Company News

Integrity Mutual Funds, Inc. Announces Results for Second Quarter 2003

Minot, North Dakota (Aug. 14, 2003) – Integrity Mutual Funds, Inc. (OTC Bulletin Board: IMFD), a mutual fund and financial services company, today reported net income of $5,432 for the second quarter of 2003, compared to net income of $3,098 during the same period in 2002. Diluted net income per share for the quarter ending June 30, 2003 and June 30, 2002 were $.00 (zero) per share. The company recorded net income of $86,832 ($.01 per share) for the first six months of 2003, compared to net income of $41,539 ($.00 per share) during the first six months of 2002. Effective June 26, 2003, Integrity Mutual Funds, Inc. sold its 51% ownership in Magic Internet Services, Inc., the results of which have been classified as discontinued operations.

Integrity Mutual Funds, Inc. recorded a net loss from continuing operations of $3,052 for the second quarter of 2003, compared to net income from continuing operations of $6,356 for the same period in 2002. Diluted net loss from continuing operations for the quarter ending June 30, 2003 was $.00 per share, compared to net income from continuing operations of $.00 per share. Net income from continuing operations for the first six months of 2003 was $90,498 ($.01 per share), compared to net income from continuing operations of $49,405 ($.00 per share) for the same period in 2002.

Integrity Mutual Funds, Inc. has assets under management of approximately $300 million and is publicly traded over the OTC Bulletin Board under the symbol IMFD. With its subsidiaries, ND Capital, Inc., Integrity Money Management, Inc., Integrity Fund Services, Inc., and Ranson Capital Corporation, the firm currently sponsors, manages, and advises ten mutual funds. These include an equity fund, an income fund, and state-specific tax-exempt municipal bond funds in Montana, North Dakota, South Dakota, Nebraska, Kansas, and Oklahoma. The firm also sponsors an equity fund of funds that invest in stock mutual funds managed by other firms. IMFD has previously announced plans for two additional mutual fund acquisitions totaling approximately $110 million in additional mutual fund assets. IMFD also owns Capital Financial Services, Inc., a full-service brokerage firm that specializes in providing investment products and services to independent investment representatives, financial planners, and investment advisors in parts of the Midwest and California.

Contact: Mark R. Anderson at 701/852-5292

The Integrity Funds are sold only to persons residing in the United States and are offered by prospectus only. For more complete information about any of the Integrity Mutual Funds, investors should consider the investment objectives, risks, charges and expenses of each fund carefully before investing. The prospectus includes this and other information about each fund. Investors may obtain the applicable prospectus from their financial advisor or from our website at www.integritymf.com. Please read the prospectus carefully before you invest or send money.




view all news...
Home | Contact Us | Privacy Policy | Terms of Use
© 2003-2018 Capital Financial Holdings, Inc.