PORTLAND, Ore., May 14, 2012 (GLOBE NEWSWIRE) -- Paulson Capital Corp. (Nasdaq:PLCC), parent company of Paulson Investment Company, Inc., today reported a net income of $1,412,294 (or $0.24 per share) for the three months ended March 31, 2012 versus a net loss of $381,210 (or ($0.07) per share) for the like period in 2011. Revenues for the three months ended March 31, 2012 totaled $5,609,660 versus $4,921,967 for the first quarter 2011.
Chester L.F. Paulson, Chairman, stated:
"We are very pleased the favorable trading climate in several of our larger positions helped the firm to profitability for this first quarter in 2012. We were equally as pleased to announce in March and pay in April the special cash dividend of $0.05 to our shareholders. After the completion of the sale of the retail business, the company is enthusiastically moving forward with its investment banking activities. We remain optimistic for the future."
Paulson Capital Corp. is the parent company of Paulson Investment Company, Inc. Located in Portland, Oregon, Paulson Investment Company is a national leader in public offerings of small and emerging growth companies with capital needs of $5 million to $25 million. Founded by Chet Paulson in 1970, it has managed or underwritten more than 165 public offerings and has generated more than $1 billion for client companies.
This release may contain "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties. Actual results of achievements may be materially different from those expressed or implied. The Company's plan and objectives are based on judgments with respect to future conditions in the securities markets as well as general assumptions regarding the economy and competitive environment in the securities industry, which can be volatile and out of our control. In particular, we make assumptions about our ability to complete corporate finance transactions and increase the volume and size of our securities operations, which are difficult or impossible to predict accurately and often beyond the control of the Company. Therefore, there can be no assurance that any forward-looking statement will prove to be accurate.