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Business Services Industry
Life Partners Expected to Announce Increase in Revenues and Net Income in Conference Call
Business Wire, March 26, 2008
WACO, Texas -- Life Partners Holdings, Inc. (NASDAQ GM: LPHI), parent company of Life Partners, Inc., today announced it will hold a conference call to discuss its preliminary operating results for its fiscal year ended February 29, 2008. The company expects to report a 143% increase in revenues and a 431% increase in net income for its 2008 fiscal year over the same period of the prior year. For the fiscal year, Life Partners expects to report revenues of $72.5 million compared to $29.8 million for its 2007 fiscal year. Net income for the current fiscal year was $19.1 million, or $1.59 per share compared with net income of $3.6 million or $0.31 per split adjusted share during the previous year.
During the conference call, management will discuss the following topics:
* A Different Kind of Financial Services Company - Life Partners is a leader in the emerging asset class known as "life settlements" and is substantially different from other financial service companies. Because life settlements are alternative investments not correlated to stock market performance or other economic factors, our revenues and net income are likewise uncorrelated by downturns in the traditional markets. To the contrary, as traditional investment strategies have disappointed investors, there has been a greater interest in alternative investments such as life settlements.
* Bad Economic News is Good News for Life Partners - Management believes the current economic turmoil will continue for the foreseeable future and that Life Partners is well positioned to take advantage of the increasing interest in alternative investments due to the uncorrelated nature of life settlements.
* No Leverage Required - Life Partners' business model does not rely on leverage. Consequently, the credit crisis which has adversely affected the earnings and liquidity of other financial services companies has had no adverse impact on Life Partners. In fact, while increasing revenues 143% over last year and increasing earnings 431% over last year, the company eliminated about $2 million of debt.
Among the key financial results which LPHI expects to report are:
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The conference call will be held TODAY, March 26 at 11:00 A.M. Eastern Time / 10:00 Central Time. Participants will include Brian Pardo, Chairman and CEO of Life Partners Holdings, Inc., and R. Scott Peden, President of Life Partners, Inc.
To participate in the conference call, please dial 866-901-2585 or 404-835-7099 approximately 10-15 minutes prior to the time the call is scheduled to begin. All participants will need to provide the operator their first and last name and advise whether they are a shareholder.
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Life Partners is the world's oldest and one of the most active companies in the United States engaged in the secondary market for life insurance, commonly called "life settlements." Since inception Life Partners has completed over 50,000 transactions for its worldwide client base of over 18,000 high net worth individuals and institutions in connection with the purchase of over 5,700 policies totaling over $1 billion in face value.
Safe Harbor - This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. The statements in this news release that are not historical statements, including statements regarding future financial performance, the market for our services, and projected total business volume, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from such statements. For information concerning these risks and uncertainties, see our most recent Form 10-KSB. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
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