Brooke Capital Corporation Transition Nearing Completion
21 Luglio 2008 - 3:02PM
Marketwired
OVERLAND PARK, KS provided an update on the operating
initiatives the company announced in May.
During the second quarter, Brooke Capital transitioned from a
high-growth insurance agency franchisor that was dependent on
credit availability for acquisitions by franchisees, to a no-growth
insurance agency franchisor that is positioned to survive the
credit crunch. This transition required significant expense
reductions.
Although the second quarter represented a challenging time,
Brooke Capital's cash flow projections for the third quarter
indicate that the result of the transition met the company's
expectations. The transition is mostly completed and Brooke Capital
expects to return to profitability in the third quarter. Brooke
Capital appreciates the patience of franchisees, employees,
investors and vendors during this difficult transition period.
Assisting lenders with the sale of underperforming franchisees
is Brooke Capital's only remaining transitional activity of
significance. After underperforming franchisees are eliminated from
the franchise system, Brooke Capital's business activities will
focus on basic franchisor services such as commission allocations,
document management and advertising assistance.
As the result of national office personnel reductions, Brooke
Capital will soon terminate its office lease at 10950 Grandview in
Overland Park and consolidate these operations into Brooke
Capital's offices at 8500 College Blvd., in Overland Park.
About Brooke Capital Corporation
Brooke Capital Corporation (AMEX: BCP) is an Overland Park,
Kansas-based insurance organization founded in 1997. Brooke Capital
is an insurance agency franchisor and consultant.
Contact: Investor Relations Karen Haus Market Street Partners on
behalf of Brooke Capital Corporation 415-445-3238 Email Contact
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