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Wednesday, May 21, 2008

2008 First Quarter Notes:

* Revenues increased 93.9% to $5,404,083

* Pre-Tax income rose 87% to $218,923 from $117,311

* Reported Net Income increased 121% to $218,923 from $117,311

* Reported EPS was up 120% to $0.11

* Taxes were negligible in both periods.

The GeoTeam made the following adjustments to reported financials:

* Added back $110,00 of one time non-cash charges for 2008 or EPS of $0.05

* Applied a standard tax rate.

These adjustments yield:

* Net Income up 180% to $210,510 compared to $75,079

* EPS of $0.10 compared to $0.04

* Annualized Return on Equity of 19.7%

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Monday, May 19, 2008

December Year 2007 Financial Notes:

* Revenue increased 6.3% to $12.136 million from $11.409 million.

* Net income decreased to $575,674 from $969,429.

* EPS was $0.28 per share compared to $0.48 per share.

* Operating Margins were 5.7% compared to 10.5%.

* Outstanding shares: 2,047,363

* The company had tax benefits in 2007 and 2008.

Adjusting financials for a standard tax rate yields:

* Net income of $326,366 compared to $595,514

* EPS of $0.16 compared to $0.29

* Return On Equity of 8.5%

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