2008-10-07 00:44:02 -
www.mdisecure.com - MDI, Inc. Investor Relations Contact: Richard A. Larsen, 210-582-2664 Richard.Larsen@mdisecure.com or Media Contact: Michael M. Garcia, 210-477-5400 Mike.Garcia@mdisecure.com MDI, Inc. (NASDAQ: MDII), announced today that it was profitable for the third quarter of 2008 and it continues to be encouraged about its prospects of sustaining profitability for the balance of
2008 and thereafter.
Results of Q3 2008 - The Company today announced select financial results for the third quarter ended September 30, 2008, as follows:
Revenue was $5.3 million, an increase of $1.9 million, or 56%, over Q2 2008 and an increase of $3.5 million, or 186%, over the same period in 2007.
EBITDA plus non cash stock option expense was $380 thousand, an increase of $1.1 million over Q2 2008 and an increase of $1.2 million over the same period in 2007. Operating profit was $70 thousand. Compared to the third quarter 2007, selling, general and administrative expenses decreased by $500 thousand, reflecting the Company's on-going cost management.
Complete financial results for the third quarter will be contained in the Company's Form 10-Q to be filed with the Securities and Exchange Commission on or before November 14, 2008.
Letter to Shareholders - J. Collier Sparks, CEO and President of MDI, Inc. (NASDAQ: MDII), announced today that he would release his Letter to Shareholders focused on reporting the company's current corporate position, major objectives achieved and future direction.
The Letter to Shareholders may be read at the Company's website:
www.mdiincorporated.com/literature/investors/letter.pdf
Forward-Looking and Cautionary Statements
Except for historical information and discussions contained herein, certain statements included in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this document, other than statements of historical fact, that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements represent our reasonable judgment on the future based on various factors and using numerous assumptions and are subject to known and unknown risks, uncertainties and other factors that could cause our actual results and financial position to differ materially from those contemplated by the statements. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as "anticipate," "estimate," "project," "forecast," "plan," "may," "will," "should," "expect" and other words of similar meaning. Investors should not rely on forward-looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the Company's expectation. Additional information concerning risk factors is contained from time to time in the Company's SEC filings. The Company expressly disclaims any obligation to update the information contained in this release.
Chief Executive Officer J. Collier Sparks Releases Q3 Letter to
Shareholders
