News Feed Item

CreditRiskMonitor 2016 Operating Results

CreditRiskMonitor reports operating results for the year ended December 31, 2016

VALLEY COTTAGE, NY -- (Marketwired) -- 03/20/17 -- CreditRiskMonitor (OTCQX: CRMZ) reported that revenues for the year ended December 31, 2016 increased 3% to $12.81 million compared to fiscal 2015. Net income for fiscal 2016 was approximately $52,400 compared to $513,200 in the prior year. Cash, cash equivalents and marketable securities at the end of 2016 increased to $9.22 million from the 2015 year-end balance of $8.96 million.

Jerry Flum, CEO, said, "2016's reported earnings were negatively impacted by our decision to increase our investment in new marketing infrastructure and programs. The head of this marketing effort resigned mid-year, and this initiative fell short of our 2016 plans. We have hired a new marketing leader, and expect to see the positive impact of this investment in 2018. We're still debt-free and our strong balance sheet provides us with financial flexibility to manage our company for long-term results."

                        CREDITRISKMONITOR.COM, INC.
                            STATEMENTS OF INCOME
               FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015

                                                    2016           2015
                                               -------------  -------------

Operating revenues                             $  12,814,390  $  12,486,316

Operating expenses:
  Data and product costs                           4,944,053      4,665,360
  Selling, general and administrative expenses     7,495,742      6,685,528
  Depreciation and amortization                      200,136        218,621
                                               -------------  -------------

    Total operating expenses                      12,639,931     11,569,509
                                               -------------  -------------

Income from operations                               174,459        916,807
Other income, net                                     27,183          2,344
                                               -------------  -------------

Income before income taxes                           201,642        919,151
Provision for income taxes                          (149,199)      (405,965)
                                               -------------  -------------

Net income                                     $      52,443  $     513,186
                                               =============  =============

Net income per share of common stock:
  Basic                                        $           -  $        0.05
  Diluted                                      $           -  $        0.05

                        CREDITRISKMONITOR.COM, INC.
                               BALANCE SHEETS
                         DECEMBER 31, 2016 AND 2015

                                                 2016             2015
                                           ---------------  ---------------
Current assets:
  Cash and cash equivalents                $     9,222,343  $     8,717,899
  Marketable securities                                 --          245,474
  Accounts receivable, net of allowance of
   $30,000                                       2,090,676        1,927,428
  Other current assets                             487,257          555,871
                                           ---------------  ---------------

    Total current assets                        11,800,276       11,446,672
Property and equipment, net                        430,324          395,026
Goodwill                                         1,954,460        1,954,460
Other assets                                        23,763           33,999
                                           ---------------  ---------------

    Total assets                           $    14,208,823  $    13,830,157
                                           ===============  ===============

Current liabilities:
  Deferred revenue                         $     8,088,958  $     7,436,764
  Accounts payable                                  96,725           78,267
  Accrued expenses                               1,282,126        1,241,317
                                           ---------------  ---------------

    Total current liabilities                    9,467,809        8,756,348

Deferred taxes on income, net                      762,403          759,454
Other liabilities                                   12,574            4,314
                                           ---------------  ---------------

    Total liabilities                           10,242,786        9,520,116
                                           ---------------  ---------------

Stockholders' equity:
  Preferred stock, $.01 par value;
   authorized 5,000,000shares; none issued              --               --
  Common stock, $.01 par value; authorized
   32,500,000shares; issued and
   outstanding 10,722,401 and10,722,321
   shares, respectively                            107,224          107,223
  Additional paid-in capital                    29,419,463       29,279,791
  Accumulated deficit                          (25,560,650)     (25,076,973)
                                           ---------------  ---------------

    Total stockholders' equity                   3,966,037        4,310,041
                                           ---------------  ---------------

    Total liabilities and stockholders'
     equity                                $    14,208,823  $    13,830,157
                                           ===============  ===============

About CreditRiskMonitor

CreditRiskMonitor (http://www.crmz.com) 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 $100 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® score.

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.

CreditRiskMonitor.com, Inc.

Jerry Flum
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
The “Digital Era” is forcing us to engage with new methods to build, operate and maintain applications. This transformation also implies an evolution to more and more intelligent applications to better engage with the customers, while creating significant market differentiators. In both cases, the cloud has become a key enabler to embrace this digital revolution. So, moving to the cloud is no longer the question; the new questions are HOW and WHEN. To make this equation even more complex, most ...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: imple...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...