Hodgins Auctioneers Inc.

Hodgins Auctioneers Inc.

December 03, 2007 08:31 ET

Hodgins Auctioneers Reports 31 Percent Increase in Revenues

MELFORT, SASKATCHEWAN--(Marketwire - Dec. 3, 2007) - Hodgins Auctioneers Inc. (TSX VENTURE:HA) (www.hodginsauctioneers.com), a provider of professional auction services for clients across North America, is pleased to announce that Revenues for the nine month period ended September 30, 2007 increased by 31 Percent to $3,808,192.


Hodgins Auctioneers nine month year to date system sales were $48,239,295 an increase of 22.8 % over the same period last year. These system sales have generated $3,808,192 in Revenue for the company, an increase of 31% over last year. The company's net income for the first nine months is $722,302 an increase of $721,039 from 2006 when the net income for the first 9 months was $1,263. The company's income per share for the first nine months of the year was $0.08.

"We are proud to present to our shareholders and the investment community our statements for the first nine months of 2007," stated Barrie Jung, President of Hodgins Auctioneers. "The management and staff of Hodgins Auctioneers have worked very hard to increase shareholder value by increasing revenue and holding firm on expense which has translated into a fabulous bottom line."

Third quarter financials can be found at www.sedar.com.

About Hodgins Auctioneers Inc.

Headquartered in Melfort, Saskatchewan, for nearly 50 years, Hodgins Auctioneers has provided professional auction services for clients across North America and consistently ranks in the top 100 biggest companies in the Province. Hodgins is renowned for its experienced auctioneers, award-winning promotions and dependable results, resulting in a database of nearly 100,000 motivated and qualified buyers from across Canada and the United States.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives are forward-looking statements that involve various 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 form those anticipated in such statements. Important factors that could cause actual results to differ materially from expectations are exploration risks detailed herein and from time to time in the filings made with securities regulators.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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