CreditRiskMonitor Announces 3Q Results

Valley Cottage, NY - (NewMediaWire) - November 8, 2018 - CreditRiskMonitor (OTCQX: CRMZ) reported that revenues were $3.48 million and $10.33 million for the 3 and 9 months ended September 30, 2018, respectively, an increase of 2.8% and 3.7% over the comparable periods last year. For the same periods, loss from operations was approximately ($45,300) and ($521,000), respectively, versus approximately ($4,800) and ($439,500) for the comparable 2017 periods. Cash and cash equivalents at the end of the nine-month period decreased $128,700 to $8.61 million versus the 2017 year-end balance of $8.74 million.

Jerry Flum, CEO said, “We’re continuing to develop new products. As previously noted, we launched our private company Financial Statement Sourcing in 4Q 2017 and the PAYCE™ private company neural network score in 1Q 2018. Our debt-free liquid balance sheet remains strong, allowing us to continue investing in our services with the long-term goal of enhancing shareholder value.”

CREDITRISKMONITOR.COM, INC.
STATEMENTS OF OPERATIONS
FOR THE 3 AND 9 MONTHS ENDED SEPTEMBER 30, 2018 AND 2017
(Unaudited)
        
 3 Months Ended 9 Months Ended
 September 30, September 30,
 2018 2017 2018 2017
        
Operating revenues$  3,481,359  $  3,385,352  $  10,331,106  $  9,963,078 
        
Operating expenses:       
Data and product costs   1,416,783     1,332,759     4,314,468     4,058,940 
Selling, general and administrative expenses   2,060,322     2,013,962     6,398,936     6,200,518 
Depreciation and amortization   49,583     43,410     138,670     143,132 
        
Total operating expenses   3,526,688     3,390,131     10,852,074     10,402,590 
        
Income from operations   (45,329)    (4,779)    (520,968)    (439,512)
Other income, net   36,710     15,362     88,354     29,932 
        
Income (loss) before income taxes   (8,619)    10,583     (432,614)    (409,580)
Benefit from (provision for) income taxes   (2,527)    (29,700)    79,195     62,483 
        
 $  (11,146) $  (19,117) $  (353,419) $  (347,097)
        
Net loss per share:       
Basic and diluted$(0.00) $(0.00) $(0.03) $(0.03)
                


CREDITRISKMONITOR.COM, INC.
BALANCE SHEETS
SEPTEMBER 30, 2018 AND DECEMBER 31, 2017
    
    
 September 30, December 31,
 2018 2017
 (Unaudited)  
ASSETS   
Current assets:   
Cash and cash equivalents$  8,606,450  $  8,735,148 
Accounts receivable, net of allowance   1,570,236     2,139,707 
Other current assets   530,563     530,699 
    
Total current assets   10,707,249     11,405,554 
 . .
Property and equipment, net   552,538     437,216 
Goodwill   1,954,460     1,954,460 
Other assets   48,282     23,463 
    
Total assets$  13,262,529  $  13,820,693 
    
    
LIABILITIES AND STOCKHOLDERS’ EQUITY   
Current liabilities:   
Deferred revenue$  8,210,492  $  8,304,877 
Accounts payable   145,462     58,901 
Accrued expenses   1,160,313     1,344,526 
    
Total current liabilities   9,516,267     9,708,304 
    
Deferred taxes on income, net   425,876     514,333 
Other liabilities   19,310     15,748 
    
Total liabilities   9,961,453     10,238,385 
    
Stockholders’ equity:   
Preferred stock, $.01 par value; authorized 5,000,000 shares; none issued  --    -- 
Common stock, $.01 par value; authorized 32,500,000 shares; issued and outstanding 10,722,401 shares   107,224     107,224 
Additional paid-in capital   29,631,971     29,559,784 
Accumulated deficit   (26,438,119)    (26,084,700)
    
Total stockholders’ equity   3,301,076     3,582,308 
    
Total liabilities and stockholders’ equity$  13,262,529  $  13,820,693 
        

Overview

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 approximately $140 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 plus over 1,000 other large companies worldwide 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, crowdsourcing of risk professionals as well as the company's proprietary FRISK® and PAYCE™ scores.

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.

Jerry Flum
845-230-3030
ir@creditriskmonitor.com

Source: CreditRiskMonitor.com, Inc.



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