CreditRiskMonitor.com's First Quarter Operating Revenues Up 56%.Business Editors FLORAL PARK Floral Park, village (1990 pop. 15,947), Nassau co., SE N.Y., on Long Island, a residential suburb of New York City; inc. 1908. It has a commercial flower industry. , NY--(BUSINESS WIRE)--April 26, 2000 CreditRiskMonitor.com, Inc. (Symbol: CRMZ) announced that 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. for the quarter ended March 31, 2000 were $427,344, an increase of 56% from 1999's first quarter operating revenues of $274,639. CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. reported a net loss of $298,083, or ($0.06) per share, for the quarter ended March 31, 2000 compared to a net loss of $358,454, or ($0.07) per share, for last year's first quarter. Included in the net loss for the first quarter of 1999 is a write-off Write-Off A reduction in the value of an asset or earnings by the amount of an expense or loss. Companies are able to write off certain expenses that are required to run the business, or have been incurred in the operation of the business and detract from retained revenues. of $134,076, representing a portion of the purchase price paid for the CreditRisk Monitor assets allocated to in-process research and development that has no probable future use. CRM recently announced that it is now monitoring public utility companies and has added two new features to its portal: "Real-Time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. Customer Service" and "Company Message Boards". "Live Person" Real-Time Customer Service puts each CRM subscriber subscriber, n the person, usually the employee, who represents the family unit in relation to the prepayment plan. Other family members are dependents. Also called certificate holders or enrollees. a click away from an interactive live chat with a CRM Customer Service Representative. CRM subscribers now also have access to company specific message boards for each of the more than 9,000 companies in CRM's database where subscribers can post messages about their experience with a specific public customer, as well as read messages from other vendors who sell to this public company. CreditRiskMonitor.com is an Internet-based financial information analysis and news service designed for corporate credit professionals whose portal web site is www.my.creditriskmonitor.com. CRM competes with The Dun & Bradstreet Brad·street , Anne Dudley 1612-1672. English-born colonial poet who wrote several collections of verse, including The Tenth Muse Lately Sprung Up in America (1650). Corporation (NYSE NYSE See: New York Stock Exchange : DNB DNB Dictionary of National Biography DNB Drum N Bass (music) DNB De Nederlandsche Bank DNB Dun & Bradstreet (stock symbol) DNB Den Norske Bank DNB David Nelson Band ) and eCredit.com for business credit reporting services. 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.
CREDITRISKMONITOR.COM, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999
(Unaudited)
2000 1999
---- ----
Operating revenues $ 427,344 $ 274,639
Operating expenses:
Data and product costs 184,027 130,078
Selling, general and
administrative expenses 484,865 344,920
Depreciation and amortization 52,086 28,233
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Total operating expenses 720,978 503,231
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Loss from operations (293,634) (228,592)
Other income 21,902 21,115
Interest expense (23,331) (16,901)
Write-off of intangible assets -- (134,076)
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Loss before income taxes (295,063) (358,454)
Provision for income taxes 3,020 --
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Net loss $ (298,083) $ (358,454)
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Net loss per share of common stock:
Basic $ (0.06) $ (0.07)
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Diluted $ (0.06) $ (0.07)
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Weighted average number of common
shares outstanding:
Basic 5,341,129 5,300,129
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Diluted 5,341,129 5,300,129
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