Brighter Minds Media, Inc. announced its financial results for the fourth quarter and fiscal year ended December 31, 2006.
Increased Revenues:
Total revenue for the fourth quarter of 2006 was US$1,997,563 as compared to US$1,426,547 for the same period in 2005 representing an increase of 40%. For the fiscal year ended December 31, 2006 total revenues were US$5,010,668 as compared to US$4,075,028 for 2005 representing an increase of 23%.
Improved Financial Position:
At December 31st, 2006 the Company had $498,689 in cash and availability on its Line of Credit as compared to $0 in cash and no availability on its Line of Credit on December 31st, 2005. As of March 19, 2007 cash and availability on its Line of Credit had improved to over $1 million.
Strong Operating Performance:
"We have achieved our goal of significantly increasing our distribution for all three of our product lines. In 2006 we made the decision to slow our launch of new products so that we can invest in securing licenses and building product for 2007. In 2007 we anticipate having twice as many software and book titles and intend to launch our first five DVD games. All these products will be highly branded with the likes of Marvel, PBS Kids, Care Bears, Nancy Drew, Jurassic Park, Brainquest and Cartoon Network" said Sam Ifergan, the Chairman and CEO of the Company. He added that "we believe we have the financial resources and a strong product and distribution platform to enable growth in 2007 and beyond".-- www.cnxmarketlink.com
Comment and add to the story without registration, but keep the comments meaningful please. Links are not accepted.
