Littlefield Reports Improved Earnings - Sunday 29th of January 2006
AUSTIN, Texas Littlefield Corporation (OTCBB:LTFD) today announced earnings for the fourth quarter and for the full year 2005. Results were substantially improved when compared to Q4-2004. This is the seventh consecutive quarter of substantially improved operating earnings.
There were no significant extraordinary or non-recurring expenses during Q4-2005 though legal fees were over $200,000 greater in Q4-2005 than in Q4-2004.
Highlights, including all extraordinary income items, for the quarter are as follows:
1. Net income for Q4-2005 improved by $1,570,412 compared to Q4-2004. This is particularly significant given the magnitude of legal fees.
2. Net income for the year 2005 v 2004 increased by over $3,000,000 to $1,925,312 or $0.23 per share. This is also particularly significant as the Company had $665,368 more in legal fees in 2005.
3. EPS for Q4-2005 are $0.04, a $0.19 per share increase compared to Q4-2004.
4. EPS for FY 2005 are $0.23, a $0.36 per share increase compared to FY 2004.
5. On an operating basis (before the application of corporate overhead), Littlefield Hospitality (Word of Mouth, Premiere Tents & Events) had Q4-2005 earnings of $139,787 a 31% increase compared to Q4-2004.
6. On an operating basis, Littlefield Entertainment (bingo) had Q4-2005 earnings of $733,819 a 46% increase compared to Q4-2004.
7. Revenue for Q4-2005 increased by 17% compared to Q4-2004 with Littlefield Hospitality delivering a 19% increase and Littlefield Entertainment providing a 14% increase.
8. Revenue for FY 2005 is $11,341,007 a 14% increase with Littlefield Hospitality increasing by 27% and Littlefield Entertainment increasing by 7%.
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