the first nine months of 2005. Stockcoach’s equity was $756,136 at the of the third quarter.
“I am pleased to report another profitable quarter,” said Mr. Stockcoach, President, janitor, and tea boy at Stockcoach, Inc. “This marks the ninth consecutive quarter that I have outperformed the S&P 500, Nasdaq, and the benchmark Russell 2000 index.”
Mr. Stockcoach continued, “At the beginning of this year, I had targeted to increase profits by 5 to 10 percent over last year’s levels. However, the past six months have been a difficult time for smallcap stocks, and particularly for the sort of microcap stocks that represent the bulk of my portfolio. Although I have been able outperform the markets, the rate of appreciation of my portfolio has fallen well below historic norms. Consequently, I now expect 2006 profits to be 15 to 25 percent below 2005 levels. While this is disappointing, I remain confident that my basic investment strategy can deliver higher profits in the years ahead for all my shareholders (me, myself, and I).