|
FOR IMMEDIATE
RELEASE
AMEX: WOC
Wilshire
Enterprises, Inc. Announces
Delay in Filing of 2006 10-K
NEWARK
, N.J.,
April 18, 2007 -- Wilshire Enterprises, Inc. (“Wilshire” or
the “Company”) (Amex: WOC) today announced that its Annual Report on Form 10-K for the year ended
December 31, 2006 would not be filed on a timely basis. The Company indicated that it was
taking longer than expected to finalize its 2006 financial statements. The Company expects to file the 10-K
with the SEC by April 30, 2007.
The
Company currently expects that its 2006 financial statements, when
finalized, will reflect revenues of $8.8 million (as compared to revenues
of $8.2 million for 2005), a loss from continuing operations of $1.0
million (as compared to a loss from continuing operations of $0.6 million
for 2005), net income of $2.3 million (as compared to net income of $6.9
million for 2005) and diluted net income per share of $0.28 (as compared
to diluted net income per share of $0.86 for 2005).
About Wilshire Enterprises
Wilshire is engaged
primarily in the ownership and management of real estate investments in
the
United States
including
Arizona
,
Florida
,
Texas
and
New Jersey
.
FORWARD-LOOKING STATEMENT:
The
non-historical statements in this press release (including the
anticipated 2006 financial information concerning the Company) are
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are
subject to several risks and uncertainties that could cause actual
results to differ materially from such statements. Such risks and
uncertainties include uncertainties inherent in any analysis of business
transactions, including the impact of market, economic and competitive
conditions on the Company and others, as well as other risks and
uncertainties disclosed in the Company's 2005 Form 10-K filed with the
Securities and Exchange Commission.
Company
Contact: Sherry Wilzig Izak,
Chairman, 201-420-2796
Agency
Contact: Neil Berkman, Berkman
Associates, 310-826-5051
|
