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| more related to Titanic Revealed | | Date Created: Feb 23, 2005, 11:15 PM |
I received this from the company that discovered and is salvaging the USS Republic that sank in 1865. It might be of interest to compare it to Bob Ballard's attitude about how the Titanic should be treated. As I said in the review. I don't see much difference except that the Titanic sank in 1912 which is 47 years later.
TAMPA, FL - February 23, 2005 - Odyssey Marine Exploration, Inc (AMEX:OMR), a leader in the field of deep ocean shipwreck exploration has estimated annual revenue and earnings per share for 2004 and has launched a sales center for sales of select shipwreck artifacts and related merchandise.
Based on preliminary financial results, Odyssey expects total consolidated revenue for the ten month fiscal year, which ended December 31, 2004, to be approximately $17.6 million. This compares to revenue for the previous twelve month fiscal year, which ended February 29, 2004, of $ .1 million. Net income and after tax earnings are estimated to be $5.2 million and fully diluted earnings per share are estimated at $.13 for the ten month fiscal year ending December 31, 2004. This compares to a net income of $ .6 million and earnings per share of $.02 in the previous 12 month fiscal year ended February 29, 2004. Actual annual results will be announced in the upcoming 10KSB, scheduled to be released in March. The short fiscal year is the result of a transition to a calendar fiscal year.
Odyssey began testing a direct sales center in December of 2004. Based on the results of those tests, the direct sales center has now transitioned to an operational unit. Odyssey representatives are currently offering "shipwreck effect" coins and bottles from the SS Republic, as well as other Republic, Odyssey and shipwreck related merchandise. Graded gold coins will continue to be distributed exclusively through Odyssey's dealer network. "Our direct sales center gives us an opportunity to interact directly with the public as we build our audience for future Odyssey shipwreck collectibles and merchandise," stated Davis Howe, Odyssey Chief Operating Officer. "We're extremely pleased with the efforts and results achieved by our marketing team to date and we plan to add new revenue streams to the company as we move forward."
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