Conservative Broadcast Media and Journalism Inc (CBMJ)

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$CBMJ Grows Q-4 Revenue by 68% Quarter over Quarter and Annual Revenues Grow 82% Year over Year in 2021

https://www.globenewswire.com/news-release/2022/01/13/2366483/0/en/CBMJ-Grows-Q-4-Revenue-by-68-Quarter-over-Quarter-and-Annual-Revenues-Grow-82-Year-over-Year-in-2021.html

Powder Springs, GA, Jan. 13, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- CBMJ Inc. (OTC:CBMJ) Conservative Broadcast Media & Journalism Announced that Quarter over Quarter Revenue increased by 68% from $785K in 2020 to $1.32M in Q-4 of 2021.

The Company’s full year revenue came in at $4.44M which is an 82% increase over 2020 revenue of $2.43M.

Product sales through e-commerce including Flag & Cross, Patriot Depot, Coffee and Cigar Sales accounted for 75% of total sales. The other 25% came from Consulting Services, Database Email sales and rentals and Media Services.

"One of our goals in 2021 was to drive Revenue which was accomplished with organic growth along with the acquisition of Patriot Depot in June 2021. Although sales were strong, we did not achieve our net income goals in 2021 due to inventory adjustments, added shipping costs, advertising censorship from big tech and managing the integration of the two businesses. With the hiring of Hanford Jordan as CEO of CBMJ’s subsidiaries DeDonato Enterprises/Patriot Depot, which was announced yesterday, we expect to rectify those issues and achieve both sales and earnings goals in 2022. The goal in 2022 is to achieve 10% earnings bottom line as a percentage of sales," stated CBMJ’s CEO Mark Schaftlein.

Correction: Yesterday’s press release from CBMJ announcing Hanford Jordan as being hired as CEO of its subsidiaries DeDonato Enterprises/Patriot Depot stated in error that prior he had been an auditor with “KPMC”. Is should have stated that prior he had been an auditor with “KPMG” International Limited, a British-Dutch multinational professional services network, and one of the Big Four accounting organizations.

About DeDonato Enterprises: DeDonato Enterprises, L.L.C. is a Digital Marketing Agency based in Metro-Atlanta that specializes in reaching a conservative/libertarian/religious audience. DeDonato was acquired by CBMJ in October of 2020.