Whitney Information Network Attends NIBA and Wall Street Reporter Conferences
Whitney Information Network Attends NIBA and Wall Street Reporter Conferences
For Immediate Release
For More Information:
Earnest Mathis, Inverness Investments 303/794-9450
Ron Simon, CFO 239/542-8999
Comprehensive Communications 480/540-8336 CAPE CORAL, Fla – October 9, 2002 – Whitney Information Network, Inc., a leading provider of post-secondary career training programs designed to educate students in the areas of real estate investing, business development, asset protection and financial management, today announced it recently completed a series of lectures and presentations at the National Investment Banking Association (NIBA) New Orleans Capital Conference, September 12-16. The Company emphasized its record earnings and revenue, as well as its strategies for future growth to investment bankers from across the nation. The conference began a two-week long lecture series for the Company, which ended with its participation in a roundtable discussion for a Wall Street Reporter Education Conference Call in New York City. Representatives from the Company presented Company highlights to investment analysts, investment bankers and stockbrokers while at the New Orleans conference. Rick Bowers, Director of Development for Whitney and a presenter at the conference stated, “We were very well received and have had significant follow-up interest from the IB community. Our goal was to present our strong fundamentals and five-year performance record to investment bankers, as well as outline our plan to enhance operating gross and net revenues.” Mr. Bowers spoke on a series of issues in relation to the Company such as its dominance in the real estate training market, “We believe that we effectively dominate our niche in the market for training real estate property investors because we estimate that we do approximately three times as much business as our closest competitor. Through utilization of our strategic alliances, we are vertically integrated.” An example of Whitney's market domination was noted by a student success rate, “Many of our students who take the most commonly prescribed curriculum enter into the world of real estate property investing, actually applying what we teach on a regular basis.” Financial highlights noted at the conference regarding Whitney Information Network included: · A 5-year revenue growth of 760% with attendant increases in earnings per share. · First 6-months revenue and earnings for 2002 effectively more than doubled last year's performance. · Gross revenue for the first 6-months of 2002 is almost $33 million, versus $42 million for all of 2001. · At current market price, RUSS trades at a P/E substantially lower than the average P/E ratio in the for-profit training and education industry. As part of this two-week lecture series, Chairman and CEO, Russ Whitney was invited to participate in a discussion for the Wall Street Reporter Education Roundtable Conference Call on September 18, 2002. Mr. Whitney discussed the education industry with several leading education stock analysts and education industry CEOs, followed by a highly productive question and answer session. Whitney Information Network, Inc. is an international leader in the post-secondary career training sector. Whitney is a fully integrated training and education company that creates, produces and markets a wide variety of training programs. Thousands of students register each week for training in real estate investment, business development, asset protection, and financial management. The Company maintains its International Corporate Headquarters in Cape Coral, Florida with its consulting group based in Salt Lake City, Utah. Its Canadian subsidiary, Whitney Canada, Inc., conducts its operations from Mississauga, Ontario and its United Kingdom subsidiary, Whitney UK, Ltd. is located in Chiswick, England. The Company is listed on the Internet at
http://www.russwhitney.com and its shares trade under the ticker symbol RUSS on the Electronic Bulletin Board. 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.
Earnest Mathis, Inverness Investments 303/794-9450
Ron Simon, CFO 239/542-8999
Comprehensive Communications 480/540-8336 CAPE CORAL, Fla – October 9, 2002 – Whitney Information Network, Inc., a leading provider of post-secondary career training programs designed to educate students in the areas of real estate investing, business development, asset protection and financial management, today announced it recently completed a series of lectures and presentations at the National Investment Banking Association (NIBA) New Orleans Capital Conference, September 12-16. The Company emphasized its record earnings and revenue, as well as its strategies for future growth to investment bankers from across the nation. The conference began a two-week long lecture series for the Company, which ended with its participation in a roundtable discussion for a Wall Street Reporter Education Conference Call in New York City. Representatives from the Company presented Company highlights to investment analysts, investment bankers and stockbrokers while at the New Orleans conference. Rick Bowers, Director of Development for Whitney and a presenter at the conference stated, “We were very well received and have had significant follow-up interest from the IB community. Our goal was to present our strong fundamentals and five-year performance record to investment bankers, as well as outline our plan to enhance operating gross and net revenues.” Mr. Bowers spoke on a series of issues in relation to the Company such as its dominance in the real estate training market, “We believe that we effectively dominate our niche in the market for training real estate property investors because we estimate that we do approximately three times as much business as our closest competitor. Through utilization of our strategic alliances, we are vertically integrated.” An example of Whitney's market domination was noted by a student success rate, “Many of our students who take the most commonly prescribed curriculum enter into the world of real estate property investing, actually applying what we teach on a regular basis.” Financial highlights noted at the conference regarding Whitney Information Network included: · A 5-year revenue growth of 760% with attendant increases in earnings per share. · First 6-months revenue and earnings for 2002 effectively more than doubled last year's performance. · Gross revenue for the first 6-months of 2002 is almost $33 million, versus $42 million for all of 2001. · At current market price, RUSS trades at a P/E substantially lower than the average P/E ratio in the for-profit training and education industry. As part of this two-week lecture series, Chairman and CEO, Russ Whitney was invited to participate in a discussion for the Wall Street Reporter Education Roundtable Conference Call on September 18, 2002. Mr. Whitney discussed the education industry with several leading education stock analysts and education industry CEOs, followed by a highly productive question and answer session. Whitney Information Network, Inc. is an international leader in the post-secondary career training sector. Whitney is a fully integrated training and education company that creates, produces and markets a wide variety of training programs. Thousands of students register each week for training in real estate investment, business development, asset protection, and financial management. The Company maintains its International Corporate Headquarters in Cape Coral, Florida with its consulting group based in Salt Lake City, Utah. Its Canadian subsidiary, Whitney Canada, Inc., conducts its operations from Mississauga, Ontario and its United Kingdom subsidiary, Whitney UK, Ltd. is located in Chiswick, England. The Company is listed on the Internet at
http://www.russwhitney.com and its shares trade under the ticker symbol RUSS on the Electronic Bulletin Board. 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.