TORONTO, ON., May 21, 2008 – Brighter Minds Media, Inc. (“Brighter Minds” or the “Company”) (TSX: BRI.V) today announced its financial results for the first quarter of 2008.
Increased Revenues, Gross Profit and Margins:
Total revenue for the first quarter was US$1,417,388 as compared to $1,092,660 for the same period in 2007 representing an increase of 30%. Gross Profit was $692,550 as compared to $342,876 for the same period in 2007, representing an increase of 102%. Gross Margins for the period were 49% of sales up from 31% in Q1 2007. Net loss for the period was $87,436 compared to a net loss of $332,321 for the comparable period in 2007.
The Company will be holding a conference call on Thursday, May 22, 2008 at 1:00pm EST to discuss the financial results.
Forward-looking Statements
This document may contain forward-looking statements, relating to Brighter Mind’s operations which are based on Brighter Mind’s operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Brighter Mind’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Brighter Minds disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Brighter Minds Media
Brighter Minds Media, Inc. is the parent company of Brighter Minds Media, LLC and is proud to offer a fun and educational line of products including software, online games, DVD games and books. It’s products are available at major retailers across the United States and Canada. Brighter Minds is publicly traded on the TSX Venture Exchange (TSX: BRI.V) and is a Hargan Ventures investee company. More information about Brighter Minds can be found at www.brightermindsmedia.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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