Hannover House Posts Significant Revenue and Profit Increases During Q4, 2013
1/29/2014 -- 7:35 AM -- Hannover House
"Springdale, AR / January 29, 2014 / ACCESSWIRE / Hannover House, Inc. (OTC: HHSE), a leading independent distributor of films, books and entertainment products, reported that gross revenues for the fourth quarter, ending December 31, 2013, increased by approximately 390% over the same quarterly period in the previous year.
Gross revenues for the Q4 reporting quarter were $1,153,136 with pre-tax net income of approximately $279,268. This is the sixteenth consecutive quarter of profitability for Hannover House since the company became publicly traded in January, 2010. Management believes that the growing revenue results validate the business plan of balancing low-investment, direct-to-video and video-on-demand releases with higher-profile theatrical titles as a means to maximize revenues and bottom line results. As first noted in the prior quarter, the Q4 results also reflect sales revenues from international licensing of films, representing a significant new media income stream for the studio.
Gross revenues for last year's fourth quarter (2012) were $295,822. For the current 2013 reporting period, sales revenues of $1,153,136 represents a significant increase from last year's Q4 results. Net (pre-tax) income for Q4, 2012 was $107,081 as compared to net (pre-tax) income for the just ended period in 2013 of $279,268, representing an increase in the company’s bottom line of 261%." ...(more)
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