Dynasty Limousine Inc., a full service Luxury Transportation and Limousine firm covering the southeast United States, is raising its full year earnings guidance after an all time record May.
Revenues in May broke the previous 12 year high, which was set last year, by 8%. This increase follows a record Q1 2011 which was up 39% over the same period one year ago. “We are seeing increases across the board in all types of charters,” stated Pierce Fleming, Dynasty Limousine’s vice president and chief financial officer. “While prom season is typically the best performing period for our business, this year has exceeded all previous years by a wide margin. Additionally, we are continuing to expand our Corporate client base and this is adding to the strong numbers year to date. We are pleased to announce that the forecast for 2011 is being raised in light of the performance so far this year.”
2011 Annual revenue forecasts have been revised from $792,000 to $918,000. This forecast represents a 31% increase over 2010. Net profit guidance is $402,000 and represents a 28% increase over the same period. 2011 earnings per share have also been raised from .07 to .09 per share.
Mr. Fleming added, “We will be increasing our staff and fleet throughout the balance of the year to help Dynasty achieve these targets. We are focused on paying down debt at a rapid rate, and this action allows more flexibility with our marketing strategies. Also, Dynasty is actively looking for a new facility that will allow for further expansion and the addition of two new revenue streams; a Limousine sales and service operation. The addition of these two businesses is not factored into the revised guidance for 2011.”
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