IRVINE, Calif., March 31, 2014 /PRNewswire/ -- Capstone Financial Group, Inc. (OTCBB: CAPP), today provided preliminary information on certain aspects of its first quarter 2014 financial performance. Capstone Financial Group, Inc. now estimates that it has exceeded expectations and achieved underlying profitability in the first quarter 2014, as company investments delivered better than expected results and lower than expected operating expenses.
The company also estimates that it has exceeded expectations for the first quarter 2014, delivering record underlying profits in its second full quarter of operations. This was due to:
- Strong performance in higher margin business categories
- Better than expected cost management
- Capstone Financial Group, Inc. non-IFRS operating income for the first quarter 2014 now expected to be considerably higher
"We are pleased that Q1 2014 was a solid quarter where we exceeded expectations and delivered underlying profitability and record underlying profitability in non-operating income," said Darin R. Pastor, Chairman and Chief Executive Officer of Capstone Financial Group, Inc. "We focused on our priorities while managing our costs efficiently, and delivered our best quarterly results to date."
Preliminary information indicates that the main factors include:
- Within the business, better than expected financial performance in the recognized non-recurring investment income; and lower than expected operating expenses, partially due to greater than expected cost reduction.
About Capstone Financial Group, Inc.
Capstone Financial Group, Inc. (CAPP) is an exclusive investment group headquartered in Irvine, Calif. Founded in 2013 by Chairman and Chief Executive Officer Darin Pastor, the company includes wholly-owned subsidiary Capstone Affluent Strategies. The firm's executive management team consists of leaders who have more than 100 collective years of experience in wealth management and investment banking, with a thorough understanding of clean technology and industrial growth, capital raising services concerning municipal government interests, and private placements and public offerings of corporate debt and corporate equity. For more information, visit www.capstonefinancialgroupinc.com.
Statements in this press release relating to Capstone Financial Group, Inc.'s future plans, expectations, beliefs, intentions and prospects, such as the company's ability to close the acquisition, FINRA's approval, or any perceived benefit from the proposed acquisition, are "forward-looking statements" and are subject to material risks and uncertainties. When used in this press release, the words "will," "future," "expect," "look forward to," similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Capstone Financial Group, Inc. that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this press release due to a number of risks and uncertainties. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur. All information set forth in this press release is current as of March 31, 2014. Capstone Financial Group, Inc. undertakes no duty to update any statement in light of new information or future events.
SOURCE Capstone Financial Group, Inc.