Alliance Distributors Holding Inc. Reports Third Quarter Financial Results; Company Operated Profitably in the Quarter; Sales Increased 95.9% Over Third Quarter 2004.COLLEGE POINT, N.Y. -- Alliance Distributors Holding Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : ADTR ADTR A Day to Remember (band) ADTR Academy of Dance Therapists Registered ADTR Adapter ), a distributor of interactive video games See video game console. and gaming products, today announced financial results for the third quarter and nine months ended September September: see month. 30, 2005. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight in the third quarter increased 95.9% to $13.6 million compared to $6.9 million in the third quarter of 2004. Net income was $222,223, or $0.00 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, compared to a net loss of $149,100, or $0.00 per share, in the 2004 quarter. Net sales for the nine months ended September 30, 2005, increased 81.6% to $36.7 million, compared to $20.2 million for the same period in 2004. Net loss for the nine months was $243,260, or $0.01 per share, compared to a net loss of $66,575, or $0.00 per share, in the 2004 period. Jay Gelman, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "We are pleased with the revenue growth and meaningful profitability that we achieved in the third quarter." For additional information see the Company's SEC Report on Form 10QSB QSB Fading QSB Qualified Small Business (IRS category) QSB Queen Street Backpackers (Auckland, New Zealand) QSB Quality System Basics QSB Qualified Supplemental Benefit QSB Quantum Singleton Bound for the period ended September 30, 2005. About Alliance Distributors Holding Inc. Alliance Distributors Holding Inc. (www.alliancedistributors.com), which does business as Alliance Distributors, is a full service wholesale distributor of interactive video games and gaming products for all key manufacturers and 3rd party publishers in the video game industry. Alliance Distributors offers comprehensive support on Playstation 2, PS1, PSP (PlayStation Portable) See PlayStation. , X-Box, Game Cube, Nintendo DS “NDS” redirects here. For other uses, see NDS (disambiguation). The Nintendo DS (sometimes abbreviated NDS or DS) is a handheld game console developed and manufactured by Nintendo, which was released in 2004 in Canada, U.S., and Japan. and GameBoy systems, peripherals and software titles. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Certain of the above statements contained in this press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which are intended to be covered by the safe harbors created thereby investors are cautioned that all forward-looking statements involve risks and uncertainty. Actual results, events and circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or (including future performance, results and trends) could differ materially from those set forth in such statements due to various factors, risks and uncertainties, including but not limited to, risks associated with technological change, competitive factors and general economic conditions. The Company has no duty and undertakes no obligation to update such statements.
ALLIANCE DISTRIBUTORS HOLDING INC.
Statements of Operations (Unaudited)
For the three and nine months ended September 30, 2005 and 2004
Three months ended Nine months ended
September 30, September 30,
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2005 2004 2005 2004
----------- ----------- ----------- -----------
Net sales $13,565,841 $ 6,924,181 $36,679,480 $20,200,199
Cost of goods sold 12,034,847 5,966,406 32,835,637 17,363,624
----------- ----------- ----------- -----------
Gross profit 1,530,994 957,775 3,843,843 2,836,575
Selling, general and
administrative
expenses 1,187,227 980,454 3,739,033 2,704,112
----------- ----------- ----------- -----------
Income (loss) from
operations 343,767 (22,679) 104,810 132,463
Interest expense 119,198 20,444 339,621 81,052
----------- ----------- ----------- -----------
Income (loss) before
provision for income
taxes 224,569 (43,123) (234,811) 51,411
Provision for income
taxes 2,346 -- 8,449 11,167
----------- ----------- ----------- -----------
Net income (loss) 222,223 (43,123) (243,260) 40,244
Preferred stock
dividends -- 105,977 -- 106,819
----------- ----------- ----------- -----------
Net income (loss)
available to common
stockholders $ 222,223 $ (149,100) $ (243,260) $ (66,575)
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Net income (loss)
available to common
stockholders per
share - Basic $ .00 $ .00 $ (.01) $ .00
=========== =========== =========== ===========
Net income (loss)
available to common
stockholders per
share - Diluted $ .00 $ .00 $ (.01) $ .00
=========== =========== =========== ===========
Weighted-average
common shares
outstanding-Basic 46,417,098 45,572,098 46,417,098 31,771,112
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Weighted-average
common shares
outstanding-Diluted 49,122,008 45,572,098 46,417,098 31,771,112
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