SOURCE: TheDirectory.com, Inc.
TAMPA, FL--(Marketwired - Dec 19, 2013) - TheDirectory.com, Inc. (PINKSHEETS: SEEK), an emerging leader in the vertical and Local search space, today announced its preliminary financial results for its full fiscal year ended November 30th, 2013.
During the Year ended November 30, 2013, TheDirectory.com, Inc. generated total sales of $780,163 versus prior year sales of $506,026 resulting in year over year top-line growth rate of 54%. During 2013 the Company posted net income of $109,153 versus 2012 profits of $6,776 for a gain of over 1,600%. On the balance sheet, assets grew from $396,200 in 2012 to $3,335,086 at the end of 2013 for a gain of 840%. The Company will file its audited results in the form 10 to become fully reporting with the Securities and Exchange Commission in January.
TheDirectory.com founder and CEO Scott Gallagher stated, "We're pleased to report our 5th consecutive year of top-line revenue growth and our second consecutive year of profitability. We've now turned the corner and established the Company as a player, albeit a small one at this point, in the Local search space. "
Gallagher continued, "In January we'll become an SEC exchange act reporting Company and will have completed 3 years of audited financials in just the 3-months time. The Company, our auditors and lawyers are actively working on the form 10. We'll file the document with the SEC on January 23rd, a full five weeks before the filing deadline for fully reporting Companies. At that point the up-listing will be complete and we'll no longer be a Pink Sheet Company. We plan to host an investor call after the market closes on January 23rd to discuss the up-listing and provide shareholders with a mid-quarter update. While we're not giving specific revenue guidance for Q1 at this point, I can say this, our Q1 revenue level will beat what we did for the entire year in 2013 and we will be profitable."
About TheDirectory.com, Inc.
www.TheDirectory.com network includes over 2,000 locally targeted Internet domains and websites that generate over 6 million unique users a month. The Company owns and operates vertical directories such www.PodiatristProfiles.com, www.Chiropractor.net, www.Therapists.net, www.Dietitians.net, www.DentistAppointments.com and others. The Company also owns and operates one of the world's largest city guide networks under the www.HelloNetwork.com brand. For more information see the company's financial statements and related filings on www.OTCMarkets.com or www.SEC.Gov.
Certain statements contained herein are "forward-looking" statements (as defined -- Private Securities Litigation Reform Act of 1995). TheDirectory.com, Inc. cautions that the statements made in this press release constitute forward-looking statements and no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.