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ATC Venture Group Inc. Announces Financial Preliminary, Unaudited Results For Third Fiscal Quarter

Stocks in this article: ATC

The Company reported a net income from continuing operations of $197 thousand for the nine months ended June 30, 2012 compared to a net loss of $1.7 million in the prior year period. The Company reported a total net income, including discontinued operations, of $1.91 million for the nine months ended June 30, 2012 compared to a loss of $2.08 million in the prior year.

For the three months ended June 30, 2012 For the three months ended June 30, 2011
Continuing     Discontinued     Continuing     Discontinued    
Operations Operations Total Operations Operations Total
Sales $ 1,055,485 $ - $ 1,055,485 $ 990,780 $ 114,088 $ 1,104,868
Cost of goods sold   194,049       -       194,049   589,091         96,967         686,058  
Gross profit 861,436 - 861,436 401,689 17,121 418,810
Sales, general & admin 648,768 - 648,768 937,185 (114,323 ) 822,862
Other income (expense)   629,254       -       629,254   12,295         -         12,295  
Net income (loss) pre tax $ 841,921 $ - $ 841,921 $ (523,201 ) $ 131,444 $ (391,757 )
Net income (loss) $ 841,921     $ -     $ 841,921 $ (332,182 )     $ (90,272 )     $ (422,454 )

The Company reported total sales, including sales from discontinued operations, of $1.06 million for the fiscal quarter ended June 30, 2012 compared to $1.15 million in the prior year.

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