Hannover House Submits 2012 Release Slate and Forecasts for Corporate Finance Opportunities Company forecasts growth of over 100% for current year, over 2011 results.
Los Angeles, CA, May 30, 2012 (GLOBE NEWSWIRE) -- Sales revenues during calendar year 2012 for independent studio Hannover House (OTC Markets: HHSE) will reflect the company's ongoing commitment to the home video market, as well as new activities in presales and licensing to international buyers, said Eric Parkinson, C.E.O. For 2012, the company has set a revenue goal of 11.7-million, with a projected pre-tax operating margin of about 2.1-million. Titles contributing the most towards revenues include the August theatrical release of "Toys in the Attic," (starring Academy Award winner Forest Whitaker) and international presales for the fall 2012 production of "Mother Goose" (starring Academy Award winner Shirley MacLaine).
The revenue projections were released today in compliance with public company guidelines requiring access to information that might otherwise be considered preferential and non-public. Parkinson is meeting with corporate financing parties in Los Angeles this week, and will be discussing the Hannover House release slate and forecasts.
International pre-sales for "Mother Goose" and three other titles represented worldwide by Hannover House are projected to be the largest revenue contributors for the company during 2012. Foreign presales and licenses are expected to generate about 43% of total revenues, even after dividing the realization of revenues equally between contract date and delivery. Home Video sales are expected to generate about 36% of total 2012 revenues, and theatrical sales are forecasted at about 18% for the year. Television licenses and book sales are expected to generate together less than 3% of total revenues. Not included in these forecasts are sales for merchandising items supporting the release of "Toys in the Attic," and sales for the upcoming launch of the VODwiz.com internet streaming portal. Both items have been excluded from forecasts due to the lack of sales history at Hannover House. Home video sales for "Toys in the Attic" are expected to be recognized in January, 2013, rather than during calendar year 2012, based on the January street date, and not the date of manufacture and shipment (which is projected for mid-December) .
Revenues for 2013 are expected to grow significantly over 2012, based on modest projections for "Mother Goose," and conservative forecasts for 20 additional titles, including film output agreements with Origin Film Partners and Allegheny Image Factory.
Hannover House has been operating since 1993, and has posted nine consecutive quarters of profitability since becoming publicly traded on the OTC Markets. The company's primary offices are in N.W. Arkansas, but will expand this summer to include an ofice presence in Los Angeles to facilitate relationships with the production community, and corporate financing sources.
Management Discussion & Update Report on Various Corporate Matters
ITEM 6 – A regularly scheduled meeting of the principal managers of Hannover House, Inc., was held at 8:30 am, on Monday, November 26, 2012 at the Company’s offices in Springdale, Arkansas. In compliance with the OTC Market Guidelines for Current Reporting, following the meeting, management approved the release of the following statement concerning general operational activities for the Company:
6(a) – Approval of Release Schedule / Q1-2013– Company has completed the creation and preparation of marketing materials and applicable source / master elements for titles to be released into various media during December (2012) and into the first quarter of 2013. The following list is the approved schedule of releases for Hannover House in the applicable and various media as specified.
ANNOUNCED VIDEO TITLES NOT YET SCHEDULED: “25K”, “Darkstalkers”, “Conspiracy” and “Frankenstein: Day of the Beast.” Most of the recently acquired, unannounced titles (22) will likely be released during Q2 and Q3, 2013.
“BUDGET” PRICED MULTIPACKS & RE-RELEASES
Managers have elected to defer selection of formal release dates for the following re-priced releases and multi-packs, to better accommodate space availabilities with major retail accounts.
“Turtle: The Incredible Journey” – DVD repriced to $9.95 sugg. retail;
“All’s Faire In Love” – DVD repriced to $9.95 sugg. retail;
“Cook County” – DVD repriced to $9.95 sugg. retail;
“Teen Yoga” – DVD retitled as “Yoga Fit” and repriced to $9.95 sugg. retail;
“Family Movie Night” – DVD containing four family features, at $9.95 sugg. retail;
“Unexpendibles Pack” – DVD containing three action titles, at $9.95 sugg. retail;
“Martial Arts Marathon” – DVD containing nine martial arts titles, at $9.95 sugg. retail;
“Jules Verne Collection” – DVD containing three animated features, at $9.95 sugg. retail;
“HVZ Collector’s Edition” – DVD and BD Combo pack at $12.95 sugg. retail;
“Boggy Creek” – DVD is already placed in major accounts at $9.95 sugg. retail;
“Animal Clinic” – DVD repriced to $9.95 sugg. retail;
BOOK RELEASES (New Titles for E-Book and Print Editions)
January 29, 2013 – “Blind Vision” – Vivian Kaplan (Fiction);
February 19, 2013 – “One of the Lucky Ones” – Brenda Hancock (Non-Fiction);
March 19, 2013 – “Sable Shore” – James Danielson (Fiction);
Management Discussion & Update Report on Various Corporate Matters
ITEM 6 – A regularly scheduled meeting of the principal managers of Hannover House, Inc., was held at 8:30 am, on Monday, November 26, 2012 at the Company’s offices in Springdale, Arkansas. In compliance with the OTC Market Guidelines for Current Reporting, following the meeting, management approved the release of the following statement concerning general operational activities for the Company:
6(a) – Approval of Release Schedule / Q1-2013– Company has completed the creation and preparation of marketing materials and applicable source / master elements for titles to be released into various media during December (2012) and into the first quarter of 2013. The following list is the approved schedule of releases for Hannover House in the applicable and various media as specified.
HOME VIDEO / VOD TITLES (including DVD, Blu-Ray and Video-On-Demand)
December 18, 2012 – “Upon a Midnight Clear” (Holiday Themed Family Film / DVD);
ANNOUNCED VIDEO TITLES NOT YET SCHEDULED: “25K”, “Darkstalkers”, “Conspiracy” and “Frankenstein: Day of the Beast.” Most of the recently acquired, unannounced titles (22) will likely be released during Q2 and Q3, 2013.