DirectView Sales Increase 69%, Losses Down 84% as Company Reports Results for 2004.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla. -- DirectView, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DRVW), the leader in full-service, high-quality, cost efficient videoconferencing A real time video session between two or more users or between two or more locations. Although the first videoconferencing was done with traditional analog TV and satellites, inhouse room systems became popular in the early 1980s after Compression Labs pioneered digitized video systems technologies and services, has announced their results for 2004. 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 for fiscal 2004 were $733,435 as compared to net sales of $433,852 for fiscal 2003, an increase of $299,583 or approximately 69%. This increase reflects our increased marketing efforts and broadening of our customer base. Cost of sales for fiscal 2004 was $341,146, resulting in a gross margin of $392,289 or approximately 53%, as compared to cost of sales for fiscal 2003 of $129,388, resulting in a gross margin of $304,464 or approximately 70%. This decrease was primarily attributable to a general increase of costs in product acquisition and the sale of products with lower gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. . Operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. for fiscal 2004 were $1,041,036, a decrease of $5,455,773, or approximately 84%, from operating expenses in fiscal 2003 of $6,496,809. The full report is available online at sec.gov Jeffrey Robbins, President of DirectView, said: "We are very happy to report the results for 2004. As you see we are moving rapidly in the right direction. Quite simply, sales are up and losses are down. We have made strategic additions to the staff which have proven to be beneficial. In addition, you will see new marketing and a new web site in the coming days. We have a very strong outlook for the upcoming year." About DirectView, Inc. DirectView Inc., http://www.DirectViewInc.com , is a full-service provider of high-quality, cost efficient videoconferencing technologies and services. DirectView provides multipoint videoconferencing, network integration services, custom room design, staffing, document conferencing and IP / Webconferencing services to businesses and organizations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and around the world. DirectView conferencing services enable our clients to cost-effectively, instantaneously conduct remote meetings by linking participants in geographically dispersed locations. This announcement contains 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. that involve risks and uncertainties, including those relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the broadband market, broadband availability, the company's limited operating history, the limited financial resources, domestic or global economic conditions, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the company's business and financial results is included in the Company's filings, available via the United States Securities & Exchange Commission. |
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