SOURCE: United Communications Partners Inc.

United Communications Partners Inc.

April 20, 2011 09:00 ET

United Communications Partners Inc. Improves Statement of Operations and Balance Sheet in Fiscal 2010

NEW YORK, NY--(Marketwire - Apr 20, 2011) - United Communications Partners Inc. (OTCQB: UCPA), an innovative integrated U.S. advertising and performance-based marketing company with a multinational client base, announced yesterday its audited financial statements for the fiscal year 2010, with significant improvements in both Statement of Operations and Balance Sheet as compared to fiscal year 2009.

CFO Ulrik Gerdes stated, "Compared to fiscal year 2009 we decreased our net loss from $2,569,000 to $916,000 and improved our net working capital deficit by approximately $2,900,000. Moreover, we increased our stockholder equity by $5,212,000, from a negative $2,971,000 in FY 2009 to a positive $2,241,000 for FY 2010. We are especially satisfied with our Swedish subsidiary Tre Kronor Media AB, which, during its eight months as a partner in United Communications Partners Inc., contributed with an after-tax profit of approximately $151,000 and continues to grow both organically and through its recent acquisition of a 30% interest in the Norwegian media company InSight AS.

Chairman Lars Thomassen declared, "Our growth in Sweden combined with the closing of non-profitable Danish operations brings us closer to consolidated profitability and has established a financial platform from which our future growth will be less dependent on outside funding."

CEO Niclas Fröberg emphasized, "The numbers clearly show that our ambition to cut cost and improve revenue and profit is on the right path. This will support our strategy to speed up the expansion of our network by acquiring an initially smaller ownership in more companies, predominately paid in shares."

Investors are referred to the Company's Annual Report on Form 10-K for the year ended December 31, 2010, filed with the Securities and Exchange Commission on April 15, 2011 for a complete discussion of the Company's operating results and financial condition for the year ended December 31, 2010.

About United Communications Partners Inc.
United Communications Partners Inc. is a pioneering U.S. communications company aiming to create a network of multiplatform media and advertising houses by acquiring profitable and innovative media and advertising companies in order to rapidly expand its presence in the U.S. and Europe. Through its growing network of companies, United Communications Partners is adding more competencies and media under one roof, expanding its customer and revenue base and ultimately winning significantly larger international clients.

Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned", "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company's annual report on Form 10-K and other filings made by such company.

For more information about United Communications Partners Inc. visit www.ucpworld.com or contact Stanley Wunderlich at (800) 625-2236, extension 7770, or info@cfsg1.com.

Contact Information

  • CONTACT:
    Stanley Wunderlich
    Consulting For Strategic Growth 1, Ltd.
    880 Third Ave, 6th Floor
    New York NY 10022
    Telephone: (800) 625-2236 ext. 7770
    e-Fax: (646) 205-7771
    Email: Email Contact