WisdomTree Issuer ICAV (TG:EXAG)
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The Experiential Agency Announces Year End Results and Provides
Update Regarding Investor Relations Materials
CHICAGO, April 23 /PRNewswire-FirstCall/ -- The Experiential Agency, Inc.
("XA" or the "Company") (Nasdaq; OTC Bulletin Board: EXAG) a major national
event marketing firm that serves many Fortune 500 companies, reported its
results for the year ended December 31, 2003.
Sales revenue for the fiscal year ended December 31, 2003 increased $1,852,343
(or 51%) to $5,468,895 as compared to $3,616,552 for the fiscal year ended
December 31, 2002. Cost of goods sold as a percentage of revenue for the year
ended December 31, 2003 decreased to 46% of gross revenue at $3,388,816 as
compared to 64% of gross revenue at $2,326,406 for the fiscal year ended
December 31, 2002. Gross profit increased $789,933 or 61% from $1,290,146 for
the year ended December 31, 2002 to $2,080,079 for the year ended December 31,
2003. Gross profit as a percentage of sales increased to 38% for the fiscal
year ended December 31, 2003 from 36% for the fiscal year ended December 31,
2003. Income from operations increased $131,000 from a loss from operations of
$75,283 to income from operations of $55,717. Net income increased $89,422
from a net loss of $75,138 for the year ended December 31, 2002 to net income
of $14,284 for the year ended December 31, 2003. The substantial increase in
revenues was due to new clients acquired in the New York and Los Angeles
markets and additional projects with XA's current clients. The shift from a net
loss to net income was due to the increased revenues and the decrease in cost
of goods sold as a percentage of revenues. Financial highlights, in thousands
of US dollars (except percentage and per share data), are:
THE EXPERIENTIAL AGENCY
CONSOLIDATED INCOME STATEMENT
For the Years Ended December 31, 2003 and 2002
2003 2002
------------ ------------
Revenues
Sales $ 5,468,895 $ 3,616,552
Cost of goods sold
Direst production costs 3,388,816 2,326,406
------------ ------------
Gross profit 2,080,079 1,290,146
Administrative expense 2,024,362 1,365,429
------------ ------------
Income from operations 55,717 (75,283)
Other income and expenses
Interest income (750) (1,561)
Other expenses 42,183 1,416
------------ ------------
41,433 (145)
------------ ------------
Net Income (Loss) $ 14,284 $ (75,138)
============ ============
Earnings (loss) per share $ - $ -
Average shares outstanding 37,383,336 35,987,003
"We are very excited about our financial results and our continued expansion
both nationally and globally," stated Frank Goldstin, the Company's Chief
Executive Officer. "We are embarking on an aggressive expansion plan which we
believe will position XA as a leader in the event management industry," further
stated Goldstin.
Investor Relations Update
The Company has been provided with investor relations materials prepared and
distributed by a third party. The Company did not pay for the preparation and
distribution of the materials that were prepared. Principals of the Company
previously shared information about the Company with individuals in connection
with a reverse merger transaction and there is information about the Company on
its SEC filings.
A third party made statements that shares in the Company could rise 400% and
500% during various time frames. The Company does not make any predictions
regarding share price and disclaims any association or predictions regarding
its share price made by third parties. The third party stated that the Company
has "over $6 million in annual revenues" when in fact the Company had revenues
of approximately $5.5 million for the year ended December 31, 2003. The third
party computed various price/sales ratios and made comparisons based on 50.6
million shares outstanding, when the Company has approximately 58 million
shares outstanding. In addition, the comparisons do not take into account the
issuance of additional shares for acquisitions. The Company and its management
did not pay for or approve the information prepared and released by such third
party.
The Company has seen an increase in volume in the trading of its stock and
wants to advise investors to be cautious about the origin of information about
the Company. Insiders of the Company are not buying or selling shares and they
own only restricted securities.
About XA
The Experiential Agency, Inc. with offices in Chicago, Los Angeles, and New
York, is a leading provider of event services for corporations, associations,
and other organizations in the United States and internationally. The firm is
vertically integrated to offer clients a single source solution for their
business communications and event management needs.
The firm's services include event marketing, design and production, meetings,
conferences and trade shows, entertainment and show production, business
theater, mobile marketing, audio/visual production, and logistics management.
Additional information on XA can found at the Company's web site
http://www.expagency.com/.
In 2003, XA was ranked one of the "Top 50 Powerhouse Event Companies in the
World" by Special Events Magazine, as well as one of the "Top Event Marketing
Agencies" by Event Marketer Magazine. Today, XA is focused on taking major
corporate meetings and product marketing events to new levels of audience
experience through sensory marketing -- touch, taste, sight, sound, and smell.
This sensory marketing capability enables audiences to "live the event" -- not
just hear or see a business message. The XA team has been the creative force
behind prestigious live, sensory events for clients such as McDonald's
Corporation, Song Airlines, Salvatore Ferragamo, Vogue, W Hotels and ABN AMRO.
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. In particular, when used
in the preceding discussion, the words "believes," "expects," "intends,"
"will," "anticipated," or "may," and similar conditional expressions are
intended to identify forward-looking statements within the meaning of the Act
and are subject to the safe harbor created by the Act. Except for historical
information, all of the statements, expectations and assumptions contained in
the foregoing are forward-looking statements that involve a number of risks and
uncertainties. It is possible that the assumptions made by management are not
necessarily the most likely and may not materialize. In addition, other
important factors that could cause actual results to differ materially include
the following: business conditions and the amount of growth in the company's
industry and general economy; competitive factors; ability to attract and
retain personnel; the price of the Company's stock; and the risk factors set
forth from time to time in the Company's SEC reports, including but not limited
to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and
any reports on Form 8-K. The Experiential Agency, Inc. takes no obligation to
update or correct forward-looking statements and also takes no obligation to
update or correct information prepared by third parties that is not paid for by
the Company.
DATASOURCE: The Experiential Agency, Inc.
CONTACT: Pat Gitt of Rubenstein Associates, Inc. Public Relations,
+1-212-843-8038, for The Experiential Agency, Inc.