CreditRiskMonitor Announces 2Q Results
VALLEY COTTAGE, NY—August 8, 2016—CreditRiskMonitor (OTCQX: CRMZ) reported that revenues increased 2% for both the 3 and 6 months ended June 30, 2016, to $3.18 million and $6.29 million, respectively. Net loss the periods was approximately ($20,700) and ($111,000), respectively, compared net income of $135,100 and $171,600 for the comparable 2015 periods. Cash, cash equivalents and marketable securities at the end of the six-month period increased approximately $600,100 to $9.56 million from the 2015 year-end balance of $8.96 million.
Jerry Flum, CEO said, “This year’s operating results continue to be impacted by planned incremental marketing expenditures that are an integral component of our initiative to drive increased traffic to our website. Our redesigned website launched early in the second quarter and to date the results are measuring up to our expectations. We remain debt free and will continue to invest in these marketing programs.”
CreditRiskMonitor (http://www.creditriskmonitor.com) is a web-based publisher and aggregator of financial information that helps corporate credit and procurement professionals stay ahead of and manage financial risk quickly, accurately and cost effectively. The service offers comprehensive commercial credit and financial risk analysis covering public companies worldwide. Unlike other commercial credit bureaus like Dun & Bradstreet, CreditRiskMonitor’s primary expertise and focus is on financial analysis of public debt and equity companies.
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 1000 depends 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® score.
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.