DENVER, Jan. 16, 2013 (GLOBE NEWSWIRE) -- ChineseInvestors.COM (OTCBB:CIIX), a provider of general business and financial news in China, reported improved earnings for second quarter of 2013.
The Company reported total revenues of $460,034 for the quarter ended November 30, 2012, as compared to revenues of $425,676 for the period ended August 31, 2012. The substantial increase in revenues represents an 8% sequential revenue growth rate. The positive trends were also reflected in a substantial decrease in operating losses. The net loss for the quarter ended November 30, 2012 was $240,061 as compared to $284,192 in the previous quarter for the same year. The company also showed a modest profit for the month of September 2012. It should also be noted that the revenues generated in the first two quarters of FY 2013 roughly equaled the entire year's revenues as reported for FY2012.
Mr. Warren Wang, Chairman and Chief Executive Officer of ChineseInvestors.COM commented, "This is another milestone for the Company as we continue to gain traction with our latest endeavor in our partnership with CBN iTV, and the Shanghai Media Group in China; which is producing a one hour nightly program covering the US Financial Marketplace launched late last year. We feel that the Company is making excellent progress in its efforts to achieve profitability this year."
Mr. Wang also expressed optimism regarding several new business opportunities under development as well as the positive trends in revenues. Mr. Wang completed his comments by saying, "The Company is expecting to show continued improvement in its overall performance in the third quarter (FY 2013)"
Mr. Brett Roper, Chief Operating Officer of ChineseInvestors.com, Inc. added, "We are encouraged by the recent interest expressed in our consulting services offering which directs private US as well as China based companies on the various OTCBB public options available to them here in the United States. We currently have several proposals under consideration and are hopeful that we can announce at least one significant services contract in the very near future. We are also encouraged by the recent uptick in various advertising and IR service inquiries coming to our IR/Advertising Sales Team."
ChineseInvestors.com, Inc. ('CIIX'), founded in 1999 endeavors to be an innovative company; specializing in (a) providing real-time market commentary, analysis, and educational related endeavor(s) in Chinese language character sets (traditional and simplified), (b) providing support services to our various partners, (c) providing consultative services to smaller private companies considering becoming a public company, (d) providing various advertising as well as public relation support services, and (e) other services we may identify having the potential to create value or partnership opportunity with our existing services.
Further information may be found at our website (www.chinesefn.com).
Safe Harbor Statement
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues as well as any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC) including but not limited to information as contained within the Company's most current quarterly reports, annual reports, and or other such filings. Furthermore, the Company disclaims any intention or obligation to update or revise any such forward looking statements, whether as a result of new information, future events, or otherwise. We have incurred and will continue to incur significant expenses in our expansion of our existing as well as new service lines noting there is no assurance that we will generate enough revenues to offset those costs. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations we will be providing services in, the impact of which cannot be predicted at this time.