ROCHESTER, N.H.—(BUSINESS WIRE)—BrandPartners Group, Inc. (OTC Bulletin Board: BPTR), a provider of integrated environmental and customer experience solutions to the retail financial services industry, today announced its financial results for the quarter ended June 30, 2008.
The Company’s revenues during the second quarter ended June 30, 2008 were $8.7 million versus $13.1 million during the quarter ended June 30, 2007. Revenues for the six months ended June 30, 2008 were $18.0 million versus $27.0 million during the six months ended June 30, 2007.
In addition, second quarter 2008 results included:
Operating income of $566,222 versus operating income of $578,061 during the same period last year.
Operating income for the six months ended June 30, 2008 was $1.4 million versus $1.3 million during the same period last year.
Net Income of $279,418, or $.01 per fully diluted share, versus Net Income of $232,844, or $.01 per fully diluted share, for the same period last year.
Gross margin was 30.4% versus 23.6% for the same period last year. Gross margin for the six months ended June 30, 2008 was 30.2% versus 23.5% during the same period last year.
Selling, general and administrative expenses were $2.1 million versus $2.5 million during the same period last year. Selling, general, and administrative expenses for the six months ended June 30, 2008 were $4.0 million versus $5.0 million during the same period last year.
Interest expense was $286,804 versus $345,217 during the same period last year. Interest expense for the six months ending June 30, 2008 was $585,877 versus $661,747.
“In the face of an extremely difficult year for our client base comprised primarily of financial institutions, our results for the first six months are evidence that the company’s business model modifications and cost-cutting in 2007 are allowing us to manage our business effectively during these challenging times. We have improved our operating and net income during the first six months despite lower revenues. Although we have seen pockets of delays, we believe that our value added services are helping many clients realize that continuous improvements to their branches are paramount to avoiding erosion of market share in this weak economy. More importantly, we have recently landed initial contracts with several regional and national institutions that will hopefully lead to higher revenues during the next twelve months. In order to ensure that we continue to retain clients for many years, our employees are focusing on improving our service delivery and creating new products and services,” stated James F. Brooks, BrandPartners CEO.
About BrandPartners
BrandPartners Group, Inc. (OTC Bulletin Board: BPTR), through its wholly owned subsidiaries provides an integrated approach to customer environments through brand translation, business strategies, design-build services, retail display and in-branch communications products and services, from concept and design through implementation and training. BrandPartners installations are in more than 2,000 companies at more than 30,000 retail locations. The company serves its clients from its Rochester, New Hampshire headquarters and regional U.S. offices.
Cautionary Language
Statements in this news release that are not statements of historical or current fact 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 unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Companys reports and registrations statements filed with the Securities and Exchange Commission.