SOURCE: myPhotopipe.com, Inc.

myPhotopipe.com, Inc.

August 23, 2010 17:36 ET

myPhotopipe.com Reports Record Revenue and Operating Income for First Half of 2010

Second Quarter Revenues Rise 26%

SCOTTSDALE, AZ--(Marketwire - August 23, 2010) -  myPhotopipe.com, Inc. (PINKSHEETS: MPPC) is a national, on-line, digital, photo processing and services company. It has over 25,000 customers and serves professional photographers and corporate clients in all 50 states through its website www.myphotopipe.com. Today, the Company announced its operating results for the second quarter and first half of 2010.

CFO Bill LeRoy announced that revenues increased 26.2% to $437,224 in the quarter ended June 30, 2010, compared with $346,314 in the corresponding period of the previous year. Income from operations totaled $14,462, compared with an operating loss of ($34,913) in the corresponding period of the previous year. For the six months, ended June 30, 2010, revenues increased 15.0% to $770,665, versus $669,857 in the first half of 2009. Income from operations improved to $17,715, compared with an operating loss of ($59,566) in the six months ended June 30, 2009.

"This represents our third consecutive quarter of record revenues and is an important validation of the various management initiatives that were implemented in the third and fourth quarters of 2009," stated Robert Quick, Chief Executive Officer of myPhotopipe.com, Inc. "These measures are continuing to move the Company forward and have provided a solid foundation for future growth and profitability." 

Darren Schiff, the Company's Chief Operating Officer, commented, "The second quarter clearly illustrates that the process of expanding professional products and services for our customers is moving into high gear. In April, we added new equipment necessary to bring high-margin gallery wraps and gator board backed large prints in-house. In May, we launched Reallife Photobooks through a strategic relationship with Proven Direct Inc. These initiatives have positioned MPPC to participate more directly in a rapidly growing professional market with premium products."

"We added new templates and features to our ROES catalogs in June that will allow professional photographers to expand into the team sports and school picture markets," added Schiff. "Of strategic significance to our future, in June myPhotopipe began wholesale production for Fotki Inc. Our goal is to produce 25% of our revenues from wholesale accounts." 

"To improve our customers' experience, in May we contracted with a Scottsdale-based web development company, Venture Serve, LLC, to update both the appearance and functionality of the myPhotopipe.com website. The Company anticipates a September launch for the revision, which will provide important analytical capabilities to evaluate the effectiveness of various Google adword campaigns. It will also improve our ability to leverage and promote the myPhotopipe brand through such social networking conduits as Facebook, Twitter and a wide range of blogs dedicated to professional photographers," concluded Schiff. 

About myPhotopipe.com, Inc.

myPhotopipe.com, Inc. is a web-based online provider of digital photo processing, photo finishing, photo-sharing, and related services. The Company's unique blend of 1000 print options, combined with manual print inspections and professional color management, have positioned myPhotopipe.com as one of the fastest-growing providers of digital photography services for professionals and serious amateurs.

The Company headquarters in Scottsdale, Arizona with operations in Atlanta, Georgia. myPhotopipe common stock lists on the OTC Pink Sheets under the symbol "MPPC." Additional information is available on the Internet at www.myPhotopipe.com.

"Safe Harbor" Statement

This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934, and is subject to the safe harbor created by those sections. The forward-looking information is based upon current information and expectations regarding myPhotopipe.com, Inc. These estimates and statements speak only as of the date on which they are made, are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecasted in such forward-looking statements.

myPhotopipe.com, Inc. assumes no obligation to update the information contained in this press release. myPhotopipe.com, Inc.'s forward-looking statements in this press release and future results may be materially impacted by any number of factors, any or all of which could have a negative impact on sales, operating results, financial and budgetary constraints. The statements made herein are independent statements of myPhotopipe.com, Inc. The inclusion, if any, of any third parties does not represent an endorsement of any myPhotopipe.com, Inc. products or services by any such third party.

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