Hannover House Posts Significant Revenue and Profit Increases During Q4, 2013
January 29 2014 - 6:35AM
Access Wire
Springdale, AR / January 29, 2014 / ACCESSWIRE / Hannover House,
Inc. (OTC: HHSE), a leading independent distributor of films, books
and entertainment products, reported that gross revenues for the
fourth quarter, ending December 31, 2013, increased by
approximately 390% over the same quarterly period in the previous
year.
Gross revenues for the Q4 reporting quarter were $1,153,136 with
pre-tax net income of approximately $279,268. This is the sixteenth
consecutive quarter of profitability for Hannover House since the
company became publicly traded in January, 2010. Management
believes that the growing revenue results validate the business
plan of balancing low-investment, direct-to-video and
video-on-demand releases with higher-profile theatrical titles as a
means to maximize revenues and bottom line results. As first noted
in the prior quarter, the Q4 results also reflect sales revenues
from international licensing of films, representing a significant
new media income stream for the studio.
Gross revenues for last year's fourth quarter (2012) were
$295,822. For the current 2013 reporting period, sales revenues of
$1,153,136 represents a significant increase from last year's Q4
results. Net (pre-tax) income for Q4, 2012 was $107,081 as compared
to net (pre-tax) income for the just ended period in 2013 of
$279,268, representing an increase in the company’s bottom line of
261%.
Principal revenue components for Hannover House in Q4 of this
year were direct sales of DVD and Blu-Ray units, Video-On-Demand
revenues, new release books and international sales licenses.
Top-selling titles for each of the principal revenue-generating
categories include "Amityville Asylum"
(DVD), "Toys in the Attic"
(Blu-Ray), "All’s Faire In Love"
(Video-on-Demand), "One of the Lucky
Ones" (new release books) and "Mother
Goose" (international sales). Initial shipments
of the new release drama, “Blues for Willadean”
were also included in the Q4, 2013 results, although the on-sale
street date for that item is a Q1, 2014 event.
Full financials for the Q4 period, and the entire 2013 year,
will be released next week on the OTC Markets site, as well as
through S.E.C. Edgar filings. Ongoing audit activities for Hannover
House may impact the categorization and recognition of some of the
company’s capitalized costs and investments customarily appearing
on the balance sheets; as such, current Q4 balance sheets are not
being published as of the date of this revenues release, but will
be included within the year-end results.
Hannover House believes that the company is ideally suited for
rapid growth during 2014 and 2015. Newly announced activities to
develop major motion pictures with a variety of pre-sale and
non-recourse financing structures will provide Hannover House with
high profile theatrical releases that could significantly increase
revenues, profits and corporate stature. Additionally, a consumer
roll-out launch of the video-on-demand venture, “VODwiz.com” (and
an IPTV VODwiz channel) could generate parallel revenue paths with
a business plan combining elements of the Netflix streaming
structure with the Redbox discount pricing model. While developing
these new revenue streams, Hannover House will continue to operate
its core business of monthly DVD and V.O.D. releases, with
additional release activity occurring with book publishing and
theatrical activities throughout the year.
Key retail accounts for Hannover House include Walmart Stores,
Inc., Redbox, Netflix, Barnes & Noble and thousands of
independent video retailers, schools, libraries and booksellers.
The company also sells entertainment products to a wide range of
internet sites, and services most major video-on-demand portals.
Hannover House stock is traded on the OTC Markets under ticker
symbol: HHSE.
SAFE HARBOR STATEMENT
This press release may contain certain forward-looking
statements within the meaning of Sections 27A & 21E of the
amended Securities and Exchange Acts of 1933-34, which are intended
to be covered by the safe harbors created thereby. Although the
company believes that the assumptions underlying the
forward-looking statements contained herein are reasonable, there
can be no assurance that these statements included in this press
release will prove accurate.
For more information contact:
Eric Parkinson, Hannover House, 479-751-4500 /
Eric@HannoverHouse.com
Source: Hannover House, Inc.
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