ABZT Ablaze Technologies Inc (CE)

Ablaze Technologies, Inc. (OTC:ABZT), a results oriented internet marketing company, announced today its second quarter sales and earnings for the previous quarter ending June 30, 2006. Gross Revenue for the second 3 month period was $4,198,261, down from $5,021,552 the previous quarter. Total revenue for the six month period was $9,219,813. Net income for the second quarter was ($396,135) or ($0.005) per share, down from $1,086,217 or $0.014 the previous quarter. Net after-tax income for the six month period was $748,535 or $0.0096 on 77,500,000 total issued and outstanding shares. Advertising and marketing remained the Company's biggest expense at $2,931,213, up sharply from $1,841,245 the first quarter, while general and administrative expenses were $221,335 for the second quarter. The Company maintained its debt free status with the exception of $367,422 in reserve for Federal Income Taxes and shareholders equity was $2,497,144 for the period ending June 30. Shareholders equity included $531,804 cash on hand and approximately $2,290,642 in marketable securities with $1,599,347 in unrealized investment gains, less the allowance for income tax. Darrel Uselton, CEO stated: "Our financial performance for the quarter was disappointing in comparison with the stellar results of the first quarter, but still remarkably better than overall results in the previous year. We derive a large portion of our revenues from realized gains on our portfolio of securities received in fee and trading activities, and therefore experienced significant volatility in the second quarter in line with the overall market's performance. We also experienced a significant increase in competition within the online marketing venues we so successfully pioneered in the beginning of the year, driving up our marketing expenses sharply. We are diligently working each day to manage a profitable balance between advertising outlays and the revenue it in turn generates, remaining focused on profitability over pure revenue growth. Most of the loss this quarter was sustained in late April and May, with June nearly break even, showing improvement of our management of the market volatility and increased competition we experienced throughout the quarter." Ablaze Technologies, Inc. through its OTC Services unit, operates an online investment news network, as well as provides comprehensive, non-invasive, web-based marketing services primarily to public companies, assisting in brand marketing and investor relations initiatives for those clients. The Company typically receives cash and/or marketable securities as fee income for its services, and often participates in structured financing transactions with those public company clients as well. For more information about Ablaze Technologies, or to review our complete financial statements and disclosures for the quarter, please visit our homepage at www.AblazeTech.com or on Pinksheets.com. You may also want to visit our business presentation pages at www.ProTrading.com. Please note that the Company moved to larger offices during the quarter and our new address is 1400 Broadfield, Suite 120, Houston, TX 77084 - Phone 281-579-9906; Fax 281-579-9915. Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.