Mastermind Reports Fiscal 2018 3rd Quarter Results of 57% Revenue Growth Year-over-Year for Nine-Month Period End
ATLANTA--(BUSINESS WIRE)--Aug 23, 2018--Mastermind, Inc. (OTC Pink: MMND), a leading involvement marketing service agency that designs, creates and develops marketing campaigns, primarily for large corporate clients with well-known brands, today announced financial results for its fiscal 2018 third quarter ended June 30, 2018 resulting in year over year growth in both revenues and net income for the three and nine month periods.
Total revenues for the three months and nine months ended June 30, 2018 were $1,460,050, compared with $1,043,731 for the prior year’s comparable period, an increase of approximately 40% and for the 9 months ended June 30, 2018, $3,670,474 as compared with $2,344,188 for the prior year’s comparable period, an increase of approximately 57%.
Gross profit for the three month period ended June 30, 2018 was $1,163,440, compared with $766,424, for the prior year’s comparable period, an increase of approximately 52%, and Gross Profit for the nine month period ended June 30, 2018 was $3,138,444 compared to $1,637,411 for the prior year’s comparable 9 period, an increase of approximately 92%.
General and administrative expenses for the three months ended June 30, 2018 was $792,494, compared with $581,276 for the prior year’s comparable period, an increase of approximately 36%, and for the 9 months ended June 30, 2018, $2,458,222 as compared with $1,682,153 for the prior year’s comparable period, an increase of approximately 46%.
Net income for the three-month period ended June 30, 2018 was $279,959, compared with $183,498 for the prior year’s comparable period, an increase of approximately 53%. Net income for the nine-month period ended June 30, 2017 was $481,880, compared with a net loss of ($60,418) for the prior year’s comparable period, an increase of approximately $542,000, an 898% increase.
As of June 30, 2018, we had cash and cash equivalents of $555,922 as compared with $545,904 as of September 30, 2017.
Daniel Dodson, President and CEO of Mastermind, Inc. stated, “We are very pleased with the quarter and the revenue growth for the fiscal year thus far. We continue to expand our relationships with existing clients and are beginning to see traction from our business development initiatives. Mastermind is also perfecting competencies that will keep the agency on the cutting edge of digital and social marketing and in demand among leading brands. We believe these factors should support sustainable revenue and profitability growth from our core business, and allow us to pursue strategic opportunities and partnerships to augment that growth.”
Michael Gelfond, EVP of Mastermind, Inc. stated, “The culture at Mastermind is one that attracts cross-discipline expert talent. Our talent earns the trust of our clients through exceptional work and our work ethic. Mastermind’s ongoing investment in people will continue to drive results for clients and growth for Mastermind.”
Detailed financial information can be found in our Quarterly Report on Form 10-Q as of and for the period ended June 30, 2018 which was filed with the Securities Exchange Commission on August 20, 2018.
About Mastermind, Inc.
Mastermind, Inc. provides thinking that drives results for leading marketers. It has over 30 years of experience in dozens of industries helping involve people with brands in ways that inspire them to take action. Mastermind has a total, data-driven approach that drives brand consideration, trial, loyalty, and advocacy. The company has extensive marketing expertise in Content, Digital, Influencer, Social, Promotion, Channel Optimization, and Contingency Communications. This allows Mastermind to create and execute multi-dimensional campaigns that drive results. More information about Mastermind, Inc. is available at its website: www.MastermindMarketing.com.
This press release of Mastermind, Inc. (the “Company”) contains, or may contain, among other things, certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission. Actual results (including, without limitation, market acceptance of the Company’s services; competition from existing products/services or new products/services that may emerge; the implementation of the Company’s business model and strategic plans for its business and its services; estimates of the Company’s future revenue, expenses, capital requirements and need for financing; and developments relating to the Company’s competitors) may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
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CONTACT: For Mastermind, Inc.
Daniel Dodson, 678-420-4000
Chief Executive Officer
KEYWORD: UNITED STATES NORTH AMERICA GEORGIA
INDUSTRY KEYWORD: SOCIAL MEDIA COMMUNICATIONS ADVERTISING MARKETING PUBLIC RELATIONS/INVESTOR RELATIONS
SOURCE: Mastermind, Inc.
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PUB: 08/23/2018 08:04 PM/DISC: 08/23/2018 08:04 PM