MINDEN, Nev., Dec. 15, 2003 (PRIMEZONE) -- Kingdom Ventures, Inc. (OTCBB:KDMV), a rapidly growing supplier of Media and Products to the Christian Marketplace, announced today its preliminary unaudited financial results for its third quarter ending October 31, 2003. The company's sales revenues increased to an estimated $5 plus million in the Third quarter from $842,362 the year earlier, representing an increase of over 500%.
"These numbers reflect our commitment to becoming the leading Media, Products and Service supplier to the Christian Community in the U.S. They reflect the significant progress we have made during the third quarter, as detailed in our prior press releases. "The acquisitions as well as continued growth in our operating units in the past quarter now are showing up in increased revenues and earnings," says Gene Jackson, President and Chief Executive Officer of Kingdom Ventures.
Kingdom Ventures, Inc. (www.kdmvcorp.com) is a diversified supplier of media and products to the Christian marketplace. Consisting of two operating units -- Kingdom Media Group and Kingdom Products Group -- the Company serves the Christian marketplace through uplifting faith and humanitarian practice and by assisting Christians in personal, church and ministry growth.
The Kingdom Media Group includes the nation's largest regional Christian newspaper chain Christian Times, Christian Speakers & Artists Agency, iExalt.com and iExlatMall.com -- www.iexalt.com , Ministry Values for Growing Churches (the largest church direct marketing company -- www.ministryvalues.com) and American Association of Christian Counselors (www.aacc.net). The Kingdom Products Group consists of Xtreme Notebooks (notebook computers and Tablet PCs -- www.xnbs.com), Kingdom Gifts (inspirational gifts and candles), Yahwear Clothing (Christian apparel -- www.yahwear.com) and Mr. Roy Productions (silk screen and production facility).
All statements other than statements of historical fact included in this press release are "forward-looking statements." The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated.