CreditRiskMonitor: Record Sales and Cash Flow for 2005.VALLEY COTTAGE, N.Y. -- CreditRiskMonitor (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CRMZ) announced today record revenue and cash flow for the year ended December December: see month. 31, 2005. 2005 operating revenues operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. increased 15% to $3.84 million, which compares favorably fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. with the 10% increase reported last year. Jerry Flum, 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. , stated, "Our operating results for the last several years were negatively impacted by expenses incurred in connection with the Company's litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. proceedings which were favorably resolved in 2005. We're using the cash proceeds from the settlement to invest in our business - building new content into our product and launching our first marketing program. Our results also reflect improving business fundamentals business fundamentals The general background within which an economy operates including earnings, sales, wage rates, taxes, and inflation. Improving business fundamentals are generally viewed as bullish for stocks, although stock prices at any given point . Excluding the costs of the litigation and the settlement proceeds received, we had positive cash flow of $251,000 in 2005 versus $8,000 in 2004."
CREDITRISKMONITOR.COM, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2005 AND 2004
2005 2004
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Operating revenues $3,841,833 $3,346,572
Operating expenses:
Data and product costs 1,113,602 1,042,912
Selling, general and administrative
expenses 2,563,063 2,071,355
Litigation related legal fees and expense 116,140 236,691
Depreciation and amortization 66,302 67,721
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Total operating expenses 3,859,107 3,418,679
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Loss from operations (17,274) (72,107)
Other income 31,492 7,729
Gain on settlement of litigation 1,100,000 --
Interest expense (66,091) (74,271)
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Income (loss) before income taxes 1,048,127 (138,649)
Provision for state and local income taxes 2,058 381
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Net income (loss) $1,046,069 $ (139,030)
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Net income (loss) per share of common stock:
Basic and diluted $ 0.14 $ (0.02)
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CreditRiskMonitor (http://www.crmz.com) is an Internet-based financial information service, designed to save time for busy corporate credit professionals. The service provides comprehensive commercial credit reports covering public companies world-wide and includes detailed financial statements, analysis and trend reports, credit scores, company background information, Standard & Poor's ratings, and peer analyses. Plus, it includes public record filings and trade payment data on millions of U.S. companies. The service also provides continuous news monitoring News monitoring, or the news monitoring industry, provides government agencies, corporations, public relations professionals, and other organizations access to news information created by the media. that keeps customers up to date on events affecting the credit worthiness of companies, including financial statement updates, SEC filings, S&P rating changes, and credit-relevant news stories and press releases. 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. 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 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. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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. |
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