SOURCE: RG America Inc.

September 07, 2005 08:00 ET

RG America Announces 2nd Quarter Profit

DALLAS, TX -- (MARKET WIRE) -- September 7, 2005 -- RG America, Inc. ("RGA") (OTC BB: RGMI) announces another profitable quarter since going public through a reverse merger in 2003. "Last quarter was the third quarter in a row for positive cash-flow as we continue to execute on our solid business model," J.E. (Ted) Rea, CEO of RGA, said. Revenues were up approximately 264% over the same period last year, while the company decreased its operating expenses over the same period. The strong revenues were primarily from restoration/remediation and construction work in the Florida Panhandle in the wake of Hurricane Ivan, which occurred this time last year.

"Currently, we are concentrating our efforts on clients in the southern states after the devastation caused by Hurricane Katrina. We have our crews diligently working to stabilize and restore our clients' buildings throughout the easternmost portion of the wake caused by Hurricane Katrina. In some cases our crews have worked around the clock battling floods, power outages, blockades and natural perils such as snakes and debris to reach our clients in trouble. It's times like these that really allow our company to show our true determination and I am very proud of our employees and the personal sacrifices they are making to get the job done," continued J.E. (Ted) Rea, CEO of RGA.

RG America is a family of companies offering construction/restoration and financial services and products primarily to the multi-family housing industry. RG Restoration, Inc. ("The Restoration Group") specializes in reconstructing multi-family and commercial properties damaged by hurricane, fire, flood, wind or hail. RG Insurance Services, Inc. ("RGIS") is a full lines insurance agency. It will be the general agency for RGA's proprietary property and casualty insurance product called PropertySMART(SM) that delivers improved service and true cost savings to the multi-family housing industry.

This release shall not constitute an offer to sell or the solicitation of an offer to buy securities to/from any person, nor shall there be any sale of these securities in any jurisdiction in which it is unlawful to make such an offer or solicitation.

A number of statements in this press release are forward-looking statements, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of products and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors described in the Company's filings with the SEC. The actual results that the Company may achieve may differ materially from any forward-looking statements due to such risks and uncertainties.

Contact Information

  • CONTACT:
    RG America, Inc.
    Kevin L. Dahlberg
    Exec.VP
    (972) 919-4774 ext. 224