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.
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