Hannover House Posts Significant Gains in Revenues and Net Income

NEW YORK, Nov. 18, 2011 /PRNewswire/ -- Hannover House, the operating division of Target Development Group, Inc. (Pinksheets: TDGI) has logged its best quarterly results yet, since the two companies first joined forces back in January, 2010.  Led by strong home video sales of the Joel Schumacher thriller, "Twelve" and box office revenues of "Turtle: The Incredible Journey," the independent distributor posted gross revenues of $1,995,367 and pre-tax, net-income of $896,656 for the 3-month period ending September 30, 2011.

The complete quarterly financials for Target Development Group, Inc. and Hannover House, including the Balance Sheet, Statement of Cash Flows and Income Statement for the third quarter, will be posted to the OTC Markets website later today.

"We continue to see significant improvements with each consecutive quarter, delivering increases in both revenues and income," said Fred Shefte, President of Target and Hannover House.  "As we accelerate the frequency and breadth of our release schedule and media outreach, we expect to see revenues and income grow substantially over the next two years."

The Company's fourth quarter releases include the theatrical launch of the Christina Ricci romantic-comedy, "All's Faire In Love" and the home video release of "Turtle: The Incredible Journey."  While the home video release for "All's Faire In Love" will not generate revenues for Hannover House until February, 2012, contracts for television rights and video-on-demand placements are expected to be recognized during the fourth quarter of this year.  Another theatrical release for Hannover House is the award winning drama, "Cook County," which opens December 16 in an "Academy Qualifying" engagement in New York and Los Angeles.  "Cook County" stars Anson Mount, who also stars in the recently launched AMC-TV prime-time series, "Hell On Wheels," and Hannover House expects to benefit from enhanced media and consumer interest in Mount.  The trailer can be viewed at:  www.CookCountyTheMovie.com

New theatrical releases set for the first quarter of 2012 include the acclaimed animated feature, "Toys in the Attic," the Sundance competitor "Asalto Al Cine" and the Russian thriller, "The Weather Station," all of which are expected to reach the home video market during the second quarter of next year.

In other news, the Hannover House – SeaWorld Pictures home video release of "Turtle: The Incredible Journey" reached retailers and on-line sellers nationwide this week.  Set for a "Black Friday" on-sale date at Wal-Mart Stores, the DVD and Blu-ray videos have already enjoyed brisk sales through Amazon.com and thousands of other outlets.  A SeaWorld email blast is planned for next week to drive millions of consumers to on-line sites offering the videos, and to retail stores in support of the holiday season release.  A list of key accounts supporting "Turtle: The Incredible Journey" can be found at the website, www.Turtle-Film.com.

FOR MORE INFORMATION CONTACT:
Lauren Sterling, 479-751-4500 / [email protected]

SOURCE Target Development Group, Inc.