UC Asset Expected to Report $0.03/share Net Profit for 2023

Rhea-AI Summary

UC Asset LP (UCASU) expects to report $190,000 of net income, or $0.03 per share, for 2023. The company has a history of profitability, with net profits in most fiscal years. Despite a loss in 2022 due to economic changes, it plans to buy back shares.

ATLANTA, April 11, 2024 /PRNewswire/ -- UC Asset LP (OTCQB: UCASU) announces today that the company is expected to report approximately $190,000 of net income, or, $0.03 per share, for the fiscal year of 2023, based on its unaudited financial statements.

The final results may vary subject to independent auditing. However, the company believes that there should be no substantial change, based on its history of auditing.  

The company has been reporting net profits for most fiscal years since its incorporation. It reported net profits of $0.02 per share for the year 2020 and $0.12 per share for the year of 2021. However, it suffered a net loss for the fiscal year of 2022, which the management attributed to the changed economic environment, including the interest rate hike.

The company has previously committed to use a major part of its net income to buy back shares.  

About UC Asset LP

UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies.  For more information about UC Asset, please visit: www.ucasset.com 

Disclaimer:

This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.

For More Information Contact: IR@UcAsset.com; +1 470-475-1035

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SOURCE UC Asset LP

FAQ

What is UC Asset LP's expected net income for 2023?

UC Asset LP (UCASU) expects to report approximately $190,000 of net income for the fiscal year of 2023.

What caused UC Asset LP to suffer a net loss in 2022?

UC Asset LP attributed its net loss in 2022 to the changed economic environment, including the interest rate hike.

What is UC Asset LP's plan for its net income?

UC Asset LP plans to use a major part of its net income to buy back shares.