CreditRiskMonitor 2017 Operating Results

VALLEY COTTAGE, N.Y., March 22, 2018 (GLOBE NEWSWIRE) -- CreditRiskMonitor (OTCQX:CRMZ) reported that revenues for the year ended December 31, 2017 increased to $13.39 million up 4% compared to 2016. Net income for 2017 was approximately $12,100 compared to $52,400 in the prior year. Cash and cash equivalents at the end of 2017 decreased to $8.74 million from the 2016 year-end balance of $9.22 million.

Jerry Flum, CEO, said, “We did not see significant results yet from our new Financial Statement Sourcing (launched 4Q 2017) or PAYCE™ (launched 1Q 2018) products, or from our other new marketing efforts, but we’re committed to continue investing in new products and marketing infrastructure. There is a natural lag on these expenses and the impact on revenue. The Company is still debt-free and our strong cash position allows us to continue to undertake these initiatives.”

2017 2016
Operating revenues$ 13,385,068 $ 12,814,390
Operating expenses:
Data and product costs 5,426,779 4,944,053
Selling, general and administrative expenses 8,044,256 7,495,742
Depreciation and amortization 191,960 200,136
Total operating expenses 13,662,995 12,639,931
Income (loss) from operations (277,927) 174,459
Other income, net 47,216 27,183
Income (loss) before income taxes (230,711) 201,642
Benefit (provision) for income taxes 242,781 (149,199)
Net income$ 12,070 $ 52,443
Net income per share of common stock:
Basic and diluted$ - $ -

DECEMBER 31, 2017 AND 2016
2017 2016
Current assets:
Cash and cash equivalents$ 8,735,148 $ 9,222,343
Accounts receivable, net of allowance of $30,000 2,139,707 2,090,676
Other current assets 530,699 487,257
Total current assets 11,405,554 11,800,276
Property and equipment, net 437,216 430,324
Goodwill 1,954,460 1,954,460
Other assets 23,463 23,763
Total assets$ 13,820,693 $ 14,208,823
Current liabilities:
Deferred revenue$ 8,304,877 $ 8,088,958
Accounts payable 58,901 96,725
Accrued expenses 1,344,526 1,282,126
Total current liabilities 9,708,304 9,467,809
Deferred taxes on income, net 514,333 762,403
Other liabilities 15,748 12,574
Total liabilities 10,238,385 10,242,786
Stockholders’ equity:
Preferred stock, $.01 par value; authorized 5,000,000
shares; none issued -- --
Common stock, $.01 par value; authorized 32,500,000
shares; issued and outstanding 10,722,401 shares 107,224 107,224
Additional paid-in capital 29,559,784 29,419,463
Accumulated deficit (26,084,700) (25,560,650)
Total stockholders’ equity 3,582,308 3,966,037
Total liabilities and stockholders’ equity$ 13,820,693 $ 14,208,823

About CreditRiskMonitor

CreditRiskMonitor ( is a web-based publisher of financial information that helps corporate credit and procurement professionals stay ahead of business financial risk quickly, accurately and cost effectively. The service offers comprehensive commercial credit reports and financial risk analysis covering public companies worldwide. Unlike other commercial credit bureaus like Dun & Bradstreet, CreditRiskMonitor’s primary expertise and focus is on financial analysis of public debt and equity companies.

The Company also collects more than $130 billion of trade receivable data on both public and a select group of private companies every month, to help subscribers determine payment performance.

Over 35% of the Fortune 1000 depend on CreditRiskMonitor's timely news alerts and reports featuring detailed analyses of financial statements, ratio analysis and trend reports, peer analyses, bond agency ratings, as well as the company's proprietary FRISK® and PAYCE™ scores.

Safe Harbor Statement

Certain statements in this press release, including statements prefaced by the words "anticipates", "estimates", “believes", "expects" or words of similar meaning, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, expectations or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including, among others, those risks, uncertainties and factors referenced from time to time as "risk factors" or otherwise in the Company's Registration Statements or Securities and Exchange Commission Reports. We disclaim any intention or obligation to revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.

Jerry Flum
8452303030, Inc.