$1 million, the company said.

For the year ended June 30, net income rose 20 percent to $1,010,000 on revenue of $4.2 million.

At June 30, assets and shareholder's equity were $4.6 million and $2.6 million respectively.

For the year ended June 30, expenses were $3.3 million while investment income was $89,105.

Share earnings, annualised for comparison purposes, increased to 56 cents from 46 cents, the company said.

Other 199 4/1995 full year comparisons to were not highlighted in a five year results' recap as the company last year changed its year-end to June 30 from September 30.

But in the three quarters prior to the most recent fiscal year, Hemisphere reported total profit of $626,310 on revenue of $2.48 million.

The recap also showed steady income and revenue growth since 1990. In that time, annual profit, revenue as well as earnings per share, have doubled.

Expenses have also doubled.

Hemisphere Management Ltd., now a subsidiary of Hemisphere Group Ltd., was originally founded in 1981.

As part of a corporate restructuring in 1992, the management company and other companies became subsidiaries of Hemisphere Group Ltd.

The company's clients include mutual funds, investment holding companies, trading companies and trusts.

Last year, the company went public with 846,000 preferred shares offered for sale at $5 each.

The offering generated gross proceeds of $4.23 million with 350,000 earmarked for financing an expansion of the firm's Cayman operations.

The company's annual general meeting is slated October 17.