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XA Files 10QSB Quarterly Report -- Company's Quarterly Revenue
Increases 5% to $2.69 Million
CHICAGO, May 17 /PRNewswire-FirstCall/ -- XA, Inc., (XA) (Nasdaq OTC BB:
XAIN), a major national event marketing firm that serves many Fortune 500
companies, today filed its quarterly report for the fiscal quarter ended March
31, 2005.
Highlights
* Revenue for the first quarter ended March 31, 2005 rose 5% to $2.69
million from $2.57 million in the same period a year ago
* Company generates new client acquisitions and new revenues through its
two recent acquisitions; Musters & Company and Fiori (Alice's Garden).
* XA appoints Bo Sandine as Director of Business Development for Southern
California
Revenue for the fiscal quarter ended March 31, 2005 rose 5% to $2.69 million
from $2.57 million in the same period a year ago. The Company reported a net
income of $44,587 or 0.01 per share, compared to a net income of $305,407 or
.01 per share for the same period in 2004. As of March 31, 2005, cash reserves
on the balance sheet rose 202.2% to $915,802 from $452,752 in 2004. Currently,
the number of shares outstanding is 3,516,250 with 805,703 shares in the public
float.
CEO Joseph Wagner of XA said, "First quarter results are in line with our
expectations. Our revenues continued to increase and the company is profitable.
We have significantly increased our cash position in the first quarter and have
positive working capital. We anticipate strong second quarter results which
will include revenues resulting from the Musters and Fiori acquisitions plus
continued organic growth."
Marketers spent $152 billion in event marketing in 2003, up about 15% since
2002. In 2003, budgets for event marketing reached an average of $901,935,
according to PROMO's 2004 Event Marketing Study. (Source: PROMO Magazine,
January 1, 2005)
Investors may view the Company's 10QSB filing at http://www.sec.gov/ .
About XA
XA has 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, the XA team has 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."
Forward Looking Statements
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. XA, Inc. (OTC BB: XAIN) 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.
For more information, please contact:
Company:
Amanda Puck
XA
312-239-2370
Investors:
Art Batson, President
Arthur Douglas and Associates
(407) 478-1120
DATASOURCE: XA, Inc.
CONTACT: Amanda Puck, XA, +1-312-239-2370, ;
Investors, Art Batson, President, Arthur Douglas and Associates,
+1-407-478-1120
Web site: http://www.expagency.com/