Equity Securities Initiates Coverage on Whitney Information Network, Inc.
Equity Securities Initiates Coverage on Whitney Information Network, Inc.
For Immediate Release
For More Information:
Earnest Mathis, Inverness Investments 303/794-9450
Ron Simon, CFO 239/542-8999
Comprehensive Communications 480/540-8336
For More Information: Todd M. Pitcher of Equity Securities Investments, Inc. 858/964-5668 GOLDEN VALLEY, Minn., June 13 /PRNewswire/ -- The following is being issued by Equity Securities, a member of the National Association of Securities Dealers, CRD number 42941: Equity Securities analyst Todd M. Pitcher today initiated coverage on Whitney (OTC Bulletin Board: RUSS) with a long-term buy, speculative, rating. Whitney, headquartered in Cape Coral, Florida is a leading provider of educational and training services through its publications and lectures targeted at the real estate, financial and business success market segments. Pitcher commented that "Whitney continues to execute strong revenue and earnings growth in spite of overall market conditions, and is extremely well positioned to build on that momentum." Key Points: · Whitney is a leading provider of education services in the profit education sector, one of the fastest growing segments of the learning economy.
· Whitney's highly scalable business model and distribution channels enable it to continue to seek out new markets and develop products, adding to its real estate core business, targeting business financial management and formation as well as asset protection and stock market investing as new growth opportunities, which we believe will continue to drive top line revenue growth moving forward.
· Whitney currently has almost US$11 million cash on hand, which puts the Company in a strong position to address potential acquisition opportunities that will further drive its growth strategies, as well as complement its existing business.
· The Company recently posted its strongest quarter in its history, posting US$3.34 million in earnings, or $.43 per share on US$15.5 million in overall revenue. We have discounted substantially the relative multiples which we would value Whitney at, and at the current trading levels, we would suggest the stock is still highly undervalued. With that in mind, we are initiating coverage of Whitney Information Network with a long-term buy (speculative) and placing a 12 to 18-month price target on the stock in a range of $6 to $10, and based upon our projections that the Company will earn $.84 per share for the current fiscal year on top line revenue of $51,432,018. About Equity Securities Investments
Equity Securities Investments is a regional investment banking firm and licensed broker dealer, headquartered in Golden Valley, Minnesota with offices in Scottsdale, Arizona and San Diego, California. The material, information and facts discussed in this report are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This report should not be used as a complete analysis of the company, industry or security discussed in the report. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Equity Securities Investments, Inc./Todd Pitcher and/or its employees, officers, directors and owners, may purchase or sell the securities mentioned in this report at any time this report is in circulation. Such actions may be contrary to any recommendations discussed in this report. Any opinions or estimates in this report are subject to change without notice. Equity Securities Investments, Inc./Todd Pitcher and/or its employees, officers, directors and owners, may own options, rights or warrants to purchase the securities discussed in this report. This research contains forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Act of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. No part of this report may be reproduced in any form without the express written permission of Equity Securities Investments Inc. Equity Securities Investments, Inc. mayfrom time to time perform or seek to perform investment-banking services for one or more of the companies mentioned in this report. This security may involve a high degree of risk and may not be suitable for all investors. Equity Securities Investments is currently engaged as under an Investment Banking agreement with Whitney Information Network Inc., and has received non-contingent professional fees as compensation for the preparation of a corporate due diligence on the Company. Equity Securities, Inc. Copyright 2002. Member: NASD/SIPC. Information included in this news release contains forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 ("Reform Act"). Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results and performance of the Company to differ materially from any expected future results or performance, expressed or implied, by the forward-looking statements. In connection with the safe harbor provisions of the reform act, the Company has identified important factors that could cause actual results to differ materially from such expectations, including operating uncertainty, uncertainties relating to economic issues and competition. Reference is made to all of the Company's SEC filings, including the Company's Reports on Forms 10KSB, 10QSB and other periodic reports.
For More Information:
Earnest Mathis, Inverness Investments 303/794-9450
Ron Simon, CFO 239/542-8999
Comprehensive Communications 480/540-8336
For More Information: Todd M. Pitcher of Equity Securities Investments, Inc. 858/964-5668 GOLDEN VALLEY, Minn., June 13 /PRNewswire/ -- The following is being issued by Equity Securities, a member of the National Association of Securities Dealers, CRD number 42941: Equity Securities analyst Todd M. Pitcher today initiated coverage on Whitney (OTC Bulletin Board: RUSS) with a long-term buy, speculative, rating. Whitney, headquartered in Cape Coral, Florida is a leading provider of educational and training services through its publications and lectures targeted at the real estate, financial and business success market segments. Pitcher commented that "Whitney continues to execute strong revenue and earnings growth in spite of overall market conditions, and is extremely well positioned to build on that momentum." Key Points: · Whitney is a leading provider of education services in the profit education sector, one of the fastest growing segments of the learning economy.
· Whitney's highly scalable business model and distribution channels enable it to continue to seek out new markets and develop products, adding to its real estate core business, targeting business financial management and formation as well as asset protection and stock market investing as new growth opportunities, which we believe will continue to drive top line revenue growth moving forward.
· Whitney currently has almost US$11 million cash on hand, which puts the Company in a strong position to address potential acquisition opportunities that will further drive its growth strategies, as well as complement its existing business.
· The Company recently posted its strongest quarter in its history, posting US$3.34 million in earnings, or $.43 per share on US$15.5 million in overall revenue. We have discounted substantially the relative multiples which we would value Whitney at, and at the current trading levels, we would suggest the stock is still highly undervalued. With that in mind, we are initiating coverage of Whitney Information Network with a long-term buy (speculative) and placing a 12 to 18-month price target on the stock in a range of $6 to $10, and based upon our projections that the Company will earn $.84 per share for the current fiscal year on top line revenue of $51,432,018. About Equity Securities Investments
Equity Securities Investments is a regional investment banking firm and licensed broker dealer, headquartered in Golden Valley, Minnesota with offices in Scottsdale, Arizona and San Diego, California. The material, information and facts discussed in this report are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This report should not be used as a complete analysis of the company, industry or security discussed in the report. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Equity Securities Investments, Inc./Todd Pitcher and/or its employees, officers, directors and owners, may purchase or sell the securities mentioned in this report at any time this report is in circulation. Such actions may be contrary to any recommendations discussed in this report. Any opinions or estimates in this report are subject to change without notice. Equity Securities Investments, Inc./Todd Pitcher and/or its employees, officers, directors and owners, may own options, rights or warrants to purchase the securities discussed in this report. This research contains forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Act of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. No part of this report may be reproduced in any form without the express written permission of Equity Securities Investments Inc. Equity Securities Investments, Inc. mayfrom time to time perform or seek to perform investment-banking services for one or more of the companies mentioned in this report. This security may involve a high degree of risk and may not be suitable for all investors. Equity Securities Investments is currently engaged as under an Investment Banking agreement with Whitney Information Network Inc., and has received non-contingent professional fees as compensation for the preparation of a corporate due diligence on the Company. Equity Securities, Inc. Copyright 2002. Member: NASD/SIPC. Information included in this news release contains forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 ("Reform Act"). Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results and performance of the Company to differ materially from any expected future results or performance, expressed or implied, by the forward-looking statements. In connection with the safe harbor provisions of the reform act, the Company has identified important factors that could cause actual results to differ materially from such expectations, including operating uncertainty, uncertainties relating to economic issues and competition. Reference is made to all of the Company's SEC filings, including the Company's Reports on Forms 10KSB, 10QSB and other periodic reports.