NEW YORK, May 12, 2006 (PRIMEZONE) -- Grand Havana Enterprises, Inc. (Pink Sheets:PUFF) today announced that it has released its second fiscal quarterly earnings for the period ending March 26, 2006. The company had revenues of $2,047,370 compared to $2,004,865 for the fiscal quarter ending March 27, 2005, an increase of $42,505 or approximately 2.1 percent. The company had a net income of $33,241 for the second fiscal quarter ended March 26, 2006 compared to net income of $23,114 for the fiscal quarter ending March 27, 2006, an increase in net income of $10,127 or approximately 43.8 percent.
The company announced that for the six months ended March 26, 2006 it had revenues of $4,488,299 compared to $4,301,375 for the six months ended March 27, 2005, an increase of $186,924 or approximately 4.3 percent. For the six months ended March 26, 2006 the Company had a net income of $407,272 compared to net income of $340,757 for the six months ended March 27, 2005, an increase in net income of $66,515 or approximately 19.5 percent.
About Grand Havana Enterprises, Inc.
Grand Havana Enterprises, Inc. owns and operates private membership cigar clubs under the name "Grand Havana Room" and one retail cigar store under the name "Grand Havana House of Cigars." Grand Havana currently owns and operates two Grand Havana Rooms which are located in Beverly Hills, Calif. and New York, N.Y., and one Grand Havana House of Cigars retail store located in Beverly Hills, Calif. Grand Havana's primary business is operating its existing cigar clubs and retail store.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding the Company's expectations, goals or intentions about the future, including, but not limited to, statements regarding revenues and operating results. Actual results may differ materially from those described in or implied by any forward-looking statement. In particular, there can be no assurance that actual revenues and operating results shall continue to be in line with current expectations. Other important factors are set forth in our Securities and Exchange Commission filings. All forward-looking statements speak only as of the date made, and we undertake no obligation to update these forward-looking statements.
A detailed spreadsheet is available at: http://newsroom.eworldwire.com/media_uploads/Statement_of_Operations_2nd_Qtr_FYE_2006.xls
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