CAVR News! Resources Expects Record 2020 Annu
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Posted On: 02/17/2021 9:58:38 AM
CAVR News!
Resources Expects Record 2020 Annual Revenue; Q4 2020 Revenue up 727% Quarter-over-Quarter
Press Release | 02/17/2021
CHARLOTTE, N.C., Feb. 17, 2021 (GLOBE NEWSWIRE) -- CAVU Resources, Inc. (“CAVU Resources” or the “Company,”) (OTCPK: CAVR) reported preliminary results for its fourth quarter and full year ended December 31, 2020.
Revenue for the fourth quarter is expected to total $8.03 million, up 727% from $0.97 million in the third quarter of 2020. Revenue for the full year is expected to total $10.52 million, a company record.
Net income from 2020 sales is expected to exceed $2.2 million; of which $451,000 will be recognized in 2021 as a result of the successful closing of the previously announced Toll Brothers (NYSE: TOL) deal.
In a report published by Realtor.com, Charlotte was ranked as the best housing market in the Southeast in 2021, with a predicted growth rate of 19.0%.
“The Charlotte real estate market has been on fire, as evidenced by our strong Q4 2020 results,” stated Sinacori Builders President, Russell Sinacori. “Momentum has carried into 2021, with January revenue totaling $0.96 million. In addition, our in-contract single-family homes plus previously announced JP Orleans and TRI Pointe Homes (NYSE: TPH) deals total more than $11.3 million, which would surpass our entire 2020 revenue upon closing.”
CAVU Resources’ board of directors' member, Tim Samuels, commented, “There has been no shortage of opportunity in the Charlotte and Southeast markets. Working closely with Russell to bring only the best of the best deals to the table, I am happy to announce that a multi-hundred-lot contract has been secured, with additional details to follow in the coming weeks. Furthermore, multiple promising large-scale projects have been identified in South Carolina and Florida with due diligence on-going.”
“Our real estate division has been firing on all cylinders, and I am excited to share with our loyal shareholders that there are multiple positive developments coming in the near future, including, but not limited to, a corporate re-branding (new company name, website, and stock symbol) and audited financial statements to satisfy OTCQB up-listing requirements,” added CAVU Resources CEO Bob Silver.
Resources Expects Record 2020 Annual Revenue; Q4 2020 Revenue up 727% Quarter-over-Quarter
Press Release | 02/17/2021
CHARLOTTE, N.C., Feb. 17, 2021 (GLOBE NEWSWIRE) -- CAVU Resources, Inc. (“CAVU Resources” or the “Company,”) (OTCPK: CAVR) reported preliminary results for its fourth quarter and full year ended December 31, 2020.
Revenue for the fourth quarter is expected to total $8.03 million, up 727% from $0.97 million in the third quarter of 2020. Revenue for the full year is expected to total $10.52 million, a company record.
Net income from 2020 sales is expected to exceed $2.2 million; of which $451,000 will be recognized in 2021 as a result of the successful closing of the previously announced Toll Brothers (NYSE: TOL) deal.
In a report published by Realtor.com, Charlotte was ranked as the best housing market in the Southeast in 2021, with a predicted growth rate of 19.0%.
“The Charlotte real estate market has been on fire, as evidenced by our strong Q4 2020 results,” stated Sinacori Builders President, Russell Sinacori. “Momentum has carried into 2021, with January revenue totaling $0.96 million. In addition, our in-contract single-family homes plus previously announced JP Orleans and TRI Pointe Homes (NYSE: TPH) deals total more than $11.3 million, which would surpass our entire 2020 revenue upon closing.”
CAVU Resources’ board of directors' member, Tim Samuels, commented, “There has been no shortage of opportunity in the Charlotte and Southeast markets. Working closely with Russell to bring only the best of the best deals to the table, I am happy to announce that a multi-hundred-lot contract has been secured, with additional details to follow in the coming weeks. Furthermore, multiple promising large-scale projects have been identified in South Carolina and Florida with due diligence on-going.”
“Our real estate division has been firing on all cylinders, and I am excited to share with our loyal shareholders that there are multiple positive developments coming in the near future, including, but not limited to, a corporate re-branding (new company name, website, and stock symbol) and audited financial statements to satisfy OTCQB up-listing requirements,” added CAVU Resources CEO Bob Silver.
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