SUN VALLEY, Calif., Dec. 19, 2006 (PRIME NEWSWIRE) -- Emergent Group Inc. (OTCBB:EMGP), a leading provider of mobile medical lasers and surgical equipment, today announced that the Board of Directors declared an annual dividend of $0.20 per share. The dividend will be paid to shareholders of record on December 29, 2006 and payable on January 18, 2007.
Bruce J. Haber, Emergent Chairman and CEO, said, "This dividend is an increase of 100% above the dividend the Company paid last year and reflects the dramatic improvement in the performance of Emergent Group in 2006." Mr. Haber added that, "This dividend is an indication of the Board's confidence in the Company and our continuing desire to reward stockholders and enhance the value of the Company's shares."
As previously announced, for the nine months ended September 30, 2006, Emergent revenues increased 32% to $11,981,961, compared to $9,052,744 for the same period in 2005. Net income increased 131% to $1,459,567 or $0.27 per basic share ($0.25 per diluted share) for the nine months, compared to net income of $631,884 or $0.13 per basic and diluted share for the same period in 2005. Mr. Haber remarked that, "The Company competes in a vital and fast growing marketplace providing modern technology to hospitals and physicians. We continue to have excellent opportunities for growth as we add new product lines and expand our geographic penetration."
About Emergent Group Inc.
Emergent Group Inc. through its wholly owned subsidiary, PRI Medical Technologies, Inc. ("PRI Medical") provides mobile laser and surgical equipment on a per procedure basis to hospitals, out-patient surgery centers, and physicians' offices. Surgical equipment is provided to customers along with technical support personnel to ensure that such equipment is operating correctly. PRI Medical currently offers its services in California, Nevada, Colorado, Utah, Arizona and New York. For product and other information, visit PRI Medical's website, http://www.primedical.net.
Forward-Looking Statements:
Statements in this news release may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934. Such statements may involve various risks and uncertainties, some of which may be discussed in the Company's most recent report on Form 10-KSB and subsequently filed SEC reports. There is no assurance any forward-looking statements will prove accurate, as actual results and future events could differ materially from those presently anticipated.