NEW YORK, Dec. 16, 2003 (PRIMEZONE) -- Pacific CMA, Inc. (AMEX:PAM), a global freight forwarding/logistics services company, today announced that the firm has been featured in a newly published outlook for 2004 by Barrow Street Research, Inc. The outlook is available in its entirety on the research firm's web site at www.barrowstreet.com.
"For our part," the report notes, "we are very pleased with our record of recommendations for 2004. For instance, when we first featured Pacific CMA in July of 2003 the stock was selling at $0.69. As of this writing the stock is priced at $2.22. That's a gain of nearly 300%.
"Newly listed on the American Stock Exchange (AMEX) earlier this month," the report continues, "Pacific CMA has made remarkable progress since we first brought the stock to the attention of our readers. Among the notable achievements that the company has reported is a nearly 63% rise in revenues for the nine months ended September 2003, compared with the similar period in 2002. The year ahead should be highlighted by higher sales levels, and an increasingly obvious trend toward improved profitability. In our opinion, the AMEX listing is destined to increase investor awareness of the stock. Accordingly, we continue to rate PAM a Strong Buy and now believe the stock can trade in the $6-8 vicinity over the next 12-months.
Barrow Street Research, Inc. is one of the nation's first online independent research firms, and will celebrate its 10th anniversary in 2004. It was created in an attempt to fill a niche in the investment research market, specifically recognizing that many small and micro cap companies with promising futures nevertheless found it virtually impossible to obtain coverage from most Wall Street research departments.
About Pacific CMA, Inc.
Pacific CMA, Inc. is a non-asset-based logistics service provider/freight-forwarding company that arranges on time and intact delivery of goods, primarily through the ports of Hong Kong and New York, to customers worldwide. Further information on the company can be found at its web site, www.pacificcma.com.
Except for the historical information contained herein, the matters set forth in this release are forward-looking statements that are based on certain assumptions and expectations of future events. These assumptions and expectations are dependent on, and subject to, certain risks and uncertainties including, but not limited to, such factors as market demand, pricing, risks associated with litigation and insurance coverage, risks associated with operations outside of the U.S., changing economic conditions such as general economic slowdown and decreased consumer confidence, and other risk factors contained under "Cautionary Statement" in Pacific CMA's annual report on Form 10-K.