XA Files 10QSB Quarterly Report -- Company's Quarterly Revenue Increases 5% to $2.69 Million
17 May 2005 - 11:00PM
PR Newswire (US)
XA Files 10QSB Quarterly Report -- Company's Quarterly Revenue
Increases 5% to $2.69 Million CHICAGO, May 17
/PRNewswire-FirstCall/ -- XA, Inc., (XA) (Nasdaq OTC BB: XAIN), a
major national event marketing firm that serves many Fortune 500
companies, today filed its quarterly report for the fiscal quarter
ended March 31, 2005. Highlights * Revenue for the first quarter
ended March 31, 2005 rose 5% to $2.69 million from $2.57 million in
the same period a year ago * Company generates new client
acquisitions and new revenues through its two recent acquisitions;
Musters & Company and Fiori (Alice's Garden). * XA appoints Bo
Sandine as Director of Business Development for Southern California
Revenue for the fiscal quarter ended March 31, 2005 rose 5% to
$2.69 million from $2.57 million in the same period a year ago. The
Company reported a net income of $44,587 or 0.01 per share,
compared to a net income of $305,407 or .01 per share for the same
period in 2004. As of March 31, 2005, cash reserves on the balance
sheet rose 202.2% to $915,802 from $452,752 in 2004. Currently, the
number of shares outstanding is 3,516,250 with 805,703 shares in
the public float. CEO Joseph Wagner of XA said, "First quarter
results are in line with our expectations. Our revenues continued
to increase and the company is profitable. We have significantly
increased our cash position in the first quarter and have positive
working capital. We anticipate strong second quarter results which
will include revenues resulting from the Musters and Fiori
acquisitions plus continued organic growth." Marketers spent $152
billion in event marketing in 2003, up about 15% since 2002. In
2003, budgets for event marketing reached an average of $901,935,
according to PROMO's 2004 Event Marketing Study. (Source: PROMO
Magazine, January 1, 2005) Investors may view the Company's 10QSB
filing at http://www.sec.gov/ . About XA XA has offices in Chicago,
New York and Los Angeles from which it provides corporations and
highly visible brands with comprehensive event marketing, design
and production services. Since 1989, the XA team has been the
creative force behind prestigious, national projects for such
clients as The NBA, Disney, McDonald's, British Telecom, Song
Airlines, Eurex, Olympus, Salvatore Ferragamo, Vogue, W Hotels, ABN
AMRO and Emirates Airline. In 2003 and 2004, Special Events
Magazine ranked XA as one of the "Top 50 Powerhouse Event Companies
in the World." Forward Looking Statements This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. In particular,
when used in the preceding discussion, the words "believes,"
"expects," "intends," "will," "anticipated," or "may," and similar
conditional expressions are intended to identify forward-looking
statements within the meaning of the Act and are subject to the
safe harbor created by the Act. Except for historical information,
all of the statements, expectations and assumptions contained in
the foregoing are forward-looking statements that involve a number
of risks and uncertainties. It is possible that the assumptions
made by management are not necessarily the most likely and may not
materialize. In addition, other important factors that could cause
actual results to differ materially include the following: business
conditions and the amount of growth in the company's industry and
general economy; competitive factors; ability to attract and retain
personnel; the price of the Company's stock; and the risk factors
set forth from time to time in the Company's SEC reports, including
but not limited to its annual report on Form 10-KSB; its quarterly
reports on Forms 10-QSB; and any reports on Form 8-K. XA, Inc. (OTC
BB: XAIN) takes no obligation to update or correct forward-looking
statements and also takes no obligation to update or correct
information prepared by third parties that is not paid for by the
Company. For more information, please contact: Company: Amanda Puck
XA 312-239-2370 Investors: Art Batson, President Arthur Douglas and
Associates (407) 478-1120 DATASOURCE: XA, Inc. CONTACT: Amanda
Puck, XA, +1-312-239-2370, ; Investors, Art Batson, President,
Arthur Douglas and Associates, +1-407-478-1120 Web site:
http://www.expagency.com/
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