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NexGen Holdings Reports Results of Operations for the Quarter Ended December 31, 2013
NexGen Holdings Reports Results of Operations for the Quarter Ended December 31, 2013.
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[{"type":"text","content":"\n \n \n NexGen Holdings Reports Results of Operations for the Quarter Ended December 31, 2013\n \n \nNexGen Holdings Reports Results of Operations for the Quarter Ended December 31, 2013\n\nNexGen Reports That Revenues Topped $1.6 Million for the Quarter, Bookings Are Up 30%, While Gross Margins Increased to 30.2%, & Net Income Jumped 117%\n\n \n QUEEN CREEK, AZ--(Marketwired - Feb 20, 2014) -  NexGen Holdings Corp (PINKSHEETS: XGEN) announced its consolidated results of operations for its fiscal first quarter ended December 31 2013. \n The Company continued to show record revenues and profits primarily from its Cameo division as well as contributions from its alternative energy subsidiary, WindPower Solutions Inc.\n The Company reported the following consolidated results: Revenues for the quarter were $1,605,000 vs $2,000 for the same quarter the previous year. This is an increase of $1,603,000. Net Income for the quarter was $115,000 vs a net loss of $22,000 in 2012, a turnaround of $137,000 or an increase of 622%. \n The fiscal first quarter from October to December is historically the slowest quarter of the year for the Company's largest subsidiary, RIG Construction d/b/a Cameo pools which contributes the vast majority of the Company's revenues and earnings. However, when comparing the quarter ended September 30, 2013 with the quarter ending December 31, 2013, (quarter over quarter) revenues increased slightly from $1,603,000 to $1,605,000 while net income more than doubled from $53,000 to $115,000 (117% increase).\n While the vast majority of the Company's revenue and earnings were generated by RIG Constructions d/b/a Cameo Pools the Company included in the consolidated numbers the contributions of its alternative energy subsidiary WindPower Solutions, Inc which contributed $115,000 in gross revenue, $9,000 in Gross Margin and from which it earned net income of $4500 compared to revenue of $2,000 and a net loss in the same quarter in 2012. \n Steve Vollaro, Director and Chief Operating Officer of R.I.G. Construction, said, \"Since the acquisition by NexGen we have been steadily improving our operations week after week, month after month and those improvements have shown up in significant improvements over the course of the quarter. I expect that the Cameo division alone should post a 40% increase in...