VALLEY COTTAGE, NY / ACCESSWIRE / August 8, 2014 / CreditRiskMonitor (OTCQX: CRMZ) reported that revenues increased 2% and 3% to $3.00 million and $5.97 million for the 3 and 6 months ended June 30, 2014, respectively, compared to prior year periods. For the same periods, income from operations was $262,100 and $127,000, respectively, compared to $109,700 and $168,300 for the comparable 2013 periods. Cash, cash equivalents and marketable securities at the end of the six-month period increased $737,000 to $8.78 million versus the 2013 year-end balance of $8.05 million.
Jerry Flum, CEO said, "Sales growth has slowed down as the sales cycle has lengthened. In spite of this slowdown we made the decision to acquire additional data content and enhance our product offering. We realize that this will adversely impact short-term results but we expect the additional content will have a positive impact on our operating results in the long-term. Our 2nd quarter's operating results were favorably impacted by a $220,000 refund received for sales taxes previously paid on third party content, and the final $60,000 refund was received in the 3rd quarter. We are still debt free and continuing to generate strong free cash flow."
Overview
CreditRiskMonitor (http://www.crmz.com) is an Internet-based publisher of financial risk analysis and news, designed to save time for busy corporate credit and procurement/supply-chain professionals. The service offers comprehensive commercial credit reports covering over 40,000 public companies worldwide. Over 30% of the Fortune 1,000 already use CreditRiskMonitor's timely news alerts and reports that feature detailed analyses of financial statements, ratio analysis and trend reports, peer analyses, as well as the Company's proprietary FRISK(r) scores.
Safe Harbor Statement
Certain statements in this press release, including statements prefaced by the words "anticipates", "estimates", "believes", "expects" or words of similar meaning, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, expectations or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including, among others, those risks, uncertainties and factors referenced from time to time as "risk factors" or otherwise in the Company's Registration Statements or Securities and Exchange Commission Reports. We disclaim any intention or obligation to revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.
CONTACT:
CreditRiskMonitor.com, Inc.
Jerry Flum, CEO
(845) 230-3030
SOURCE: CreditRiskMonitor