SOURCE: Genesis Financial, Inc.

February 07, 2007 11:57 ET

Genesis Financial, Inc. Reports Calendar Year 2006 Financial Results

SPOKANE, WA -- (MARKET WIRE) -- February 7, 2007 -- Genesis Financial, Inc. (PINKSHEETS: GFNL) announces calendar year 2006 financial results.

Genesis Financial, Inc. reported a financial statement net income of $462,595 or $.14 per basic pre-split common share outstanding for the calendar year as compared to $195,381 or $.12 per share for calendar year 2005.

Company revenues increased to $1,770,684 from $1,025,704 or 73% while operating expenses increased to $1,153,622 from $830,323 or 39%. Federal income tax increased from zero because of net operating losses to $154,467 for calendar year 2006.

Genesis Financial, Inc. had a two-for-one forward stock split effective January 4, 2007, which increased the outstanding common shares to 6,511,276.

This release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 which can be identified by the use of forward looking terminology such as "may," "will," "intend," "expect," "anticipate," "estimate," "continue," or the negatives thereof of comparable terminology. The Company's actual results could differ materially from those anticipated in such forward looking statements as a result of certain factors, including, but not limited to, economic conditions, product demand, competitive products and pricing, and/or state and federal regulations.

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    John Coghlan