Paulson Capital Corp. Reports Fiscal Year 2012 Results
PORTLAND, Ore., March 21, 2013 (GLOBE NEWSWIRE) -- Paulson Capital Corp.
(Nasdaq:PLCC), parent company of Paulson Investment Company, Inc. ("PICI"),
today reported a net loss of $395,809, or ($0.07) per share for the year ended
December 31, 2012 versus a net loss of $3,124,020, or ($0.54) per share for
the year ended December 31, 2011. Revenues for the year ended December 31,
2012 totaled $7,724,591 compared to revenues of $15,405,567 for the prior
year. The lower revenues in fiscal 2012 were largely due to a 74% decline in
commissions as a result of the sale of substantially all of the Company's
retail brokerage operations to JHS Capital Advisors, LLC which closed on April
As announced in February 2013, the Company has been exploring the restructure
of PICI's business, which would include bringing in new capital and adding new
management people and brokers. The restructuring, which is designed to expand
PICI's investment banking capabilities to include early- and late-stage
private financing, would be subject to FINRA approval.
Chester L.F. Paulson, Chairman, stated:
"With the sale of our retail brokerage business and the contemplated
restructuring of Paulson Investment's business, this has been a year of
transition for the Company. We are building upon our 40 years of experience of
advising and underwriting emerging companies in the public market place to
include early- and late-stage private financing. We believe Paulson will be
well positioned to capitalize on the tremendous opportunities presented by
recent positive regulatory changes for capital raising by smaller companies in
both the public and private venture sectors."
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 $45 million. Founded by Chet Paulson in 1970, it has
managed or underwritten more than 166 public offerings and has generated
approximately $1.2 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.
CONTACT: Chester L.F. Paulson - 503-243-6000
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