New York, NY, July 27, 2012 (GLOBE NEWSWIRE) -- Fueled by a dramatic increase in both the frequency and quantity of new title releases, Hannover House (HHSE) has taken steps to improve profit margins and title security by moving certain mastering and marketing duties in-house. Efective immediately, most of the company's DVD and Blu-Ray authoring duties will be handled internally by Director of Technical Services Tim Ellis, with website design and marketing handled by newly hired Garret Krier, in the position as Director of Marketing. Activities relating to ongoing reporting obligations for financials and outside audit activities will be handled by Lisa Purkayasha, who has been moved over from a temporary staff position to newly creation position of Operations Manager.
In-House authoring of DVD and Blu-Ray masters is expected to save the company more than $4,000 per title, and with 28 new release titles in solicitation or on the schedule through May, 2013, the short-term savings could exceed $100,000. Moving web-design and maintenance in-house is expected to save the company over $50,000 per year, while simultaneously improving the response time for website updates and improvements. And finally, the creation of an Operations Manager position is expected to improve the company's timeliness in meeting future reporting and financial audit obligations as the company moves towards a higher-profile market listing.
Tim Ellis has been employed at Hannover House since January, having previously worked as an outside service provider as well as the Producer-Director of the bonus materials utilized in support of the video release for "Turtle: The Incredible Journey." Lisa Purkayasha has been working on a full-time, contract basis at Hannover House for the past four months, working as Audit-Manager and liaison with outside accountants reviewing the tax returns and financials for the years 2010 and 2011. Garret Krier joins Hannover House from KNWA-NBC Television, where he has worked as a writer-producer-reporter, responsible for shooting and editing many of his stories, as well as website activities.
"We are very pleased to be able to add these quality individuals to our management and support teams," said Fred Shefte, President of Hannover House. As the company's sales continue to grow, it is important that we look at means to improve our financial and operational efficiencies, as well as creating an environment that will better facilitate senior management focus on the big-picture opportunities. Having competent and proven managers in these important positions will enable Eric Parkinson and I to maximize our own skills in closing opportunities for the company, both in terms of product acquisitions as well as corporate finance."
With respect to corporate finance matters, Hannover House C.E.O. Eric Parkinson will be in New York City next week to review several opportunities that have been presented to the company. He will also be meeting with the publicity and promotions companies that have been contracted to assist with the marketing of the September 7th theatrical release of "Toys in the Attic." The company has also entered into an agreement with a high-profile, New York-based director to helm the "Mother Goose" feature, and is looking forward to a strategy meeting to determine the schedule and production plan for this major production.
Hannover House is an independent entertainment company, specializing in the distribution of feature films to the USA home video market. The company is also active in theatrical releases, video-on-demand, book publishing and television licensing. The company's principal headquarters are in N.W. Arkansas, in relative proximity to the world headquarters for Wal-Mart Stores, Inc., and the company maintains a presence in both New York and Los Angeles for publicity, marketing, product acquisition and sales activities. The company's release slate for 2012 is four-times greater than in 2011, which saw only six new release items. Despite the limited schedule in 2011, the company still posted record revenues and profits. Due in part to the enhanced release schedule and higher profile itles, the company is looking for significant year-over-year gains in 2012.
For more information, go to www.HannoverHouse.com.
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.