Think Partnership Posts Record Revenues for First Quarter of 2005
Tuesday May 17, 4:10 pm ET
NORTHBROOK, Ill.--(BUSINESS WIRE)--May 17, 2005--CGI Holding Corporation d/b/a Think Partnership Inc. ("THK") (AMEX: THK - News) reported record revenue of $10.2 million for the first quarter ended March 31, 2005.
-- Revenues were $10,179,156 for the first quarter of 2005, a 166 percent increase compared to $3,825,431 for the same period of 2004.
-- Pre-tax income was $1,424,820 for the first quarter of 2005, a 48 percent increase compared to $959,469 for the same period of 2004.
-- After-tax net income was $879,590 for the first quarter of 2005, a 37 percent increase compared to $638,691 for the same period of 2004.
-- After-tax earnings per share on a fully diluted basis were $0.02 for the first quarter of 2005, the same as $0.02 for the same period of 2004.
T. Benjamin Jennings, the Company's Chairman, stated, "We are thrilled with the pace and success of our integration efforts. We have made significant progress in the first quarter with taking some great independent companies and forming one of the true leaders in our industry: online search, marketing and advertising, which we believe is the fastest growing and most profitable segment of the internet. We remain comfortable with the high end of our previously stated estimated range for fiscal 2005 earnings per share of 20 cents - 25 cents per share on a fully diluted basis with second quarter growth of more than 80% over first quarter's earnings per share."
Jennings commented further, "Given the level of our internal cash flow we expect to fund our pending acquisition needs through bank financing and do not anticipate the need to sell additional shares of common stock to fund these needs."
Gerard M. Jacobs, the CEO of THK, stated, "Our first quarter expenses were impacted by the costs of acquiring and integrating our businesses but our revenues do not include a full quarter of results for the five acquisitions which we closed during the course of the first quarter, any contribution from our acquisition of PrimaryAds which we closed in the second quarter, or the benefits we expect from combined marketing and sales efforts. At the current rates of growth of our businesses, and assuming we close as we anticipate, our previously announced acquisitions of Real Estate School Online and Vintacom Media Group later this quarter, we are expecting Think Partnership's revenue for the full year 2005 to exceed $70 million, and to be on a run rate of over $100 million per year to begin 2006."
<snip>
biz.yahoo.com |
