SAN DIEGO, Feb. 22, 2007 (PRIME NEWSWIRE) -- Dalrada Financial Corporation, (OTCBB:DFCO) a financial services company devoted to assisting small to medium size businesses announced today its financial results for the second quarter ended December 31, 2006. The Company reported revenues of $59 million for the quarter, a 305% increase over revenues of $18 million for the second quarter last year. For the six-month period, revenues were $96 million, a 313% increase over the prior year of $30 million.
Dalrada posted an operating profit for the second quarter of $974,000; a 53% increase from the prior-year. The company had an operating profit of $1.7 million for the six-month period compared to an operating loss in the prior year period.
The Company had a net loss of $679,000 ($0.14 per share) for the quarter and a net loss of $4 million ($0.81 per share) for the six month period. The net loss for the quarter ended December 31, 2006 and for the six-month period was due primarily to interest and non-cash derivative valuation charges.
"Dalrada continues to achieve its business plan objectives," said Brian Bonar, Chairman and CEO. "Our revenues continue to grow, and we have achieved operational profitability over the past several quarters," he added.
Dalrada provides employer business solutions to small and medium-size businesses. Its customers outsource many administrative tasks associated with human resources management to Dalrada. Services include payroll processing, workers' compensation insurance, employee benefits (including 401k and health insurance plans), and business risk management (including general and professional liability insurance), and staffing services.
About Dalrada Financial
Dalrada Financial Corporation provides employer business solutions to small to medium-size businesses. The Company assists clients in providing a wide variety of management and employee programs that increase business efficiency. These include: payroll and human resources support, staffing, employee benefits, risk management insurance (including workers' compensation and business liability), financial management, and other business management products and services. Information on the Dalrada family of companies is available at: www.dalrada.com; and www.allstaffing.com.
Safe Harbor:
Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.