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News and Information Article
OVERLAND PARK, Kan., March 16 /-FirstCall/ -- Shawn Lowry,
president of Brooke Franchise Corporation, a subsidiary of Brooke Corporation
(Nasdaq: BXXX), announced selected February 2006 results.
Lowry announced that Brooke Franchise Corporation assisted franchisees in
the startup and acquisition of businesses in February in the states of
California, Colorado, Florida, Michigan, Missouri and Texas. Brooke Franchise
Corporation added six startup franchise locations, one company developed
location and one conversion franchise location in February, and received
approximately $1,461,000 in fees, consisting of $935,000 in initial franchise
fees for basic services, $200,000 for initial fees from buyers assistance
programs and $326,000 in other associated fees.
Additionally, Lowry announced Brooke Franchise Corporation received
profit-sharing commissions totaling approximately $2,400,000 from insurance
companies in February 2006. The amount of profit-sharing commissions is
important to the company because profit-sharing commissions, like initial
franchise fees, significantly impact Brooke Franchise Corporations
profitability.
Lowry also announced a decrease in same-store sales for all startup
franchises and those converted franchises in the system more than 24 months of
approximately 2.5 percent for the 12 months ending Feb. 28, 2006. Same-store
sales calculations exclude profit-sharing commissions.
Lowry also noted that Brooke Brokerage Corporation, which provides
consulting services unrelated to the franchise business, received
approximately $51,000 in non-franchise related consulting fees during February
2006.
About our company. . . Brooke Franchise Corporation distributes insurance,
financial and funeral services through a network of more than 560 franchise
locations. The Brooke organization was founded on the belief that local
business owners distribute insurance and related services more efficiently
than others if supported by a franchise system.
E-mail distribution. . . To receive electronic press release alerts, visit
the "Investor Relations" section of the Brooke Corporation Web site at
http://www.brookecorp.com and subscribe to our "E-mail Alerts" online.
This press release contains forward-looking statements. All forward-
looking statements involve risks and uncertainties, and several factors could
cause actual results to differ materially from those in the forward-looking
statements. The following factors, among others, could cause actual results to
differ from those indicated in the forward-looking statements: the uncertainty
that the Company will achieve its short-term and long-term profitability and
growth goals, uncertainties associated with market acceptance of and demand
for the Companys products and services, the impact of competitive products
and pricing, the dependence on third-party suppliers and their pricing, its
ability to meet product demand, the availability of funding sources, the
exposure to market risks, uncertainties associated with the development of
technology, changes in the law and in economic, political and regulatory
environments, changes in management, the dependence on intellectual property
rights, the effectiveness of internal controls, and risks and factors
described from time to time in reports and registration statements filed by
Brooke Corporation with the Securities and Exchange Commission. A more
complete description of Brookes business is provided in Brooke Corporations
most recent annual, quarterly and current reports, which are available from
Brooke Corporation without charge or at http://www.sec.gov .
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