Kesselring Holding Corp. (OTCBB: KSSH) recently announced a 200 percent increase in revenue for the six-month period ended March 31, 2007, as compared to the same period in 2006.Ken Craig, Kesselring CEO, said the revenue hike from $2.2 million to $6.7 million was largely due to the acquisition of the King Group on July 1, 2006.
“Our ongoing operating performance improved substantially compared with the previous year’s six months as a result of strong organic growth and the acquisition of the King Brothers Woodworking Inc. and King Door and Hardware Inc.,” Kesselring explained in a press release.
In addition, the company also announced that its board of directors and shareholders approved a 19.5 for 1 forward split of the common stock of Kesselring. The split was implemented on June 29, 2007, and stockholders will be entitled to 19.5 shares of common stock for each share of held on that date.
“This forward stock split is intended to lay the groundwork for the anticipated growth of the company,” Kesselring said in a written statement. “It is also part of our ongoing effort to broaden ownership and increase awareness of our company.”
Kesselring has been around since 1976, and currently has offices in Florida and Washington State -but the long-term goal of the company is to become the premier restoration, building, and construction products manufacturer on a national level.
The company plans to carry out this goal, expanding the company by acquiring other companies that enables it to provide a full range of cost-effective products and services. So far the plan has worked, as Kesselring is now the parent company of five subsidiaries that boast over 31 years in the construction-related business in Braden, Fla. and Yakima, Wash.
Looking toward the future of the business, Kesselring changed its name on June 13, 2006, from Offline Consulting Inc., and changed its ticker symbol from OFLC. In addition, Kesselring appointed Cliff Wildes as chairman, replacing Craig, who is now company CEO.
Wildes brought 25 years of executive management experience to the table and agrees that acquisition growth will be the key to the company’s success.
“Our mission is to grow shareholder equity by capitalizing on organic and acquisition growth,” Wildes said.