Business
WMD Holdings Group announces continued growth in first quarter
WMD Holdings Group announces continued growth in first quarter.
About this update from Wmd Hldgs Group Inc
[{"type":"text","content":"RIVERSIDE, CA--(MARKET WIRE)--June, 16, 2006 -- WMD Holdings Group Inc. (Other OTC:WMDH.PK - News) (Worldwide Media Development Holdings Group, Inc.) announced today the release of results for the first quarter of 2006. \r\n\r\nThe company's net revenue grew to $2,060,000 versus $333,355 for the same period in 2005. Net revenues increased by 7% over the previous period of $1,929,950. \r\n\r\nNet income produced for the period was $356,675 compared to a loss of ($197,209) for the same period in 2005. Compared to the fourth quarter results, net income produced an EPS of $.01.\r\n\r\n\"WMDH has continued its strategic path of focusing on the retail financial center model for its future growth. The expansion of the retail financial centers and our systems solutions has solidified the company's commitment to profitability and sustained growth,\" stated Mr. Lawson Pillay, WMDH's CEO. \r\n\r\nAbout WMD Holdings Group, Inc. \r\n\r\nWMD Holdings Group, Inc. and its strategic partner companies develop turnkey solutions for financial and payment processing, prepaid services, telecommunications and interactive broadcasting networks. Distribution is conducted through a combination of company owned and operated locations and other independent sales organizations. \r\n\r\nThe new management team reflects a balance between decades of expertise, experience, business skills and strategic planning in the financial, telecommunications, technology and advertising industries. The diverse portfolio of people and products poises WMD Holdings for a successful future in multiple sectors. \r\n\r\nThe new management's allegiance to its shareholders is reflected by their actions taken during their brief tenure. To date the group's restructuring and focus on new markets, has resulted in creating a debt free company, with increased profitability on a quarterly basis. The result has been the growth of shareholder value as never experienced previously.\r\n\r\nManagement will continue to focus on profits, by a combination of further restructuring, the opening of newer markets and a series of synergistic mergers and acquisitions.\r\n\r\n\r\n ","length":2107,"tagName":"div"}]