SOURCE: CreditRiskMonitor


March 20, 2017 12:39 ET

CreditRiskMonitor 2016 Operating Results

CreditRiskMonitor reports operating results for the year ended December 31, 2016

VALLEY COTTAGE, NY--(Marketwired - Mar 20, 2017) - CreditRiskMonitor (OTCQX: CRMZ) reported that revenues for the year ended December 31, 2016 increased 3% to $12.81 million compared to fiscal 2015. Net income for fiscal 2016 was approximately $52,400 compared to $513,200 in the prior year. Cash, cash equivalents and marketable securities at the end of 2016 increased to $9.22 million from the 2015 year-end balance of $8.96 million.

Jerry Flum, CEO, said, "2016's reported earnings were negatively impacted by our decision to increase our investment in new marketing infrastructure and programs. The head of this marketing effort resigned mid-year, and this initiative fell short of our 2016 plans. We have hired a new marketing leader, and expect to see the positive impact of this investment in 2018. We're still debt-free and our strong balance sheet provides us with financial flexibility to manage our company for long-term results."

    2016     2015  
Operating revenues   $ 12,814,390     $ 12,486,316  
Operating expenses:                
  Data and product costs     4,944,053       4,665,360  
  Selling, general and administrative expenses     7,495,742       6,685,528  
  Depreciation and amortization     200,136       218,621  
    Total operating expenses     12,639,931       11,569,509  
Income from operations     174,459       916,807  
Other income, net     27,183       2,344  
Income before income taxes     201,642       919,151  
Provision for income taxes     (149,199 )     (405,965 )
Net income   $ 52,443     $ 513,186  
Net income per share of common stock:                
  Basic   $ -     $ 0.05  
  Diluted   $ -     $ 0.05  
DECEMBER 31, 2016 AND 2015  
    2016     2015  
Current assets:                
  Cash and cash equivalents   $ 9,222,343     $ 8,717,899  
  Marketable securities     --       245,474  
  Accounts receivable, net of allowance of $30,000     2,090,676       1,927,428  
  Other current assets     487,257       555,871  
    Total current assets     11,800,276       11,446,672  
Property and equipment, net     430,324       395,026  
Goodwill     1,954,460       1,954,460  
Other assets     23,763       33,999  
    Total assets   $ 14,208,823     $ 13,830,157  
Current liabilities:                
  Deferred revenue   $ 8,088,958     $ 7,436,764  
  Accounts payable     96,725       78,267  
  Accrued expenses     1,282,126       1,241,317  
    Total current liabilities     9,467,809       8,756,348  
Deferred taxes on income, net     762,403       759,454  
Other liabilities     12,574       4,314  
    Total liabilities     10,242,786       9,520,116  
Stockholders' equity:                
  Preferred stock, $.01 par value; authorized 5,000,000shares; none issued     --       --  
  Common stock, $.01 par value; authorized 32,500,000shares; issued and outstanding 10,722,401 and10,722,321 shares, respectively    
  Additional paid-in capital     29,419,463       29,279,791  
  Accumulated deficit     (25,560,650 )     (25,076,973 )
    Total stockholders' equity     3,966,037       4,310,041  
    Total liabilities and stockholders' equity   $ 14,208,823     $ 13,830,157  

About CreditRiskMonitor

CreditRiskMonitor ( is a web-based publisher of financial information that helps corporate credit and procurement professionals stay ahead of business financial risk quickly, accurately and cost effectively. The service offers comprehensive commercial credit reports and financial risk analysis covering public companies worldwide. Unlike other commercial credit bureaus like Dun & Bradstreet, CreditRiskMonitor's primary expertise and focus is on financial analysis of public debt and equity companies.
The Company also collects more than $100 billion of trade receivable data on both public and a select group of private companies every month, to help subscribers determine payment performance.

Over 35% of the Fortune 1000 depend on CreditRiskMonitor's timely news alerts and reports featuring detailed analyses of financial statements, ratio analysis and trend reports, peer analyses, bond agency ratings, as well as the company's proprietary FRISK® score.

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