Kent Financial Services Announces Year End Results

• Press Release
• Source: KENT FINANCIAL SERVICES, INC.
• On 11:08 am EDT, Thursday March 26, 2009

FAR HILLS, NJ--(MARKET WIRE)--Mar 26, 2009 -- KENT FINANCIAL SERVICES, INC. (the "Company") (NasdaqCM:KENT - News) recorded a net loss of $296,281 or $.11 per share for the year ended December 31, 2008, compared to a net loss of $551,641 or $.20 per share for the year ended December 31, 2007. Total revenues for the year ended December 31, 2008 were $713,392, compared to $1,239,068 for the year ended December 31, 2007.

Related Quotes

Symbol	Price	Change
KENT	1.47	0.00

{"s" : "kent","k" : "c10,l10,p20,t10","o" : "","j" : ""}

The Company has 2,759,293 shares outstanding.

This Press Release contains forward-looking statements which may involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results and performance in future periods to be materially different from any future results or performance suggested by these statements. Kent cautions investors not to place undue reliance on forward-looking statements, which speak only to management's expectations on this date. The per-share earnings in the text of this news release are fully diluted earnings per share.

 
              KENT FINANCIAL SERVICES, INC. AND SUBSIDIARIES
                  CONSOLIDATED STATEMENTS OF OPERATIONS


                                                  Year Ended December 31,
                                                  ------------------------
                                                      2008         2007
                                                  -----------  -----------
Revenues:
  Seminar fees                                    $   285,643  $   480,612
  Interest revenue                                    300,274      612,858
  Investing gains                                      36,180        6,574
  DVD Sales                                             3,273          922
  Other income                                         88,022      138,102
                                                  -----------  -----------
    Total revenues                                    713,392    1,239,068
Expenses:
  General and administrative                        1,104,337    1,804,717
  Write off capitalized software costs                              37,764
  Write off goodwill                                                90,055
                                                  -----------  -----------
    Total expenses                                  1,104,337    1,932,536
Loss before income taxes, minority interest
 and extraordinary gain                              (390,945)    (693,468)
Provision for income taxes                             (2,140)      (1,883)
                                                  -----------  -----------
Loss before minority interest and extraordinary
 gain                                                (393,085)    (695,351)
Minority interest in subsidiaries losses               87,966      143,710
                                                  -----------  -----------
Loss before extraordinary gain                       (305,119)    (551,641)
Extraordinary gain due to purchase of
 subsidiary stock                                       8,838
                                                  -----------  -----------
Net loss                                             (296,281)    (551,641)
Other comprehensive income (loss):
  Unrealized loss on available for sale
   securities                                         (43,149)      (2,675)
                                                  -----------  -----------
Comprehensive loss                                $  (339,430) $  (554,316)
                                                  ===========  ===========
Basic and diluted net loss per common share:
Loss per share before extraordinary gain          $     (0.11) $     (0.20)
Extraordinary gain                                          -            -
                                                  -----------  -----------
Net loss per share                                $     (0.11) $     (0.20)
                                                  ===========  ===========
Weighted average number of common shares
 outstanding                                        2,784,235    2,794,146
                                                  ===========  ===========






              KENT FINANCIAL SERVICES, INC. AND SUBSIDIARIES
                   CONDENSED CONSOLIDATED BALANCE SHEET
                          AS OF DECEMBER 31, 2008



ASSETS

Cash and cash equivalents                                      $  1,990,753
Short-term investments                                           10,090,292
Securities owned                                                     70,450
Accounts receivable                                                  55,895
Property and equipment                                               21,618
Other assets                                                         30,769
                                                               ------------

    Total assets                                               $ 12,259,777
                                                               ============

LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities                                                    $  1,012,314
Minority interest in subsidiaries                                 4,965,816
Stockholders' equity                                              6,281,647
                                                               ------------

    Total liabilities and stockholders' equity                 $ 12,259,777
                                                               ============

     Direct Inquiries To:
     Paul O. Koether
     Chairman
     (908) 766-7221