Q2 Revenues Show Positive Results from Enhanced Theatrical and Video Release Activities for Hannover House
(Springdale, AR) Hannover House, Inc. (OTC: HHSE), a leading U.S.A. producer and distributor of independent films, books and entertainment products, released Q2 revenue results today, several weeks ahead of the OTC Markets filing schedule. Revenues for the three-month period ending June 30, 2015 were $1,281,011 with pre-tax profits of $566,756. These results compare to revenues generated by the company during the same quarter in 2014 of $891,190 and pre-tax profits of $241,647. The revenue results for Q2, 2015 represent an increase of approximately 44% over 2014, and the pre-tax profits represent an increase of approximately 134% over the same quarterly period in 2014. Key revenue items during the current quarter included subscription video-on-demand agreements for “The Algerian” and “Bonobos: Back to the Wild” as well as DVD product shipments for a slate of titles including “Lazarus Papers”, “Love Beat the Hell Outta Me”, “Asalto Al Cine”, “Grand Champion”, “American Justice” and “Antonio Aguilar Colecion.” The company also generated theatrical marketing, booking and distribution fees on four releases.
The company plans to release the full Q2 Financials and Disclosures on Monday, August 3.
“Dark Awakening” launched to a single screen, theatrical premiere on June 26 but did not post revenues during the reporting quarter. The horror-thriller from director Dean C. Jones has expanded to 25 locations during July, and is expected to reach 65 or more markets during August, prior to the October 6 home video release. Hannover House is handling theatrical and home video rights for “Dark Awakening” with Alchemy picking up video-on-demand chores.
“Bonobos: Back to the Wild” launches Friday, July 31, and “The Algerian” launches on Friday, August 7. Both films are expected to reach the top 20 markets during their limited theatrical engagements with Hannover House. Home video for both titles is set for November 10, with the Netflix subscription video-on-demand windows opening January 11, 2016.
During 2015, Hannover House and the supplier studios organized under the Medallion Releasing, Inc. distribution consortium are collectively expected to release about 90-titles to the DVD and BluRay markets. This volume of new releases represents a substantial increase in title activities for Hannover House when compared to the eight (or less) releases handled by the company during each of the full years of 2013 and 2014.
“Our sales revenues and profit margins are growing significantly and measurably each quarter,” said Eric Parkinson, C.E.O. “When our receivables cash-flow collections catch up with our rate of new product manufacturing and sales, the financial dynamic for Hannover House is going to dramatically change – and we should grow exponentially from that point forward,” he concluded.
Key retail accounts for Hannover House include Walmart Stores, Inc., Redbox, Netflix, Barnes & Noble and thousands of independent video retailers, schools, libraries and booksellers. The company also sells entertainment products to a wide range of internet sites, and services most major video-on-demand portals. The company has been profitable for each of the past five years, and feels that the 2015 new activities will significantly increase both revenues and bottom line results. Hannover House stock is traded on the OTC Markets under ticker symbol: HHSE.
SAFE HARBOR STATEMENT
This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34, which are intended to be covered by the safe harbors created thereby. Although the company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that these statements included in this press release will prove accurate.
For more information contact:
Eric Parkinson, Hannover House, 818-481-5277 / Eric@HannoverHouse.com