CreditRiskMonitor 2016 Operating Results
CreditRiskMonitor reports operating results for the year ended December 31, 2016
(firmenpresse) - VALLEY COTTAGE, NY -- (Marketwired) -- 03/20/17 -- CreditRiskMonitor (OTCQX: CRMZ) reported that revenues for the year ended December 31, 2016 increased 3% to $12.81 million compared to fiscal 2015. Net income for fiscal 2016 was approximately $52,400 compared to $513,200 in the prior year. Cash, cash equivalents and marketable securities at the end of 2016 increased to $9.22 million from the 2015 year-end balance of $8.96 million.
Jerry Flum, CEO, said, "2016's reported earnings were negatively impacted by our decision to increase our investment in new marketing infrastructure and programs. The head of this marketing effort resigned mid-year, and this initiative fell short of our 2016 plans. We have hired a new marketing leader, and expect to see the positive impact of this investment in 2018. We're still debt-free and our strong balance sheet provides us with financial flexibility to manage our company for long-term results."
CreditRiskMonitor () is a web-based publisher of financial information that helps corporate credit and procurement professionals stay ahead of business financial risk quickly, accurately and cost effectively. The service offers comprehensive commercial credit reports 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.
The Company also collects more than $100 billion of trade receivable data on both public and a select group of private companies every month, to help subscribers determine payment performance.
Over 35% of the Fortune 1000 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® score.
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.
CreditRiskMonitor.com, Inc.
Jerry Flum
845-230-3030
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Datum: 20.03.2017 - 16:39 Uhr
Sprache: Deutsch
News-ID 531271
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VALLEY COTTAGE, NY
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Commercial & Investment Banking
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