SALT LAKE CITY, April 19, 2005 (PRIMEZONE) -- SportsNuts, Inc. (OTCBB:SPCI), a sports Management and marketing company, announced its revenue results for 2004. SPCI realized revenues of $828,055 in 2004, an increase of 26 percent compared to 2003's annual net revenue of $659,223. SportsNut's 2004 revenues are the highest annual revenues in over four years.
SPCI's annual revenue increase was primarily due to greater technology consulting fees generated during 2004 and revenues from computer hardware sales through Secure Networks, Inc., the Company's wholly-owned subsidiary. Along with event administration, other sources of revenue included sales of the Company's technology-based services such as website hosting, e-mail exchange services and website design to sports and other organizations.
"We are pleased with SportsNuts progress in developing its business and revenue models and implementing cost-cutting efforts during the year 2004," stated Kenneth Denos, CEO of SportsNuts. "At the same time that is not to say we are content with our success. Our plan in 2005 is to aggressively market our services and products in order to increase our reach and integration into community-based amateur athletics across the country."
About SportsNuts
SportsNuts is a sports management and marketing company, with a focus on community-based amateur athletics, providing unique solutions to the challenges faced by athletes and the organizations in which they participate. The Company helps organize and manage a wide variety of sports events, providing online registration and merchandise sales, event sponsorship, event coordination, and targeted promotion using technology and strategic media relationships. The Company seeks to be the emerging technology leader in sports information systems and the only organization of its kind to complement its technology solutions with offline marketing, sales, and support. The Company's mission is to become the ultimate resource for amateur and community event coordinators, administrators, athletes, fans and coaches.
SportsNuts endeavors to make events more profitable and efficient by promoting such events through various media channels, attracting corporate sponsorships, and providing technology tools to decrease administrative and personnel costs.
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such risk factors are detailed from time to time in the Company's filings on forms 10-QSB, 10-KSB, and 8-K with the U.S. Securities and Exchange Commission and other regulatory authorities.