SOURCE: Rubicon Financial Incorporated

Rubicon Financial Incorporated

May 20, 2011 15:45 ET

Rubicon Financial Announces Results of Operations for March 31, 2011, Including Net Operating Income Increase of Over 350%

Revenues Increase 24% Over Prior Year Period

IRVINE, CA--(Marketwire - May 20, 2011) - Rubicon Financial Incorporated (PINKSHEETS: RBCF) is pleased to announce its financial and operating results for the first quarter ended March 31, 2011.

For the three months ended March 31, 2011, Rubicon generated approximately $4.4 million in revenues, compared to approximately $3.5 million for the quarter ended March 31, 2010, an increase in excess of 24%.

In addition, Rubicon produced a net operating income for the first quarter of 2011 of $341,303, a 356% increase over the net operating loss of $133,091 for the same quarter in 2010.

"Our continued focus on providing alternative investment products through Newport Coast Securities and the recruitment of additional registered representatives has allowed us to repeatedly increase revenues on a quarter-over-quarter basis," stated Joseph Mangiapane, Jr., CEO of Rubicon. "This was the most profitable quarter we have had since transitioning into the financial services industry in late 2007."

During the three months ended March 31, 2011, Rubicon's operating expenses increased by only 11% to approximately $4.0 million, compared to approximately $3.6 million for 2010. This was primarily a result of increased administrative and compliance staffing to support anticipated growth in registered representatives.

About Rubicon Financial Incorporated:
Rubicon Financial Incorporated is a publicly-traded financial services holding company. Rubicon has the capability of providing the clients of its various wholly owned subsidiaries with convenience, low pricing and enhanced customer service. Rubicon is located in Orange County, California, in the center of one of the nation's wealthiest regions, as well as one of California's most populated and affluent business communities. Rubicon currently or in the future intends to offer a diverse number of financial services and products, including but not limited to: insurance; retail brokerage services; securities market making; investment banking for small to midsized companies; and commodity trading and marketing services. Each respective financial service or product is offered by fully licensed professionals employed through wholly owned subsidiaries of Rubicon.

Readers are urged to review Rubicon's Form 10-Q for the quarter ended March 31, 2011, available on the SEC's website (www.sec.gov), for a discussion of Rubicon's results of operations and review the first quarter of 2011 financial statements.

Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: any implied or perceived benefits resulting from the Rubicon's operations; Rubicon's and its subsidiaries business prospects; the ability of Rubicon to execute its business plan as a diversified financial services company; the successful acquisition of other financial services companies; any other effects resulting from the information disclosed above; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated.

Important factors that could cause actual results to differ materially from the forward-looking statements Rubicon makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the SEC. Rubicon undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contact Information

  • For further information contact:
    Joseph Mangiapane, Jr.
    CEO
    888-668-9567
    Email Contact