Announces First Quarter 2008
JACKSONVILLE, Fl. — May 15, 2008 -
a21, Inc. ("a21") (OTCBB: ATWO), a leading online digital content
marketplace, today reported its financial results for the first quarter ended
March 31, 2008.
for the first quarter of 2008 was $5.1 million compared to $6.1 million for the
same prior year period. Total cost of sales for the first quarter of
2008 were $2.3 million, or 45% of revenues, compared to $2.3 million, or 38% of
revenues, for the same prior year period. The decline in revenue is attributed
to challenging market conditions.
quarter 2008 selling, general, and administrative expenses of $3.2 million were
down approximately $500,000, compared to the same prior year period. The year
over year decrease can be attributed to the Company’s efficiency improvement and
cost control initiatives. Depreciation and amortization expense for the first
quarter of 2008 was $587,000.
loss for the first quarter of 2008 was $1.4 million, or $0.02 per fully diluted
share, compared to a net loss of $1.0 million, or $0.01 per fully diluted share,
for the same prior year period. At March 31, 2008, the Company’s cash position
was $1.1 million and working capital was $570,000.
Ferguson, Chief Executive Officer of a21, said, “We remain focused on
positioning a21 in order to best leverage its strengths. Despite the
challenging market conditions, we have continued to reduce costs and improve
organizational efficiency. We believe that we can leverage our
marketing initiatives into improved performance as we look for market conditions
to stabilize in the near-term.”
a leading online digital content company. Through SuperStock (www.superstock.com;
and ArtSelect (www.artselect.com),
a21 delivers high quality images, art framing, and exceptional customer service.
a21 and its companies, with offices in Florida, Iowa, and London, provide
valuable and viable choices to key business partners and customers in the stock
image, art and wall decor industries.
statements contained in this press release contain certain forward-looking
statements, including statements regarding a21, Inc.'s expectations, intentions,
strategies, and beliefs regarding the future. All statements contained herein
are based upon information available to a21, Inc.'s management as of the date
hereof and actual results may vary based upon future events, both within and
without the control of a21, Inc.'s management.
The following information was filed by A21, Inc. on Monday, May 19, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.