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Home / Knowledge / News / Fashion / Abazias sees positive cash flow for year ended June 30

Abazias sees positive cash flow for year ended June 30

17
Aug '05
Leading international diamond seller Abazias is pleased to announce a record quarter for the period ending ended June 30, 2005.

"The sales increased 89% to $735,683 while they reduced General and Administrative expenses by 78% over last year. At the same time, Gross Profit has increased significantly over 205% to over $117,000 dollars over the same period a year ago." states Oscar Rodriguez, CEO of Abazias.com.

All indications point to profitability and excluding non cash items they are profitable now, and expect a lucrative end to the year.

In addition, the Gross Margin also increased significantly by almost 60% from the same period last year. Just as important, this was also the first quarter that Abazias showed a positive cash flow, as a public company, by over $43,000.

"These significant results indicate that profitability is within reach since they posted a meager loss of only $25,933 for the quarter of which almost $66,000 dollars was a stock expense. Had it not been for such expense, they would be profitable today," Rodriguez commented further. For more information regarding the results, please review the most recent 10Q filing available online.

Activities for 2005 include investor relations through professional associations including SmallCapVoice.com, and investor relations with road show luncheons in key markets through Friedland Capital. Additionally, Abazias continues to promote the company through consumer public relations and strategic marketing alliances including promotional giveaways on national television game shows like, The Price is Right.


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