Impart Media Group Reports 2007 Second Quarter Results
Market Wire, August, 2007
Impart Media Group, Inc. (OTCBB: IMMG), a global provider of end-to-end information networks, transactional kiosks, digital signage services, and direct-to-consumer advertising, announced today financial results for the 2007 second quarter. The company reported revenue of $1.76 million for the second quarter of 2007, compared with $1.43 million during the second quarter of 2006, representing a 23% increase year over year. The revenue increase was due primarily to the continuing, strong sales success of direct-to-consumer advertising.
The company reported a net loss of $1.84 million compared to a net loss of $2.84 million in the second quarter of 2006. The company also reported a loss available to common stockholders of $4.29 million compared to $2.92 million in the same period in 2006 and a basic and diluted loss per share available to common stockholders of $0.18 compared to $0.13 in the same quarter in 2006.
The decrease in net loss for the 2007 second quarter was primarily attributable to the increased revenue and gross margins in the direct response business unit, plus decreases in operating expenses. The net loss available to stockholders increased primarily due to the contractual revaluation of the Series A Preferred Shares conversion price in conjunction with the convertible debenture funding in the second quarter.
Joe F. Martinez, Impart's CEO, said, "Our direct response business unit experienced another stellar quarter under Michael Medico's direction, with continuing momentum leading into the next quarter. Additionally, we have accelerated our aggressive market development strategies, prioritizing project engagements and simultaneously seeding the digital signage sector with our new Valet kiosks, Concierge systems, and 3D displays. We are attracting and selling new client network applications with market-specific, user interface products. We anticipate an increase in digital signage installations and, consequently, increased revenues in the second half of 2007."
Mr. Martinez concluded, "The focus and corporate priorities for the second half of 2007 are sales, sales and more sales to meet our stated topline revenue projections for 2007. I believe that we have reached the inflection point in the out-of-home space, as the second half of 2007 should validate all of our business and product retooling efforts over the past twelve months. Our sales pipeline is robust and we look forward to converting sales leads and business negotiations into contract signings with billable deliverables."
Please see the recently filed Form 10-QSB for complete 2007 Second Quarter financial information and business discussion.
Company Earnings Webcast
The company will host a conference call, with webcast, at 4:30 p.m. EDT on Tuesday, August 14, 2007, to discuss the Second Quarter financial results. The call will feature remarks by Joseph F. Martinez, chief executive officer; Stephen M. Wilson, chief financial officer; Thomas C. Muniz, president; and Michael Medico, president, IMA (E&M).
The live audio broadcast of the call may be heard by dialing (800) 610-4500 with access code # 01300 inside the United States or Canada, or by dialing (702) 851-3339 from international locations. A supportive webcast presentation of the call is simultaneously available, if you register at: https://www.gotomeeting.com/register/947411956
A mp3 file replay of the call will be archived on Impart's corporate Web site, the next day, in the newsroom section: http://impartmedia.com/about/newsroom
Please address all shareholder or investor questions for the scheduled audio broadcast, in advance via email, to question@impartmedia.com
About Impart Media Group, Inc.
Impart Media Group, Inc. (OTCBB: IMMG), founded in 1983 and headquartered in Seattle, Washington U.S.A., is a global provider of end-to-end information networks, transactional kiosks, digital signage solutions, and direct-to-consumer advertising. In the fast growth, alternative out-of-home (AOOH), business-to-consumer media sector, the Company provides digital signage and transactional kiosk solutions that are comprised of flat panel monitors, media players/servers, audio/video/data accessory components, enclosures/mounts/fixtures, web services, and software. To augment their comprehensive equipment offerings, the Company also provides for enterprise consulting, design, custom development, integration, fabrication, assembly, IP connectivity, quality assurance, creative production, installation, onsite maintenance, web-data hosting, network monitoring and content management services throughout the United States and in global markets through authorized international dealers, distributors and joint ventures. The Company's digital media solutions enable the simultaneous delivery of video, stills, text, web, and animation content to a variety of remote audiences in real time, allowing for immediate customization of messages through a centralized network operations center or secure web portals.
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