Alternate Marketing Networks Sets Annual Meeting Date and Reports on 2011 Financial Results
HUDSONVILLE, Mich., March 27, 2012 /PRNewswire/ -- Alternate Marketing Networks, Inc. (Pink Sheets: ALTM) has scheduled its annual meeting for June 13, 2012 at its Schaumburg office located at 428 E. State Parkway, Schaumburg, Illinois 60173. The Company reported a net profit after tax of $596,267 on gross sales of $20,968,660 for its fiscal year ending December 31, 2011. The Company reported income tax expense of $328,901. 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., is a media buying agency that specializes in national newspaper and email placement. This is accomplished through National Home Delivery's three primary divisions, U.S. Suburban Press (USSPI), Specialty Media Solutions (SMS) and CMS email.
The Company is expanding its partnership with CityTwist, the technology leader in customer acquisition email advertising. USSPI is a preferred local sales partner for two new CityTwist products. Those products include an Automotive Dealer product that combines R.L. Polk data with CityTwist's opt-in database and a Small/Medium Business (SMB) subscription product that delivers affordable monthly ads to target zip codes.
"These products are helping our USSPI local newspapers in providing a full suite of target services to a publisher's local advertisers," said Phil Miller, CEO of USSPI.
The Company provides national advertisers in the U.S. with targeted advertising on a hyper-local level as well as a one-order, one-bill system. The Company has over 2,000 newspapers in its proprietary database.
| Alternate Marketing Networks, Inc., and Subsidiary |
||||||
| Selected Financial Data |
||||||
| (in thousands) |
||||||
|
|
Twelve months ended December 31, |
|||||
|
|
(unaudited) |
|||||
|
|
|
|
|
|
|
|
|
|
|
2011 |
|
2010 |
|
2009 |
|
|
|
|
|
|
|
|
| Net Sales |
$ |
20,969 |
$ |
24,362 |
$ |
20,031 |
| Income from operations |
$ |
925 |
$ |
1,482 |
$ |
643 |
| Income tax expense (benefit) |
$ |
329 |
$ |
570 |
$ |
187 |
| Net income after tax |
$ |
596 |
$ |
912 |
$ |
451 |
|
|
|
|
|
|
|
|
| Weighted average shares-diluted |
|
8,046,656 |
|
8,046,656 |
|
8, 046,656 |
|
|
|
|
|
|
|
|
| Diluted earnings per share |
$ |
0.07 |
$ |
0.11 |
$ |
0.06 |
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
Share this article