SARASOTA, Fla., Nov. 19, 2007 (PRIME NEWSWIRE) -- Kesselring Holding Corporation (OTCBB:KSSH) announced today that it has completed implementation of MAS 200, a new accounting enterprise solutions software. This system provides the improved capability of financial controls as well as the financial management of consolidating its current and future acquired companies.
MAS 200 utilizes standardized reporting of the balance sheet, income statement and cash management for each subsidiary owned by the Holding Company. It also enables future acquisitions to roll into the financial reporting structure by having a standardization process in place.
"The ability to communicate financially between the Holding Corporation and each subsidiary for financial transactions and statement reporting is crucial," stated Allen Eckerle, Kesselring Holding Corporation's Controller. "With the system, we can record all subsidiary financial transactions and then consolidate them into the Holding Company financial statements."
CEO Douglas P. Badertscher stated, "Companies being acquired are looking for better financial controls and MAS 200 provides us with a platform financial product which gives us the ability to standardize our financial reporting throughout the enterprise. This results in a better reporting package in a timely and efficient manner."
Kesselring Holding Corporation, dedicated to restoring the luster to America's commercial buildings, is proud of the fact that its subsidiaries have been independently operating since 1948 in the areas of restoration, construction, aluminum products, cabinetry, woodworking, and door and hardware materials. These companies include: Kesselring Construction Corporation, King Brothers Woodworking Inc., and King Door & Hardware Inc. With offices in Florida and Washington State, the companies provide skilled experience, customized project management, and a reputation for quality and integrity. For more information about Kesselring Holding Corporation or any of its subsidiaries, please visit www.KesselringHolding.com on the Web or call 941-953-5774.
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Statements about the expected future prospects of our business, statements about our outlook for internal revenue growth in 2007 and 2008, and all other statements in this release other than historical facts, constitute forward-looking statements. You can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "would," "should," "seeks," "approximately," "intends," "plans," "estimates," or "anticipates" or similar expressions which concern our strategy, plans or intentions. All statements we make relating to estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and financial results are forward-looking statements. In addition, we, through our senior management, from time to time make forward-looking public statements concerning our expected future operations and performance and other developments. All of these forward-looking statements are subject to risks and uncertainties that may change at any time, and, therefore, our actual results may differ materially from those we expected. We derive most of our forward-looking statements from our operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and, of course, it is impossible for us to anticipate all factors that could affect our actual results. Some of the factors that we believe could affect our results include: conditions in the restoration, construction and building products industries, change in interest rates, the impact of severe weather on the Company's restoration and construction operations, the effect of governmental regulation on the Company and other factors described from time to time in our filings with the Securities and Exchange Commission. The factors described in this paragraph and other factors may affect our business or future financial results. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.