Company's Actual Shipped Revenue For Quarter Exceeds Thirty-Six Million
Company's Achieves 50% Growth from First Quarter
Business/Technology Editors
CANFIELD, Ohio--(BUSINESS WIRE)--June 25, 2001--Infotopia, Inc.
(OTC BB:IFTA) ("Infotopia" or the "Company"), announced today that
revenue for second quarter is estimated to exceed $36,000,000. This
represents an increase of approximately 50% from this fiscal year's
first quarter revenue of $23.923,000. Profit for the period, is
estimated to be in excess of $2,200,000, an increase of $638,000 from
first quarter of this fiscal year. With 2,500,000 weighted average
shares outstanding, Earnings Per Share for the second quarter is
anticipated to be $0.88 per share, bringing our year to date Earnings
Per Share to $1.50.
This sizeable revenue increase is due mainly to the extraordinary
success of the Body By Jake Bun and Thigh Rocker, Total Tiger, and the
Six Week Body Makeover. Additional revenue from on-going sales of the
Ultimate Slimming Formula, Total Trim, Fat Fighting System, the
Medicus Dual 2000, and the Backstroke are all part of the ever-growing
revenue stream.
The Company is also anticipating to complete and submit to the SEC
by the end of this week the Proxy statement to be mailed to all
shareholders of EntrePort Corporation (AMEX: ENP) ("EntrePort")
containing detailed information about planned corporate reorganization
in which Infotopia, Inc., a Nevada Corporation ("Infotopia Nevada")
will sell its wholly owned subsidiary Infotopia, Inc., an Ohio Company
("Infotopia Ohio") to EntrePort.
Ernest Zavoral, President, states, " The success is just beginning
for Infotopia, with so many of our new products in production and the
fall retail rollout of our fitness products, yet to come, we
anticipate the growth to continue. We have been adding the proper
infrastructure to support this incredible growth and look forward to
adding more products to the Infotopia, Inc. success list. In less than
twelve months, we have had four infomercials achieve top ten status."
Daniel Hoyng, CEO of Infotopia adds, "We've grown exponentially
these last six months. Changes implemented during this quarter have
made "real-time" tracking of the Company's Sales and Profits much more
accurate than in the past. I am very confident that our results will
withstand the scrutiny of our auditors. The recent addition of the
Vice-President of Corporate Finance should help to keep our
projections accurate and reported results should help build
shareholder confidence. I understand our recent restructuring of the
number of outstanding shares was viewed with much skepticism, but a
review of this quarter's actual Earnings Per Share should instill
shareholder confidence in how undervalued Infotopia presently is at
this time. Direct Focus, Inc., (NASDAQ: DFXI), which is also in the
direct response industry, is currently trading at a 21 multiple of
their Earnings Per Share. This should clearly demonstrate the upside
potential of Infotopia."
Ronald Fricke, VP of Corporate Finance commented, "We are very
pleased with these preliminary results for the second quarter of
fiscal 2001. The substantial, steady growth the Company is
experiencing despite the apparent slowdown in the overall economy,
only further demonstrates the yet unrealized potential of Infotopia,
Inc. We intend to work diligently to file our 2nd Quarter 10Q by the
end of July. We believe that with two solid quarters behind us the
financial community will soon take notice of the potential of
Infotopia."
ABOUT INFOTOPIA
The Company's mission is to produce, market, and distribute an
expanding line of high-quality, innovative health, fitness and
consumer products. Infotopia seeks out products that deliver superior
value, outstanding quality, and competitive prices to best satisfy
customer demand. The Company markets its products to consumers through
a variety marketing channels, including infomercials, distributor
alliances, and Internet e-commerce. The management at Infotopia is
committed to increasing corporate revenues and profits. The company's
website is located at infotopia.tv.
This news release includes "forward-looking statements" that
include risk and uncertainties. The forward-looking statements in this
release are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially due to a variety of factors, including without limitation
the Company's ability to produce and market products and/or services
and other risks detailed from time to time in their Company's reports
filed with the Securities Exchange Commission.
--30--gk/bos*
CONTACT: Infotopia, Inc.
Robert Tilton
609-888-4111
IFTPIR@infotopia.tv
KEYWORD: OHIO
INDUSTRY KEYWORD: ADVERTISING/MARKETING COMPUTERS/ELECTRONICS
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