IMAGE Worldwide (IMGW) Reports Strong Financial Results
Increase in Sales and Improved Net
CHICAGO, IL -- (Marketwire) -- 11/11/08 -- IMAGE Worldwide Inc. (PINKSHEETS: IMGW) is pleased to announce that its unaudited 2008 2nd and 3rd quarter sales were $521,271 and $578,476 up from $501,460 in the first quarter of 2008. The total revenue for the first 9 months of 2008 is $1,601,207.
Net profitability was up as the net loss decreased from $133,257 in the 1st quarter of 2008, to a net loss of $93,376 in the 2nd quarter of 2008, to a net loss of $42,703 in the 3rd quarter of 2008 resulting in a decrease of $90,554 in net losses from the 1st to the 3rd quarter or 68%.
Paul Sorkin, CEO of IMAGE Worldwide, said, "We are very pleased with our consistent growth and reduction in losses. Our philosophy of cross promoting, cross marketing, and cross selling multiple products and services to help utilize the economies of scale is working for us. We are excited about the current and future projects and opportunities we are working on for the 4th quarter and in 2009."
About IMAGE Worldwide, Inc.
IMAGE Worldwide, Inc. (PINKSHEETS: IMGW) is a full service interactive multimedia marketing and advertising agency. IMAGE is vertically integrated with properties including a concert/nightclub venue, fashion/entertainment magazine, IT solutions company, along with other promotional and marketing companies. IMAGE utilizes a combination of different forms of media and promotions to help clients showcase and market their IMAGE in print, online, and at events. www.IMAGEworldwide.com.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plan, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Media Contact
info@IMAGEworldwide.com
Investor Relations Contact
1-866-210-4671
investors@IMAGEworldwide.com
Source: Marketwire (November 11, 2008 - 8:30 AM EST)
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