Message #12 From:
NewsBot Date: December 28, 2006 09:28:00 AM
CLSI News Clancy Systems International, Inc. Reports Year End Profits
DENVER--(BUSINESS WIRE)--Clancy Systems International, Inc (OTCBB:CLSI), a leading developer of
parking enforcement solutions, announces it had a profitable year for
the year ended September 30, 2006. In the Company's year-end filing with
the Securities and Exchange Commission on form 10-KSB, the company
reports a 52% increase in net revenue over the prior year. The company
has expanded many of its parking-related service programs including
Park-by-Phone and Remit-online. The company has also added new clients
during the reporting period in the United States and Puerto Rico, for
its wholly owned subsidiary Urban Transit Solutions.
In further news, the company has commenced a stock repurchase program.
Under Rule 10b-18, the Company will regularly repurchase shares of its
common stock through the open market. The Company believes the share
repurchase should improve share value. Clancy Systems International,
Inc. merged with an existing publicly traded company, Oxford Financial,
Inc. in February 1987. The Oxford IPO was sold as units of stock (1
share plus 3 warrants).
