)
(BERLIN:SHQ) today announced its second-quarter financial and operating
results, which reflect a growth in revenue from its subsidiaries, its search
engine`s keyword advertising service, the completion of three Internet
business acquisitions, and a positive increase in cash flow for the quarter.
SearchHound.com, Inc. acquired three additional Web-based properties during
the quarter, which it has combined with FreeAirMiles.com into a consumer Web
division. MoneyMessage.com, FastCashOffers.com, and EarlyBirdDomains.com
were purchased on June 30, 2001 in an all-stock transaction.
During the past quarter, the company reported continued growth of subsidiary
operations, advertising sales, and search engine keyword advertising
revenues totaling $559,205 for the quarter and $746,000 year to date, which
represents a steady increase during each month of the year. Cash balances
improved from $139,000 at the end of first quarter to $167,000 at second
quarter close.
SearchHound reported an operating cash surplus of $72,289 for the quarter on
reported revenues of $559,205 reduced by operating expenses, cost of goods
sold, and SG&A of $640,000 of which $486,916 was paid in cash and $153,281
paid in stock. EBITDA loss (operating loss before interest, taxes,
depreciation, and amortization) was only $81,000 for the quarter, which
represents continued improvement over previous quarters.
"We`ve deployed a strategy to maximize and diversify revenue streams,
acquire Web-based businesses with positive cash flows, and match expenses
with available cash proceeds," said SearchHound.com, Inc. president and CEO
Dave L. Mullikin. "This approach increases our top-line revenue, provides
for technology integration, lowers our combined operating expenses,
accelerates our pursuit to maintain positive cash flows from the combined
family of companies, and should be reflected in the market`s interest in
shares of SRHN," added Mullikin.
The company continues to look for Web-based technology companies that meet
their three guiding principals for acquisition: Internet-based synergy,
revenue, and the ability to benefit from SearchHound`s management,
technology, and infrastructure.
About SearchHound.com
SearchHound.com, Inc. is one of the first "pay-per-click" intelligent search
engines, providing a keyword-bidding feature that allows its Advertisers to
gain high placement in the search results. SearchHound also provides
relevant marketing tips, tools, products and services that empower its
community of 1.5 million Webmasters and Web Professionals to build enhance
and expand their online businesses. In addition, the Company distributes a
twice-weekly newsletter to its registered subscribers, offers
revenue-sharing affiliate programs and markets a customizable search engine
software package. SearchHound.com, Inc. leverages its unique relationship
with its user base to create a synergistic environment between all of its
subsidiaries. Additional information about the SearchHound.com family of
companies can be found at each of the following sites:
http://www.searchhound.com
http://www.solosearch.com
http://www.freeairmiles.com
http://www.jobbankusa.com
http://www.resumebroadcaster.com
http://www.godado.co.uk
http://www.moneymessage.com
http://www.fastcashoffers.com
http://www.earlybirddomains.com
SearchHound.com, Inc. now maintains office locations in Kansas City,
Missouri; Amelia Island, Florida; Austin, Texas; and London, England.
Statements regarding financial matters in this press release other than
historical facts are "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The Company intends that such statements
about the Company`s future expectations, including future revenues and
earnings, the anticipated stock dividends and all other forward-looking
statements be subject to the safe harbors created thereby. Since these
statements (future operational results and sales) involve risks and
uncertainties and are subject to change at any time, the Company`s actual
results may differ materially from expected results.
CONTACT:
SearchHound.com, Inc.
Dave Mullikin
816/960-3777
dave@searchhound.com
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