WESTON, Fla., Nov. 25, 2003 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this Tuesday morning are: Consumer Direct of America (OTCBB:CDIT), Advanced Viral Research (OTCBB:ADVR), Digital Broadband (OTCBB:DBBD) and Odyssey Healthcare Inc. (Nasdaq:ODSY).
Aggressive investors should pay close attention as the stock of Consumer Direct of America (OTCBB:CDIT) may have the potential for a big move this morning! Yesterday after the markets closed, the company issued a press release announcing profitability and improvements in all business segments for Q3 Fiscal 2003! The company, a leading consolidator in the mortgage brokerage industry, experienced its second consecutive quarter of profitability as it made significant investments in building infrastructure to support its growth through acquisition plan. Investors may have good reason to be excited!
According to the press release, in the third quarter ended Sept. 30, 2003, the company reported a net profit of $33,823, or $0.001 per basic and diluted share, on revenues of $2,479,822, as compared to a loss of $(126,131), or $(0.005) per basic and diluted share, on revenues of $2,804,096.
In the nine-month period ended Sept. 30, 2003, the company reported a 71% jump in revenues to $8,184,204 from revenues of $4,793,142 in the same nine-month period of the prior fiscal year. Net loss for the fiscal 2003 nine-month period narrowed to $(428,810), or $(0.01) per basic and diluted share as compared to a net loss of $(1,306,470), or $(0.05) per basic and diluted share in the same period of fiscal 2002. Revenue growth for the nine-month period is attributed to a significant increase in loan volume. Losses in the nine-month period ended Sept. 30, 2003 narrowed, while the company made a $1 million-plus investment in infrastructure, due to improved margins and growing origination fees as a result of higher loan volume.
Investors may want to study Consumer Direct very closely! "We are very pleased with the operational and financial goals we have achieved in the past nine months. Our primary objective was to make a significant investment in infrastructure in order to support our growth. We invested over $1 million to create the most technologically advanced infrastructure available in the mortgage brokerage business. We did this through internal funds while simultaneously returning to profitability. Our company is now in an ideal position to executive on an aggressive acquisition and growth plan," stated Consumer Direct of America CEO, Mr. Michael Barron.
Watch this one! Consumer Direct of America is a leading consolidator of the growing mortgage brokerage business. The company currently employs over 350 people, 240 of which are residential mortgage real estate brokerage professionals who have closed loan volume of over $330 million and $50 million in real estate sales for the year ended Dec. 31, 2002. According to company information, they plan to have 20 regional hubs across the United States by the end of 2004. The company's core competence in direct-to-consumer marketing technologies and methods results in efficiency rates that are up to 150% higher than industry averages.
Stocks showing interesting activity yesterday were: Advanced Viral Research (OTCBB:ADVR) up 11.8% on 2.8 million shares traded, Digital Broadband Network (OTCBB:DBBD) up 11.4% on 1.8 million shares traded and Odyssey Healthcare Inc. (Nasdaq:ODSY) up 11.3% on 2 million shares traded.
Commentary:
"Monday was the big day for switching your home phone number to any company and any phone device. In order to maximize your potential phone capability, learn what your habits are and compare rates and plans. Try negotiating with your current carrier, they don't want to lose your business and now you are in the drivers' seat," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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