Actually, DRGP is maintaining its sales and revenue growth rate even in the current economic environment. The PR below gave us a financial update through the end of August. DRGP management has concentrated on products that do well in all kinds of markets (Riddex being a prime example).
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Dynamic Response Group Announces Mid-Quarter Sales Update
Sales Increases 180% Compared to Year-Earlier Period; Company Expects Improved Operating Results
MIAMI, FL, Sep 09, 2008 (MARKET WIRE via COMTEX) -- Dynamic Response Group, Inc. (OTCBB: DRGP), a leading innovator of strategic marketing solutions, announced today preliminary unaudited sales results for the two month period from July to August, 2008. The Company generated gross sales of approximately $7.0 million, a 180% increase compared to revenue of approximately $2.5 million for the same two-month period in 2007. The Company generated net revenue of $4.8 million for the entire 2007 third quarter.
The Company also expects the 2008 third quarter will result in improved operating results compared to the 2008 second quarter, as the Company has streamlined operations, reducing or eliminating some of the Selling, General and Administrative expenses it incurred during the 2008 second quarter.
"While we continue to focus on growing the market for many of our key products, during the 2008 second quarter we incurred many expenses necessary to streamline our operations for the second half of the year as well as 2009," said Melissa K. Rice, Chief Executive Officer. "As a result of these operating efficiencies, we expect lower SG&A expenses for the second half of the year, as we focus on reaching GAAP profitability."
About Dynamic Response Group, Inc
Dynamic Response Group, Inc. ("DRG") is a leading innovator of strategic marketing solutions. The Company leverages its vast knowledge of its customers to create, develop and market innovative products and services that build brand awareness and drive sales across large national and international consumer audiences. The foundation of the Company is its direct response TV (DRTV) and Internet advertising business, which has produced many highly effective products including: ProCede(TM), a hair thickening system for men; Riddex, a pest control product; "Backyard Drills with Bill Parcells," a DVD series for fathers and sons; and "The Legends of Soul," a DVD series of current day concerts of classic soul artists. The Company has also signed an exclusive three year deal to market The Official NASCAR Members Club to the over 75 million estimated NASCAR fans in the US.
Forward-Looking Statements
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. The above information does not guarantee any successful closing of new business. No assurances can be given that any projections related to gross revenues or profit margins will be realized. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
Contact:
Daniel Schustack
CEOcast, Inc. for Dynamic Response Group
(212) 732-4300
SOURCE: Dynamic Response Group, Inc.
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