HICKORY, N.C., April 29, 2013 /PRNewswire/ -- Dale Jarrett Racing Adventure, Inc. (OTCQB: DJRT), a "Full Throttle" lifetime experience company, has released their Annual Report for the fiscal year ending December 31, 2012. According to the report, 2012 revenues rose 21% to $3,481,607 up from $2,875,601 in 2011. Additionally, while the Company opened a second operating hub last February, we still achieved a 1% reduction in General and Administrative expenses for the year. The complete report can be obtained by visiting the company's website at http://www.RacingAdventure.com.
Commenting on the year, CEO Tim Shannon said, "Overall, 2012 was a good year for Dale Jarrett Racing Adventure. We confirmed that we can expand into new markets and gain significant market share by opening remote hubs and adding to our fleet of NASCAR style race cars and that we can accomplish this objective without increasing our G&A. This was one of our primary objectives for 2012 and this experience gives us the confidence we can successfully implement our expansion into exotic car racing in a similar fashion.
"Our goals for 2013 follow upon this success. In addition to growing organically and increasing revenues and profits by providing the highest quality driving adventure available anywhere, we will focus on capturing greater market share by establishing new remote hubs in strategically advantageous locations. We're also in the process of launching an exotics division that will open an entirely new vertical market and generate significant revenues and profits from within our current geographic markets and beyond. By continuing to maintain strong fiscal controls as we expand, we can foresee continued revenue growth and greater profitability.
"At the same time, we continue to explore other business opportunities for expansion beyond the Racing Adventure industry. Our first commitment remains with the best interest of our shareholders. In this continually evolving economy we are constantly on the lookout for emerging markets that could support our overarching goal of maximizing long term shareholder value."
About Dale Jarrett Racing Adventure
The Dale Jarrett Racing Adventure offers racing fans the opportunity to race an authentic race car on a major racetrack. Our racing "adventurers" enjoy a life-defining experience. They receive vital training from top racing instructors, wear real racing suits and safety gear, and pilot a race car that was once driven by one of the racing greats. Hand signals from the instructor teach you to race like the pros. We surpass "follow-the-leader" approaches and teach guests to race like NASCAR drivers, find the line, draft, and pass for optimum fun. Our 100% safety record and numerous celebrity endorsements testify to the excitement and unforgettable thrill of our racing adventure.
Certain of the statements contained in this press release contain forward-looking statements that involves risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Dale Jarrett Racing Adventure, Inc. has based these forward-looking statements on its current expectations and projections about future events, based on the information currently available to it. The forward-looking statements contained in this press release may also include statements relating to Dale Jarrett Racing Adventure's anticipated financial performance, business prospects, new developments, strategies and similar matters. Dale Jarrett Racing Adventure disclaims any obligation to update any of its forward-looking statements, except as may be required by law.