×

Helios and Matheson Expects to Report $108,000 in Net Income for Q2 2013

NEW YORK, July 25, 2013 (GLOBE NEWSWIRE) -- HELIOS AND MATHESON Analytics Inc (the "Company") (Nasdaq:HMNY), a 30 year old IT services organization focused on the banking, financial services, insurance and healthcare sectors, is providing the following preliminary (unaudited) information regarding the results of its operations for the second quarter of the year ended June 30, 2013:

The Company expects to report a 6% increase in net income for Q2-2013 as compared to Q2-2012, an increase from $101,000 or $0.04 per basic and diluted share (EPS) to $108,000 or $0.05 per basic and diluted share (EPS).

The Company continues to be debt free. The Company expects to close the second quarter of 2013 with total assets of $5.5 million and total liabilities of $1.3 million. Below is the summary of select financial data:

Three Months Ended
(In 000s except per share amounts) 6/30/2013 6/30/2012
(Unaudited) (Unaudited)
Revenue $3,440 $2,960
Gross Profit $788 $701
Income from operations $110 $102
Net Income $108 $101
EPS per basic and diluted share $0.05 $0.04
Cash and Cash Equivalents (million) $2.13 $2.03


The Company expects that gross margin will be at 23% for the second quarter of 2013 as compared to 24% in the second quarter of 2012, which decrease resulted from a change in revenue mix. Selling, general and administrative costs are expected to be $679,000 in the second quarter of 2013, which would be an increase of 13% from the second quarter of 2012 due to certain one-time charges primarily relating to promotion of the company's predictive analytics offering.

About Helios and Matheson Analytics Inc

Helios and Matheson Analytics Inc is a 30 year old IT services organization focused on the banking, financial services, insurance and healthcare sectors. Its common stock is traded on the Nasdaq Global Market under the ticker symbol "HMNY".

Forward Looking Statements

This release includes 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. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in the Helios and Matheson Analytics Inc. Annual Report on Form 10-K for the year ended December 31, 2012 and more recent reports filed with the SEC. Helios and Matheson Analytics Inc. is under no obligation (and expressly disclaims any such obligation) to update or alter such forward-looking statements, whether as a result of new information, future events or otherwise.

HELIOS AND MATHESON ANALYTICS INC
CONSOLIDATED STATEMENT OF INCOME AND COMPREHENSIVE INCOME
Three Months Ended
June 30,
Six Months Ended
June 30,
2013 2012 2013 2012
(unaudited) (unaudited) (unaudited) (unaudited)
Revenues $3,439,547 $2,960,464 $6,642,378 $5,639,595
Cost of revenues 2,651,082 2,259,369 5,179,492 4,298,004
Gross profit 788,465 701,095 1,462,886 1,341,591
Operating expenses:
Selling, general & administrative 676,102 594,685 1,244,940 1,128,595
Depreciation & amortization 2,493 4,301 4,964 9,319
678,595 598,986 1,249,904 1,137,914
Income from operations 109,870 102,109 212,982 203,677
Other income/(expense):
Early lease termination fee -- -- -- (82,548)
Interest income-net 710 5,173 1,440 6,096
710 5,173 1,440 (76,452)
Income before income taxes 110,580 107,282 214,422 127,225
Provision for income taxes 3,000 6,000 6,000 12,000
Net Income 107,580 101,282 208,422 115,225
Other comprehensive loss - foreign currency adjustment (14,134) (9,525) (14,103) (7,790)
Comprehensive Income $93,446 $91,757 $194,319 $107,435
Basic and diluted income per share $0.05 $0.04 $0.09 $0.05
Dividend Per share $ -- $ -- $0.09 $ --

CONTACT: Umesh Ahuja 703 691 0400 Ext 1046 uahuja@hmny.comSource:Helios and Matheson Analytics Inc.