Southern Trust Securities Announces Third Quarter 2010 Operating Results - Increase of 203% in Revenue
23 11월 2010 - 3:25AM
Southern Trust Securities Holding Corp. ("STSHC") (OTCBB:SOHL), a
financial services company offering broker-dealer, investment
banking, investment advisory and wealth management services,
announced operating results for its third quarter period ended
September 30, 2010.
For the three month period ended September 30, 2010 STSHC
generated $826,988 of revenue compared to $272,663 of revenue for
the same three-month ended period of 2009, representing a 203%
increase in revenue. Net income for the quarter ended September 30,
2010 was a loss of $17,496, or $.001 per share compared to a loss
of $496,844, or $.04 per share for the quarter ended September 30,
2009.
For the nine month period ended September 30, 2010 STSHC
generated $2,190,369 of revenue compared to $971,121 of revenue for
the same nine-month period of 2009, representing a 125% increase in
revenue. Net income for the nine month ended September 30, 2010 was
a loss of $47,278, or $.003 per share compared to a loss of
$2,014,857, or $0.15 per share for the nine month ended September
30, 2009.
STSHC's CEO Mr. Robert Escobio commented, "We are very pleased
with our third quarter operating results. Our revenue has continued
to increase particularly with our core brokerage business where we
are seeing increased trading revenue due in part to our customers
renewed confidence in the markets. In addition, our subsidiary
Southern Trust Metals has added to its customer base due to
investors increased interest in precious metals such as gold,
silver and palladium."
Mr. Escobio continued, "As Southern Trust continues to increase
revenue we expect to increase our profitability due in large part
to the low cost infrastructure we have built. We hope to see growth
in all our business segments and are looking forward to an exciting
end of year and 2011."
About Southern Trust Securities Holding
Corp.
STSHC is a financial services company offering securities
brokerage, investment banking, asset management and private wealth
management for a growing base of retail and institutional,
corporate, and high-net-worth clients primarily in Latin America
and Asia. STSHC services include access to international investment
opportunities in U.S. and foreign capital markets, offshore
entities for financial planning, and cross-border transactions,
including private placements, bridge financing and reverse mergers
into publicly-traded shell corporations. STSHC operates through its
subsidiaries, Southern Trust Securities, Inc. (STS) and Southern
Trust Securities Asset Management, Inc. (STSAM), Southern Trust
Metals, Inc. (STM) and affiliated Geneva-based International
Private Wealth Management S.A. (IPWM). STS is a member of the
Securities Investors Protection Corporation (SIPC), National
Futures Association (NFA), and Financial Industry Regulatory
Authority (FINRA). STS clears trades through, and maintains
client accounts with, Pershing LLC, a wholly owned subsidiary of
The Bank of New York Mellon Co.
Forward- Looking Statements
This press release may contain statements of a forward-looking
nature relating to future events. These forward-looking statements
are subject to the inherent uncertainties in predicting future
results and conditions. These statements reflect the STSHC's
current beliefs, and a number of important factors could cause
actual results to differ materially from those expressed in this
press release. Except as otherwise required by federal securities
laws, the Corporation undertakes no obligation to update or revise
these forward-looking statements to reflect new events or
uncertainties.
CONTACT: Southern Trust Securities Holding Corp.
Robert Escobio, Chief Executive Officer
305-446-4800
Southern Trust Securities (CE) (USOTC:SOHL)
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