TTLN FINANCIALS!!! - April 2, 2001
Monday April 2, 3:51 pm Eastern Time
Press Release
Total Entertainment, Inc. Reports Strong 191% Increase in Revenues for the Fourth Quarter
First Quarter 2001 Should Achieve in Excess of 200% Revenue Growth
NEW YORK--(BUSINESS WIRE)--April 2, 2001--Total Entertainment, Inc. (OTC BB: TTLN - news), one of the leading global interactive marketing and internet gaming technology companies, today announced its financial results for the fourth quarter ended December 31, 2000.
The Company reported approximately $611,000 in total revenue in the fourth quarter, a 191% increase from $210,466 in the fourth quarter of 1999.For fiscal 2000,Total Entertainment, Inc. recorded total revenue of $1,176,679 for the year ended December 31, 2000, an increase in revenue from $581,543 for the year ended December 31, 1999. The net income for year ended December 31,2000 was $ 26,264 or $0.00 per basic and diluted share respectively, compared to a loss of ($1,190,716) or ($0.02) per basic and diluted share, for the year ended December 31,1999. Total gaming handle for the year ended December 31,2000 was approximately $42,000,000.
``We are very pleased with the financial results for the fourth quarter and year-end. This is the fourth consecutive quarter that we have achieved strong revenue growth. In the first quarter ended March 31, 2001, we anticipate to continue this trend and report another increase in revenue of over 200%.'' said Sandy J. Masselli, Jr., Chairman and Chief Executive Officer. ``Looking-forward, we continue to grow our global business and maintain our leadership position, while balancing the need to develop proprietary software, increase staff and leverage resources throughout the organization. Our goal in 2001 is to increasing market share, improve profitability and increase shareholder value.'' Total Entertainment Inc has implemented a global advertising strategy and customer loyalty program. Total Entertainment is driven by growth in the number of new members, which again increased in the fourth quarter. Member deposits increased over 85% for the year ended December 31, 2000, a significant increases over the same period ended December 31, 1999.
Revenue continued to grow in the fourth quarter, this growth is due primarily to expansion/availability of Internet access around the world and the expansion of sports wagering overseas, primarily in Europe. The Company is exploring various opportunities in Europe particularly in the United Kingdom where new favorable Internet gaming legislation reinforces Total Entertainment's 2001 strategy to focus in Europe a market that offers immediate growth opportunities.
The Company is addressing growing opportunities in other interactive platforms including wireless and broadband. Masselli concluded, ``we continue to make significant progress toward our vision of being the preeminent global provider of Internet gaming. Our new product line diversification, proprietary software and enhanced global organization will contribute to meeting our goals.''
Analyst/Investor Conference Call
A conference call has been scheduled for 5:30 pm (EST) on Tuesday April 3, 2001. Interested parties should call 1-514-868-2559, Access Code#748123. Individual investor questions may also be sent in advance via e-mail to investors@ttln.com
About Total Entertainment, Inc.
Total Entertainment, Inc is a leading global operator of end-to-end Interactive software based games of chance and sports wagering facilities. Through its network of Internet properties, users can play realistic online games, receive the latest news, financial information and free e-mail and create a personalized portal to the Internet. Total Entertainment's e-commerce solution and services enables users to purchase electronic cash by credit card, wire transfer, money order or personal check. Total Entertainment provides a comprehensive suite of turnkey products and services that enables its clients to attract and retain customers worldwide, and to reap the benefits of our interactive and other electronic media. Corporate Head Office is based in Montreal.
For more information, visit www.TTLN.com.
This news release contains statements of a forward-looking nature relating to the future events or the future financial results of Total Entertainment, Inc. Investors are cautioned that such statements are only predictions and that actual events or results may differ materially. In evaluating such statements, investors should specifically consider the various factors that could cause actual events or results to differ materially from those indicated from Forward-looking statements, including the matters set forth in Total Entertainment's reports and documents filed from time to time with the Securities and Exchange Commission.
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Contact:
Total Entertainment, Inc., Montreal
Sandy J. Masselli Jr. / Mitchell Brown, 514/842-6999
investors@ttln.com |
