WEDDING INFORMATION NETWORK, INC., ANNOUNCES REVENUES AND EARNINGS
FOR THE THREE MONTHS AND QUARTER ENDED SEPT. 30, 1991
OMAHA, Neb., Nov. 15 /PRNewswire/ -- Wedding Information Network, Inc., and Subsidiary (NASDAQ: WINN) today announced revenues and results of operations for three months ended Sept. 30, 1991.
Revenues increased $238,730 or 27.5 percent for the three months ended Sept. 30, 1991, as compared to the same period of the prior year.
The company reported a net loss of $(24,473) or $(.01) per common and common equivalent share for the three months ended Sept. 30, 1991, compared to a net loss of $(148,184) or $(.04) per common and common equivalent share for the three months ended Sept. 30, 1990.
Commenting on the revenues and operational results for the three months ended Sept. 30, 1991, and the year-to-date, Sanford L. Friedman, president of Wedding Information Network, Inc., said the increased revenues were primarily from printing operations and company-owned markets. Revenues from franchise operations will be much stronger in remaining quarters as only 15 percent of the books projected to publish for the year published this quarter. Operationally, the company's improvement is primarily related to printing operations as improved internal efficiencies and elimination of overheads have favorably impacted the company from a year ago.
Wedding Information Network, Inc., is a franchisor and publisher of "The Wedding Pages," a comprehensive guide used to plan a wedding. Wedding Information Network, Inc., currently operates in 69 geographic markets through 51 franchises, 17 company markets, and one joint venture. Through this network, "The Wedding Pages" offers a sophisticated marketing program used by businesses who provide products and services to the bridal industry. K/R Associates, Inc., provides commercial art, typesetting, camera and printing services for a diverse base of Omaha business clients.
WEDDING INFORMATION NETWORK, INC.
SELECTED FINANCIAL DATA FOR THE YEAR AND QUARTER ENDED
SEPT. 30, 1991 AND 1990 (UNAUDITED)
Three Months Ended
Revenues $1,106,276 $867,546
Selling, marketing production costs 732,432 605,791
Total costs & expenses 1,150,546 1,056,693
Loss from operations (44,270) (189,147)
Interest income, net 19,797 40,963
Loss before income tax (24,473) (148,184)
Income taxes (net) -- --
Net loss $(24,473) $(148,184)
Net loss per common and Class A common share $(.01) $(.04)
Weighted average shares outstanding 3,382,842 3,376,950
/CONTACT: Bradley L. Poppen of Wedding Information Network, 402-331-7755, or 1-800-843-4983/
(WINN WINNU WINNA) CO: Wedding Information Network, Inc. ST: Nebraska IN: SU: ERN JS -- MN016 -- 1774 11/15/91 17:38 EST