Income Statement Analysis & Financial Review
Revenues for the nine months ended January 31, 2014 were $232,562 vs. $185,256 in the prior year, advancing
26% year over year. Gross margin widened 18%, on higher revenues. Marketing expenses were $22,225, as
opposed to $18,916 in 2012, increasing 16%. General & administrative expenses were $0.8 million, as opposed
to $0.5 million in 2012, increasing 52%. For the first three quarters of FY 14 (Apr.), net loss was $0.8 million ($0.03
a share), vs. a loss of $1 million ($0.08 a share) in FY 13.
In the third quarter, revenues were $90,327 vs. $65,463 in the prior year, an increase of 38% year to year. Gross
margin narrowed 63%, despite higher revenues. Marketing expenses were $11,823, as opposed to $8,627 for
the same period in 2013, rising 33%. General & administrative expenses were $0.6 million, as opposed to $0.3
million for the same period in 2013, rising 77%. Net loss was $0.6 million ($0.02 a share), vs. a loss of $0.8 million
($0.05 a share) in the third quarter of FY 13.
