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Online company
reports earnings
Las Vegas-based DBT Online Inc. said revenues were $18.7 million for the year ended Dec. 31, a 132 percent increase from $8 million in 1995.
Much of the increase is attributed to DBT's acquisition of Patlex in August.
Net income for 1996 was $519,400 or 8 cents a share, compared with a loss of $1.2 million, or 27 cents a share, for the prior year.
For the fourth quarter ended Dec. 31, revenues were $6.2 million, up from $2.5 million. Net income for the quarter was $68,700, or 1 cent a share, compared with a loss of $261,700, or 5 cents, for the year-ago quarter.
In January, Thomas Simpson and Timothy Leonard joined the company as chief operating officer and chief financial officer, respectively. They held the same positions at GMIS Inc. in Malvern, Penn., a software developer serving the health care industry.
DBT Online is an electronic information content provider furnishing its customers online, immediate access to data derived from public records. It was established on Aug. 20 as a result of the reorganization of Patlex Corp. and a merger with Database Technologies Inc.
Cyber company
formed in Las Vegas
Cyber Information Inc., a Nevada corporation headquartered in Las Vegas, was formed in January 1996 and went public in April, raising $851,000 in its initial public offering. It trades on Nasdaq's Bulletin Board under symbol CYIF.
David Zussman, president and chief executive officer, received 8.5 million restricted shares, of which about 3 million were distributed to advisors and strategic partners.
Cyber Information's main business was originally conceived as an Internet, Web client presence provider involved in creating and hosting state-of-the-art full multimedia color websites.
In addition, Cyber Information can produce radio and television commercials and infomercials, place media buys and provide investor and consumer leads to clients.
Nevada Power
securities rated BBB
Nevada Power Co.'s $121.25 million quarterly income preferred securities, maturing in 2037, are rated BBB by Fitch Investors Service.
Proceeds from the securities will be used to purchase newly issued junior subordinated debentures from Nevada Power, which will use the funds for general corporate purposes, including the possible purchase of preferred stock, capital expenditures, working capital or to reduce short-term debt.
Additionally, the outstanding Nevada Power first mortgage bonds and the Clark County secured industrial development refunding revenue bonds are affirmed at BBB-plus.
The rating primarily reflects Nevada Power's continued growth rate in both customer accounts and electricity consumption and improving price competitiveness.
Alta acquires
interest in Osceola
Henderson-based Alta Gold Co. signed an agreement with Osceola Gold Mining Co. to develop gold properties located 37 miles east of Ely.
The gold properties include 85 unpatented and five patented mining claims covering about 1,800 acres.
Initial drilling by Alta is focusing on the area around the old Gilded Age mine. Following completion of the initial drilling program, Alta has the option to become a 50 percent owner in the properties and manage the project.
Business bank plans
second location
Las Vegas Business Bank plans to establish a second location on the southeast corner of Jones Boulevard and Twain Avenue. The 26,000-square-foot bank building will have professional offices on the second floor.
It is expected to be completed by January but the bank intends to start operations in a temporary building in April. The bank increased its assets by 39 percent in the first two months of the year to $47 million, according to Al Alvarez, bank president.
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