Thanks Lexi! Earnings for CPNE were quite impressive if you'd like to check here: Commerce Planet Posts Record Revenue and Net Income for Full Year 2006; Profits in 2006 Surge to $8.7 Million
Friday March 2, 7:00 am ET
GOLETA, Calif., March 1 /PRNewswire-FirstCall/ -- Commerce Planet, Inc. (OTC Bulletin Board: CPNE - News) an online media company and its wholly owned subsidiaries filed their annual 10KSB today and reported $8.7 million in profit for fiscal 2006. The 2006 profit represents a complete turn around from fiscal 2005's net loss of ($6.3) million. Commerce Planet reported consolidated revenue of $27.5 million and combined revenues, including inter-segment transactions, of $34.8 million for 2006. Consolidated revenues for 2005 were $7.3 million representing year-over-year growth of 275%. Earnings for the year ending December 31, 2006 were $0.20 per weighted average share versus ($0.17) per weighted average share for fiscal 2005.
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Michael Hill, CEO, stated, "we are pleased to release our fourth consecutive quarter and first complete year of profitability. We attribute our significant revenue growth and high level of profitability to the 2006 strategic initiatives that were successfully executed upon in support of last year's Commerce Planet re-brand. The Company organically developed or acquired three new subsidiary businesses, Legacy Media, Inc. (www.LegacyMedia.com), Interaccurate, Inc. (www.Interaccurate.com) and OS Imaging, Inc. (www.OSImaging.com). It is believed, the services of these subsidiaries leveraged with the power of the Consumer Loyalty Group, Inc. (www.ConsumerLoyalty.com) branded products and services are responsible for the dramatic turn around in the Company's performance."
Consumer Loyalty Group has expanded its product offering and diversified its revenue stream from its original core product, www.OnlineSupplier.com to a suite that now encompasses eight highly profitable products which include amongst others, www.InvestingInSuccess.com, www.BuyDiscount.com and www.SearchDiscount.com. Since mid-2006, these products have been deployed through the Commerce Planet infrastructure which was designed to consolidate sales and support services, leading to increased net profit margins.
The planned focus for 2007 is to expand the subsidiaries' customer base of B2B clientele. Based upon the success of Consumer Loyalty Group, unrelated third party businesses have expressed strong interest in utilizing the Commerce Planet business model to promote and support their own third party branded products and services. Interaccurate, Inc. owned www.MyOnlineChat.com has already executed agreements with several new customers to begin 2007.
Hill also stated, "we anticipate that 2007 will be another strong year for our Company and we intend on capitalizing upon our upward momentum. We have made several capital investments designed to support this continued growth trend. Our order volume has dramatically increased over the last few months and we believe our re-occurring billable model will produce enhanced profit margins."
About Commerce Planet, Inc. (www.commerceplanet.com)
Commerce Planet, Inc. (OTC Bulletin Board: CPNE - News) is a publicly traded, internet-based media company. The Company offers online media products, lead generation services and direct marketing tools to its client partners. Commerce Planet offers an internet turnkey media solution through its network of wholly owned subsidiaries, which include Consumer Loyalty Group, Inc., Legacy Media Inc., OS Imaging, Inc. and Interaccurate, Inc.
Each subsidiary of Commerce Planet specializes in a specific niche of the online media industry. Their combined services are designed to address the needs of client partners, including membership loyalty programs, direct response consumer marketing, affiliate list management, email deployment, live chat software-based services, direct phone sales and customer service, and printing services.
To find out more about Commerce Planet, Inc. (OTC Bulletin Board: CPNE - News), visit our website at www.commerceplanet.com. The Company's public financial information and filings can be viewed at www.sec.gov.
Forward Looking Statements
Except for the historical information contained herein, the matters set forth in this press release, including statements as to management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements include that the Company believes it is quickly becoming a top internet media company and expects to continue to increase its market share in this industry. This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products and services or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.
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Source: Commerce Planet, Inc.
I hope to get a pretty decent % gain from CPNE over the coming days...I first started buying it around 1.50 a couple of months back or so and it has treated me quite well! Thanks for your input!! tuna |
