WisdomTree Issuer ICAV (TG:EXAG)
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The Experiential Agency Reports Revenue Rises 25.1% to $1.9
Million in Third Quarter 2004
Financial Highlights * Revenue in the third quarter, ended September 30, rises
25.1% to $1.9 million from $1.6 million in the year-earlier period; * Revenue
in the first nine months, ended September 30, climbs 88.4% to $7.4 million from
$3.9 million a year earlier; and * Net income in the first nine months advances
180.3% to $368,745, or $0.01 per share, from $131,548 in the first nine months
of last year. There is no EPS number for the first nine months of 2003 since
the Company was privately held at the time.
CHICAGO, Nov. 15 /PRNewswire-FirstCall/ -- The Experiential Agency, Inc., (XA)
(OTCBB: EXAG.OB), a major national event marketing firm that serves many
Fortune 500 companies, today reported strong financial results for the third
quarter of 2004, ended September 30.
Revenue in the quarter rose 25.1% to $1.9 million from $1.6 million in the same
period a year ago. Net income was $59,595, or $0.00 per share, compared to a
net loss of $28,035 for the same quarter in 2003. Gross profit rose 86.0% to
$1,082,594 from $582,059 for the same period last year.
For the first nine months of 2004, ended September 30, XA reported that revenue
climbed 88.4% to $7.4 million from $3.9 million in the first nine months of
last year. Net income for the period gained 180.3% to $368,745, or $0.01 a
share, from $131,548 for the same period last year. There is no EPS number for
the first nine months of 2003 since the Company was privately held at the time.
Gross profit for the period climbed 109.4% to $3.3 million from $1.6 million
for the same period last year. As of September 30, 2004, cash reserves on the
balance sheet rose 925.7% to $2.2 million from $211,226 in 2003.
Chairman and CEO Frank Goldstin of XA, said, "XA continues its profitable
expansion, according to the business strategy the company is pursuing. The
acquisitions we have made so far have contributed to our profitability as well
as helping us to attract more event planning business. We are moving ahead
forcefully to uncover more acquisitions that will complete our line of service
offerings for event planning to the nation's largest and most prestigious
organizations."
"We continue to make investments in building up our organization, adding key
staff and expanding our marketing program so that it supports our vision of
creating world-class events for our high profile clients," he added.
Among the achievements in the third quarter, the company:
* Completed the second tranche of a $2.5 million financing commitment
through a private placement to institutional investors to carry forward
its acquisition program;
* Added Jake Spitz to spearhead new business development in the New York
City area; and:
* Staged exemplary events for such important clients as Intercontinental
Hotels & Resorts, ER Communications, for which XA is now Event
Marketing Agency of Record, and BT America's 2nd Annual Charity Gala.
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 XA
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, Disney, McDonald's, British Telecom, Song
Airlines, Eurex, Olympus, Salvatore Ferragamo, Vogue, W Hotels, ABN AMRO and
Emirates Airline.
In 2003 and 2004, 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. (OTC BB: 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.
XA Investor Relations Media Relations
Lara Shipp Truc N. Nguyen Stan Froelich
312-397-9100 ext. 2399 VP, Investor Relations VP, Media Relations
Stern & Co. 212-888-0044
212-888-0044
DATASOURCE: The Experiential Agency
CONTACT: Lara Shipp of XA, +1-312-397-9100 ext. 2399,
; Investor Relations: Truc N. Nguyen, VP, Investor
Relations, +1-212-888-0044, , Media Relations: Stan
Froelich, VP, Media Relations, +1-212-888-0044, , both of
Stern & Co., for The Experiential Agency
Web site: http://www.expagency.com/