Here is the latest quarterly:
biz.yahoo.com
Revenues increasing as well as income. Cash position is very weak. Really liked the following statement regarding "gross" profit and increasing margins.
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Gross Profit
Gross profit increased to $3,701,501 for the nine months ended September 30, 2008, compared to $2,625,958 for the nine months ended September 30, 2007, an increase of $1,075,543, or 41%. Gross profit margin increased to 8.1% for the nine months ended September 30, 2008 versus 7.9% for the nine months ended September 30, 2007.
The increase in gross profit for the nine months ended September 30, 2008 was due to higher revenue, particularly consulting revenue, which has a much higher margin than production work. As a result of higher revenue, cost of revenues increased by $11,576,050, or 38%, to $42,149,174 for the nine months ended September 30, 2008 from $30,573,124 for the nine months ended September 30, 2007. The increase in cost of revenue was primarily due to the Company requiring additional external resources in order to fulfill the higher demand for the Company's services. The outsourcing of content production work enabled the Company to develop a team of contractors that will assist the Company in producing multimedia content and applications that are crucial to its future business operation. |
