ValCom, Inc. (VLCO) moves skyward on Q1 bottom line
Posted on: May 24th, 2011Written by:
ValCom, Inc. (Pink Sheets: VLCO) enjoyed a share price hike Tuesday of 125.7% to 3.95 cents, after the media and entertainment company announced a big gain in quarterly earnings. Volume for the stock was 66.1 million as the closing bell neared.
The second-quarter financial results showed 33 cents in earnings per share, or about 15 times where the stock is currently trading. A key statistic in the quarterly financial data is the company’s total assets, which grew over 200% from September 2010 to over $24 million. The increase is primarily due to the company’s audio and film library and growth within its My Family TV television network.
According to company CEO Vince Vellardita, “ValCom is starting to heat up! Our financial results are starting to show what our shareholders have waited for. This company has been dramatically undervalued as we continue to execute our business plan to increase shareholder value.”
ValCom expects a great surge in revenues from its content library. The company has over 6,000 video and audio titles in the library. In the first fiscal quarter of 2011, an appraisal was conducted by DOS Broadcast and Appraisal Services to determine an accurate value of the content owned by the company. DOS has estimated that the value of the library exceeds $128 million.
Based in Clearwater, Florida, ValCom, Inc. is a diversified, fully integrated, independent entertainment company that has been in operation since 1983. ValCom, Inc., through its operating divisions and subsidiaries, creates and operates full service facilities that accommodate film, television and commercial productions with its four divisions comprised of television and film production, broadcasting (My Family TV Network), distribution, and live theatre.
