LOS ANGELES, Aug. 2, 2006 (PRIMEZONE) -- Grand Havana Enterprises, Inc. (Pink Sheets:PUFF) today announced that it has released its third fiscal quarterly earnings for the period ending June 25, 2006. The company had revenues of $2,164,230 compared to $2,069,311 for the fiscal quarter ending June 26, 2005, an increase of $94,919 or approximately 4.6%.
The company had a net loss of $2,017 for the third fiscal quarter ended June 25, 2006, compared to a net loss of $7,403 for the fiscal quarter ending June 26, 2005, a decrease in net loss of $5,386 or approximately 72.8%.
The company announced that, for the nine months ended June 25, 2006, it had revenues of $6,652,529 compared to $6,370,686 for the nine months ended June 26, 2005, an increase of $281,843 or approximately 4.4%. For the nine months ended June 25, 2006, the company had net income of $405,255 compared to net income of $333,354 for the nine months ended June 26, 2005, an increase of $71,901 or approximately 21.6%.
Financial table available at: http://newsroom.eworldwire.com/media_uploads/Grand_Havana_3rd_Qtr_2006.xls.
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 Securities and Exchange Commission filings. All forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.
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