Gener8Xion Entertainment, Inc. (BB: GNXE) Releases Fiscal Year 2007 Financials; Highlights Include a 74% Jump in Revenues from $5.7 million to $9.9 million and a Gross Profit of over $3.5 million
Gener8Xion Entertainment, Inc. (BB: GNXE) Releases Fiscal Year 2007 Financials; Highlights Include a 74% Jump in Revenues from $5.7 million to $9.9 million and a Gross Profit of over $3.5 million
LOS ANGELES, Feb. 14 /PRNewswire-FirstCall/ -- Gener8Xion Entertainment, Inc. (BULLETIN BOARD: GNXE) , a fully integrated family/faith-based entertainment company, announced today that is has filed its 10K for fiscal year ended October 31, 2007.
Gener8Xion delivered the following results for the year ended October 31st, 2007:
-- Total revenues increased from $5.7 million in 2006 to $9.9 million in
2007, an increase of $4.2 million or 74%
-- Gross profit went from a loss of $0.4 million in 2006 to a substantial
profit of $3.5 million in 2007, an increase of $3.9 million
-- Profit from operations went from a loss of $5.5 million in 2006 to a
profit of $345,000 in 2007
-- General and administrative expenses dropped 47% from $5.1 million in
2006 to $2.7 million in 2007
-- Net loss dropped 90% from $5.8 million in 2006 to $593,000 in 2007
Gener8Xion President Carlos D. De Mattos stated, "Although we are proud of the significant improvements in our numbers across the board, we aim to deliver even more impressive numbers to our shareholders over the coming year. We look forward to spring-boarding off the success of our first released motion picture, ONE NIGHT WITH THE KING, with Peter O'Toole and Omar Sharif (see: http://www.8x.com/onenight/) which is based on the novel 'Hadassah' by Tommy Tenney."
Matthew Crouch, Chairman and CEO of Gener8Xion, stated, "As we turn our attention to the next fiscal year, we believe that we are headed into a new era in family/faith motion picture production and distribution that we define as the second phase of life affirming entertainment. We expect that this phase will be driven by collaboration with major studio partners and will become an increasingly influential market trend for media companies who would like to connect with this sought-after demographic."
About Gener8Xion
Gener8Xion Entertainment, Inc. (http://www.8x.com/) is engaged in the development, acquisition, financing, production, and worldwide licensing of feature films and television projects in the family/faith-based genre. In addition the Company manufactures and sells high quality production lighting equipment through its Cinemills (http://www.cinemills.com/) division which has exclusive US distribution rights to some new innovative products.
Interested investors can now visit the Company's homepage at http://www.8x.com/ and click the "Investor Relations" icon to be directed to new pages that include dynamic historical quote data, answers to frequently asked questions, and financial information. Most importantly, investors can click on "Request Info" and securely request that an investor relations kit be sent to them, receive a phone call from the Company's Investor Relations personnel, and/or receive press releases delivered immediately after release to a designated e-mail address.
The statements made in this press release which are not historical facts, including statements regarding expectations for future growth of revenue and profits and trends concerning net sales, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. As a result of a number of factors, our actual results could differ materially from those set forth in the forward- looking statements. Certain factors that might cause our actual results to differ materially from those in the forward-looking statements include, without limitation: (i) our ability to develop and execute our business plans, (ii) our ability to respond to competitive challenges and changing consumer preferences, (iii) our ability to consummate and integrate acquisitions, (iv) increased competition, (v) unfavorable publicity about dietary supplements in general or regarding our products or similar products sold by others, (vi) our exposure to product liability claims, our dependence upon certain large customers, and (vii) our ability to retain and attract talented management and other key employees, as well as those factors set forth under the heading "Risk Factors" in our annual report on Form 10-K for the year ended December 31, 2006, and in our other filings with the Securities and Exchange Commission.
Company Contact:
Gener8Xion Entertainment, Inc.
Corporate V.P. - Marcos M. De Mattos
Phone - (818)843-4560
General Email: info@8x.com
Investor Relations: marcos@8x.com
First Call Analyst:
FCMN Contact:
Source: Gener8Xion Entertainment, Inc.
CONTACT: Marcos M. De Mattos, Corporate V.P. of Gener8Xion
Entertainment, Inc., +1-818-843-4560, General: info@8x.com, or Investor
Relations: marcos@8x.com
Web site:
http://www.8x.com/
http://www.cinemills.com/
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