Carnegie Cooke & Company
By keely
Carnegie Cooke & Company has announced unaudited operating results for the ten months ending October 31, 2001. These are as follows: Gross Revenues of $2,583,294 and Net Earnings of $2,174,993 representing increases of 131% and 155%, respectively, over the results for the first ten months of the year 2000. Diluted earnings per share were up 150% over the same period last year to $0.10 (ten cents), and up 150% over the six-month period ending June 30, 2001.

CEO Jay Goldberg commented, “The results released come from the OTB’s that were fully operational and the 7 Jockey Clubs that were fully mechanized at the October 31, 2001. Our working capital position has increased from $7,717 at October 31, 2000 to $2,898,978 at October 31, 2001. In addition, the portion of working capital made up of cash and cash equivalents continues to increase. For example, only 60% of working capital was made up of cash and cash equivalents at June 30, 2001 compared to 88% at September 30, 2001 and 91% at October 31, 2001. Further to this point, working capital has increased $1,470,636 or 102%, since June 30 2001. During the past 4 months, all of the increase in Working Capital was derived from revenue. Any increase in invested capital has been used strictly for the mechanization of the Jockey Clubs and the purchase of machinery and equipment for the OTB’s.”

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