VALLEY COTTAGE, NY—March 5, 2015—CreditRiskMonitor (OTCQX: CRMZ) reported that for the year
ended December 31, 2014 revenues increased 3% to $12.20 million compared to fiscal 2013, while net income was $371,000 versus $294,000 in the prior year. Cash, cash equivalents and marketable securities at the end of 2014 increased to $8.89 million from the 2013 year-end balance of $8.05 million.
Jerry Flum, CEO, said, “The Company continues to invest in building its sales and service staff, enhancing infrastructure, adding new data, and creating new tools for subscribers, realizing that this strategy reduces our profitability in the short-term. However, we remain debt-free and our strong balance sheet provides us with financial flexibility should investment opportunities present themselves.”
CreditRiskMonitor (http://www.crmz.com) is a web-based publisher of financial information that helps busy corporate credit and procurement professionals stay ahead of and manage risk quickly, productively and accurately. The service offers comprehensive commercial credit reports and analysis covering public companies worldwide in competition with Dun & Bradstreet. Additionally, the Company collects from subscribers more than $100 billion of trade receivable data on both public and a select group of private companies every month. Over 35% of the Fortune 1,000 depend on CreditRiskMonitor's timely news alerts and reports featuring detailed analyses of financial statements, ratio analysis and trend reports, peer analyses, bond agency ratings, as well as the company's proprietary FRISK® scores, which have been proven 95% predictive in anticipating corporate financial stress, including bankruptcy.
Safe Harbor 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” within the meaning of the Private Securities Litigation Reform Act 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. We disclaim any intention or obligation to revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.