HICKORY, N.C., March 30, 2011 /PRNewswire/ -- Dale Jarrett Racing Adventure, Inc. (OTC Bulletin Board: DJRT), a "Full Throttle" lifetime experience company, today released results of its 2010 fiscal year ending December 31st, marking the company's return to profitability and representing one of the best years in the company's 12 year history. This included a return to profitability with a net profit of $73,447 or $.003 per share. Adding back in depreciation and interest, the company realized EBITDA of $211,548, which approaches $.01 per share. Additionally, Dale Jarrett Racing Adventure set a new revenue record in surpassing the $3 million mark for the first time. This represents a 9.4% increase in revenues over 2009. At the same time, we reduced our G&A expenses by 1% while realizing meaningful increases in our margins. These figures reflect our ongoing commitment toward increasing corporate efficiencies along with sales.
Commenting on the report, CEO Tim Shannon said, "I'm particularly pleased to be announcing Dale Jarrett Racing Adventure's return to profitability. While navigating the recession over the past few years presented challenges, it also created the environment for everyone within the company to hone their skills and, in the end, to bring the company to a higher level of productivity and efficiency.
Our goals for 2011 are twofold. First we will continue to grow organically and increase both revenues and profits by providing the highest quality driving adventure available anywhere. At the same time, we continue to work diligently to bring meaningful new brandable opportunities for expansion beyond the Racing Adventure and look forward to being able to release information in that regard in the very near future. We're further pleased to note that, since our third quarter announcement of positive earnings being established and growing, our shareholders were rewarded as the market price for our shares began to reflect our improved fundamentals. We look forward to continued improvement as the investing community has an opportunity to review our 10K and then consider the significance of future announcements."
Certain of the statements contained in this press release contain forward-looking statements that involve 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.
For additional information call Tim Shannon @ 1-888-467-2231.
SOURCE Dale Jarrett Racing Adventure, Inc.