FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Online Vacation Center Holdings Corp. (OTCQX: ONVC), a Florida holding company, focused on building a network of diversified vacation marketing entities with a wide range of travel products that can be cross-sold to an extensive customer base, announced it has qualified and is now trading on the OTCQX® Best Market, operated by OTC Markets Group.®
The OTCQX® Best Market is reserved for established, investor-focused U.S. and global companies that meet high financial standards, provide timely news and disclosure to investors, and are sponsored by a professional third-party advisor, Legal and Compliance, LLC.
Stephen Rudner, President of Online Vacation Center Holdings Corp. stated: “Upgrading to the OTCQX® Best Market from the Pink® market demonstrates our commitment to providing financial transparency and liquidity to our shareholders and prospective shareholders. This upgrade, our recent increase in annual dividend, and our shareholder benefit program are all initiatives that work towards providing value to our shareholders.”
Key Highlights for Online Vacation Center Holdings Corp. comparing financial results from 2016 to 2015 are as follows:
- Increased Cash Balances by 19.4% to $7,955K as of December 31, 2016
- Increased Revenue in 2016 by 12.6% to $16,085K
- Improved Net Income in 2016 by 52% to $952K
- Increased Annual Dividend Payout from $.03 / share in 2015 to $.04 / Share in 2016
- Discounts provided to participants in shareholder benefit program increased by 49.5% in 2016
- Upgraded to OTCQX® Best Market to enhance transparency, accessibility, and liquidity for shareholders
About Online Vacation Center Holdings Corp.
The portfolio of Online Vacation Center Holdings Corp. travel companies includes Online Vacation Center, one of the country's largest cruise retailers; Dunhill Travel Deals, a digital media company publishing travel deals with more than 40 partner websites and distributing vacation & cruise offers to an extensive email subscriber list; Enrichment Journeys, a developer and seller of unique river, ocean, and land vacation packages; Luxury Link, a unique online destination for inspiration and information on the world’s best destinations, luxury accommodations, and curated travel experiences, and Expedia CruiseShipCenters®, OVC, an Expedia CruiseShipCenters® franchise hosting independent travel consultants. The Company, based in Fort Lauderdale, Florida, has been in business since 1972.
Safe Harbor Statement:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in the Company's disclosure statement. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.