Alternate Marketing Networks Sets Annual Meeting Date and Reports on 2009 Financial Results

HUDSONVILLE, Mich., March 22 /PRNewswire-FirstCall/ -- Alternate Marketing Networks, Inc. (Pink Sheets: ALTM) has scheduled its annual meeting for June 16, 2010 at its Schaumburg office located at 428 E. State Parkway, Schaumburg, Illinois 60173.  The Company reported a net profit after tax of $451,084 on gross sales of $20,030,569 for its fiscal year ending December 31, 2009.  The Company reported income tax expense of $186,538, after it utilized the balance of the NOL carryforwards that had not been previously used or expired.  The company has no NOL carryforwards left for future years.  The unaudited financial statements were prepared by management.  Alternate Marketing Networks became a non-reporting company pursuant to a Form 15 filed with the Securities and Exchange Commission effective January 2, 2004 and does not currently plan to produce audited financial statements or an annual report to the shareholders or to solicit proxies for the meeting.  The Company currently has 8,046,656 shares issued and outstanding.  

The Company's sole operating subsidiary, National Home Delivery, Inc., through its three divisions U.S. Suburban Press (USSPI), Custom Media Solutions (CMS) and Specialty Media Solutions (SMS), provides newspaper and interactive solutions to national advertisers in the United States.

    
    
                        Alternate Marketing Networks, Inc.
                              4675 – 32nd Avenue
                             Hudsonville, MI 49426
    
    Alternate Marketing Networks, Inc., and Subsidiary
    Selected Financial Data
    (in thousands)
    
                                           Twelve months ended December 31,
                                                     (unaudited)
    
                                            2009          2008         2007
    
    Net Sales                        $    20,031   $    18,284  $    27,205
    Income from operations           $       643   $       287  $       818
    Extraordinary items              $         0   $         0  $       (17)
    Income tax expense (benefit)     $       187   $        19  $        (5)
    Net income after tax             $       451   $       257  $       882
    
    Weighted average shares-diluted    8,046,656     8,054,751    8,060,417
    
    Diluted earnings per share       $      0.06   $      0.03  $      0.11
    

Statements in this news release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act.  The forward-looking statements can generally be identified by words such as "believes," "anticipates," "expects" or words of similar meaning.  Forward-looking statements also include statements relating to the Company's future performance, such as future prospects, revenues, profits and cash flows.  The forward-looking statements are subject to risks and uncertainties, which may cause actual results to be materially different from any future performance suggested in the forward-looking statements.  Readers are cautioned not to place undue reliance on these forward-looking statements.  The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements.

SOURCE Alternate Marketing Networks, Inc.