PRNewswire/ -- Edd Helms Group, Inc. (OTC Bulletin Board: EDDH - news) today announced financial results for the third quarter 2001.
Revenues for the quarter ended February 28, 2001, were $5.02 million, an increase of 58% over revenues of $3.18 million for the same period in 2000. Net profit for the quarter ended February 28, 2001, was $333,200, an increase of $65,489, approximately 24% in the three-month period ended February 28, 2001, as compared to the three-month period ended February 28, 2000. This equates to 2.65 cents per share based on outstanding shares of stock totaling 12,581,608. Operating expenses for the quarter ended February 28, 2001, were $883,983 compared to $727,352 for the quarter ended February 28, 2000.
"We are very pleased with our performance this quarter and the first three quarters," stated Edd Helms, President and CEO. Sales for the first three quarters increased 75% over revenues from the same nine-month period of 2000. Net income for the nine-month period increased $646,353 or 177% over net income for the same nine-month period of 2000. Selling, general, and administrative expenses increased $435,496, or 21% as compared to the same expenses for the same nine-month period of 2000.
Edd Helms Group, Inc. is based in Miami, FL, and provides electrical, mechanical, and data communication services. Its main area of service is the South Florida area. The company typically provides its services from its fleet of service vehicles and licensed technicians providing electrical, air conditioning and data communications service to the customers. In addition, the company provides its services under construction contracts with owners and local area contractors.