Revenue Increased Sequentially Due to
g-Spout® Product Sales
BELLEVUE, WA,
Oct. 15 /PRNewswire-FirstCall/ - The
Tradeshow Marketing Company Ltd. (Pink Sheets: TSHO), a direct
sales company that represents and markets unique consumer products
in diverse sales environments, today announced results for the
Company's fiscal first quarter 2011 ended August 31, 2010.
Revenue for the fiscal 2011 first quarter was
$167,970 as compared to $12,926 for the fiscal 2010 fourth quarter. The
sequential increase in revenue is due to sales of the Company's
g-Spout® utensil in the specialty catalog and direct sales
channels. Total orders since Tradeshow acquired rights to the
product now amount to approximately $600,000. The Company continues to receive
product orders from established customers and inquiries from
potential new customers in North
America and international markets.
Net loss for the fiscal first quarter was
$422,965, or ($0.02) per share, compared to a net loss of
$323,889, or ($0.01) per share in the fourth quarter. Net loss
for the first quarter includes non-recurring expenses of more than
$155,000 consisting of costs related
to media buying for product test campaigns, campaign management
fees and recruiting expenses.
Cash and cash equivalents at August 31, 2010, was $189,319. The decline in cash in the first
quarter reflects cash used in operations and an increase of
approximately $225,000 in working
capital investment for manufacturing, inventory and accounts
receivable to support the increase in g-Spout product sales.
Accounts receivables and inventory were approximately $154,852 and $94,190, respectively.
In addition to the continued development of
product sales initiatives, the Company has refined its product
positioning and streamlined operational costs to improve
efficiencies and reduce expenses. These efforts include
reassignment of campaign management to internal staff, the shift to
wholesale marketing, and utilization of internal resources for
product marketing and sales. The Company also completed
re-positioning efforts for the g-Spout in order to better align
with the needs of retail outlets that have reviewed the product
ahead of possible retail introduction.
"The first quarter reflects the Company's
efforts to expand sales of the g-Spout product and the required
costs associated with these efforts," stated Luniel de Beer, President and CEO of Tradeshow
Marketing. "In addition to fulfilling our wholesale orders, the
Company is actively working with our partners to identify
international market opportunities in the areas of direct response
and retail sales channels. While we remain focused on ramping
revenues, the Company has undertaken a number of initiatives to
reduce corporate expenses and lower future costs on such items as
product media testing and campaign management fees. We are also
exploring options related to the capital needs of the business to
further expand the retail sales of g-Spout and to bring additional
products to market. We look forward to continued progress on these
sales initiatives, while we closely manage the financial
requirements of the Company."
For more information about Tradeshow Marketing,
please visit the Company's web site at www.tsho.com. Shareholders
of Tradeshow Marketing who would like to be added to the Company's
email distribution list can send their contact information to
ir@tsho.com.
About The Tradeshow Marketing Company
The Tradeshow Marketing Company Ltd. is a publicly traded
consumer-products company focused on the development and
distribution of unique products that have broad appeal and improve
the lives of consumers. The company operates a Direct to Consumer
(D2C) Commerce business in North
America, and markets and sells products through various
channels such as trade shows and exhibitions, Direct Response
Television (DRTV), printed catalogs and magazines, retail stores,
and product-specific e-commerce web sites. The company was
established in 2003, and is headquartered in Bellevue, Washington.
All company or product names used are the
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used for information purposes only and to their owners' benefit,
without intent to infringe.
Safe Harbor Statement
This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
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of risks and uncertainties that could cause future circumstances,
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may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in the company's SEC filings.
SOURCE Tradeshow Marketing Company Ltd.
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