CHICAGO--(BUSINESS WIRE)--Ulysses Diversified Holdings Corporation (PINKSHEETS: UDHC) today reported its financial results for the first quarter, ending March 31, 2011. JNS Power & Control Systems, Inc. reported revenues of $323,609, including net profits of $107,596 or 33%. S&H Leasing, Inc. reported revenues of $25,133 with net profits of $10,138 or 40%.
“We are certainly pleased with our strong first quarter results, which have exceeded our expectations. Contract backlog, robust Q1 sales, and new client projects have combined to deliver exciting top and bottom line growth,” said Jean Howe, President and Chief Executive Officer. “Going forward, we are seeing increasing confidence from our customer base as general economic conditions improve. The Company is focused on continued growth as we continue to reduce our operating expenses for sustainable profitability.”
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.