WisdomTree Issuer ICAV (TG:EXAG)
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The Experiential Agency Reports Revenue Rises 109.6% to $2.88
Million in Second Quarter of 2004
Financial Highlights
CHICAGO, Aug. 16 /PRNewswire-FirstCall/ -- The Experiential Agency, Inc. (XA)
(OTCBB: EXAG), a major national event marketing firm that serves many Fortune
500 companies, today reported strong financial results for the second quarter
of 2004, ended June 30.
Revenue in the quarter rose 109.6% to $2.88 million from $1.38 million in the
same period a year ago. Net income for the quarter was $3,743 versus $156,384
for the same quarter in 2003. Gross profit rose 34% to $870,034 from $646,243
during the same period last year.
For the first half of 2004, ended June 30, XA reported that revenue climbed
130.4% to $5.46 million from $2.37 million in the first half of last year. Net
income for the period gained 93.7% to $309,150, or $0.01 a share, from $159,583
for the same period last year. There is no EPS number for the first half of
2003 since the Company was privately held at the time.
Gross profit for the period climbed 123% to $2.2 million from $986,725 for the
same period last year. As of June 30, 2004, cash reserves on the balance sheet
rose 603.9% to $1.6 million from $221,716 in 2003.
Chairman and CEO Frank Goldstin of XA, said, "We are proud of the progress XA
has made this year. We are gaining market share in a vibrant event marketing
industry and proving that our strategy of providing Corporate America with
imaginative and exciting events and conference environments is fulfilling a
real and growing need."
"In the past six months, we have made some giant strides," Goldstin added. "Our
strong performance during the first half of the year has proven the value of
our expansion strategy. With the opening of the design center in Chicago and
creative momentum of XA's new design team, we expect that our business will
continue to grow strongly in the months ahead."
In the first half, the company made significant investments in its expansion
program:
-- Opened new offices in landmark building in Chicago's prestigious
Hancock Center;
-- Named new creative director, Darren Andereck, an award-winning designer
and former co-owner of Alice's Garden; and
-- Subsequent to June 30, XA closed on its acquisition of Alice's Garden,
a Chicago floral and event decor firm.
The event marketing industry generates nearly $80 billion a year in direct
spending, according to a study by Deloitte & Touche LLP. Moreover, corporate
spending on event marketing has been growing; it rose 15% in 2003 and it is
predicted to generate an additional 15%-to-20% growth in 2004. (Source: PROMO
Magazine)
About The Experiential Agency, Inc.
The Experiential Agency, Inc. (XA) has full service offices in Chicago, New
York and Los Angeles from which it provides corporations and highly visible
brands with comprehensive Event Marketing, Design and Production Services.
Since 1989, Chairman and CEO Frank Goldstin and his team have been the creative
force behind prestigious, national projects for such clients as The NBA,
McDonald's Corporation, Song Airlines, Eurex, Olympus, Salvatore Ferragamo,
Vogue, W Hotels, ABN AMRO and Emirates Airline.
In 2003, Special Events magazine ranked XA as one of the "Top 50 Powerhouse
Event Companies in the World."
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. (OTCBB: EXAG) 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.
Company Investor Relations Media Relations
Lara Shipp Truc N. Nguyen Stan Froelich
XA Stern & Co. Stern & Co.
312-397-9100 ext. 2399 VP, Investor Relations VP, Media Relations
212-888-0044 212-888-0044
DATASOURCE: Experiential Agency, Inc.
CONTACT: Lara Shipp of XA, +1-312-397-9100 ext. 2399,
; or Investor Relations, Truc N. Nguyen, VP, Investor
Relations, +1-212-888-0044, , or Media Relations, Stan
Froelich, VP, Media Relations, +1-212-888-0044, , both
of Stern & Co.
Web site: http://www.expagency.com/