FindEx Releases Q1 Results.OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb. -- FindEx.com, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : FIND) (All amounts in US dollars) announced its results for the first quarter ended March 31, 2005. For the three months ended March 31, 2005, the company reported increased gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. of $1,984,036 as compared to $1,715,471 for the three months ended March 31, 2004. Gross revenues for the first quarter increased by approximately $268,500, or 16% over the previous year. The company's net income decreased approximately $111,000 from approximately $272,000 for the three months ended March 31, 2004 to approximately $163,000 for the three months ended March 31, 2005. FindEx Chief Executive Officer Steven Ste´ven n. 1. Voice; speech; language. Ye have as merry a steven As any angel hath that is in heaven. - Chaucer. 2. An outcry; a loud call; a clamor. To set steven to make an appointment. Malone commented, "The first quarter was a good start for what we believe will be a strong year for FindEx. We released a new version of Membership Plus, our flagship church management software product, and two new editions of our QuickVerse Bible Study Bible study may refer to:
In discussing the operating results of the Company, Kirk Rowland Row·land , F(rank) Sherwood Born 1927. American chemist who shared a 1995 Nobel Prize for his work on the chemical processes involved in the formation and decomposition of ozone. , Chief Financial Officer for FindEx stated, "Our core products continued to provide strong sales and operating cash flows Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. . Our direct sales increased over the first quarter of 2004 from approximately 62% of our total gross sales to approximately 72% of our total gross sales for first quarter of 2005. Our retail sales decreased approximately $96,000, or 15%, from 2004 sales during the quarter. With our strong operating cash flows, we also reduced our trade payables Payables Related: Accounts payable and royalty obligations and maintained our positive working capital position while continuing to fuel product development." About FindEx.com, Inc. FindEx.com, Inc. is a U.S. based public company focused on becoming the leader in Bible study and related faith-based software product development and sales to the domestic and international markets. The company's main product is QuickVerse, a Bible study search engine tool. Over 1,000,000 copies of QuickVerse have been sold since the product's introduction. Its other largest selling product is Membership Plus, a Windows-based financial and data management software product for churches and related non-profits. All products are available at the company's Website www.quickverse.com. This press release contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such 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. by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of FindEx to be materially different from the statements made herein. Among others, these risks include but are not limited to the following: (i) limited liquidity and capital resources; (ii) serious business competition, (iii) fluctuations in operating results may result in unexpected reductions in revenue and stock price volatility; (iv) delays in product releases and introductions may result in unexpected reductions in revenue and stock price volatility, and (v) errors or defects in products may cause a loss of market acceptance and result in fewer sales. These, as well as other risks are described in the company's annual report on Form 10-KSB for the year ended December 31, 2004 and Form 10-QSB for the quarter ended March 31, 2005. |
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