MINOT, N.D., March 22, 2012 (GLOBE NEWSWIRE) -- Capital Financial Holdings, Inc. (CPFH.OB), a financial services company, reports revenues for the fourth quarter of 2011 of $3,715,984, a 25% decrease from revenues of $4,986,360 for the fourth quarter of 2010. Revenues for the year ended December 31, 2011 were $17,990,474, a 7% decrease from revenues of $19,391,807 for the year ended December 31, 2010.
The Company reported a net loss of $65,082, or ($0.01) per diluted share, for the fourth quarter of 2011, compared to a net loss of $778,792, or ($0.05) per diluted share, for the fourth quarter of 2010. The net income for the year ended December 31, 2011 was $57,652, or $0.00 per diluted share, compared to a net loss of $994,782, or ($0.07) per diluted share, for the year ended December 31, 2010.
The increase in earnings was due primarily to a gain recorded, in the second quarter of 2011, resulting from a prepayment of the outstanding convertible promissory note.
Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve a number of risks and uncertainties. The Company cautions that various factors, including the factors described under the caption forward-looking statements in the Company's annual report on Form 10-K, could cause actual results to differ materially from the statements contained herein. These factors include the following: business conditions and growth in the financial services industry, regulatory changes; general economic conditions; competitive factors including compressed net profit margins; changes in product mix; labor strikes; fluctuations in foreign currency exchange rates; income tax legislation; and the risk factors listed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.
Capital Financial Holdings, Inc. is publicly traded over the OTC Bulletin Board under the symbol CPFH.OB. The Company continues to operate as a Broker-Dealer with its wholly owned subsidiary Capital Financial Services, Inc.; a full-service brokerage firm that specializes in providing investment products and services to independent investment advisors and financial planners throughout the United States. More information is available at http://capitalfinancialholdings.com or by calling (877) 814-6379.