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Three Months Ended March 31
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2009 2008
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Revenue (A) $ 455,032 $ 1,176,183
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Cost of Revenues 330,868 810,460
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Gross Profit (B) 124,164 365,723
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Selling, General and Administrative Expenses
(C) 590,945 667,718
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(Loss) from Operations (D) (466,781) (301,995)
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(A) Revenues decreased by $721,151 primarily due to the general state of the economy and customers choosing to cancel or delay purchases of promotional products.
(B) Gross profits will vary period-to-period depending upon a number of factors including the mix of items sold, pricing of the items and the volume of product sold.
(C) Selling, general, and administrative expenses include payroll and related expenses, commissions, insurance, rents, professional, consulting and public awareness fees. The overall decrease of $76,773 was primarily due to an $18,384 decrease in stock based compensation and a $91,340 decrease in commissions.
(D) The increase of approximately $165,000 in loss from operations was primarily due to the general state of the economy and customers choosing to cancel or delay purchases of promotional products.
About Ace Marketing & Promotions, Inc.
Ace Marketing & Promotions Inc., based in New York, is a full-service sports & entertainment promotional marketing company offering a wide array of business solutions which include mobile website development, portable media, ACE CMS Platform, print solutions and Branded Merchandise & Fulfillment. Ace Marketing & Promotions Inc. is a leader in Proximity Marketing(SM) with proprietary Bluetooth and Wi-Fi integrated technology that establishes the benchmark for how multimedia messages are being delivered. Established in 1998, the Company has built a successful, scalable business platform capable of consolidating a portion of the promotional products industry. Proximity Marketing(SM), Rockzimity, and Rockzimity Marketing are service marks of Ace Marketing & Promotions Inc. 2009. Ace's Corporate Overview is available at http://www.acemarketing.net on the "About Us" tab. Ace has recently added several new revenue stream models. The long-term strategic plan is for Ace to find new opportunities while leveraging its core competencies. For a demo of Ace's Proximity Marketing you can visit http://www.acemarketingdemo.com. For additional information, a copy of Ace's Form 10-K can be obtained on the Internet by going to www.acemarketing.net, clicking on links and then clicking on SEC Filings.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995.
Certain statements in this press release 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 or achievements of the company to be materially different from any future results, performances or achievements express or implied by such forward-looking statements. The forward-looking statements are subject to risks and uncertainties including, without limitation, changes in levels of competition, possible loss of customers, and the company's ability to attract and retain key personnel.
Media Contact: Ace Marketing & Promotions, Inc. Legend Securities, Inc. Thomas Wagner 800-385-5790 x152 718-233-2600 x152 twagner@legendsecuritiesinc.com
SOURCE: Ace Marketing & Promotions, Inc.
mailto:twagner@legendsecuritiesinc.com
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