Mastermind, Inc. (OTC Pink: MMND), a leading involvement marketing agency that designs, creates and activates marketing campaigns for global brands, today announced financial results for its fiscal year ending September 30, 2018 showing year-over-year growth in revenue, gross profit, and income from operations.
We are pleased with Masterminds sustained growth and success, which puts us in a position of continued advancement in the year ahead, stated Daniel Dodson, CEO of Mastermind. Mastermind successfully attracts and retains elite professionals that develop next-thinking marketing initiatives for blue chip brands. We will continue to deepen capabilities in influencer marketing and augmented reality marketing, which we believe will fuel faster growth in the coming years. Mastermind also seeks strategic acquisitions in the coming months to support our growth.
Highlights from Masterminds fiscal year (October 1, 2017 – September 30, 2018) include:
- Total revenues increased 23 percent from $4,264,922 to $5,229,465
- Year-end operating income increased 23 percent from $1,016,254 to $1,250,228
- Gross profit increased 37 percent from $3,283,467 to $4,484,678
- General and administrative expenses increased 43 percent from $2,267,213 to $3,234,450 due to 1) additional personnel added to deliver on services attributable to Masterminds increased revenue, and 2) the increased expenses associated with becoming a public company, including legal fees, accounting fees, insurance, etc.
- Net income before taxes increased approximately 20 percent, from $994,024 to $1,193,399
- At year end, Mastermind had cash and cash equivalents of $861,371 and current assets of $2,037,883, as compared with $545,904 and $1,501,149 respectively the previous year
Our investment in people continues to deliver ROI for Mastermind by helping clients better leverage their marketing investments and generate success, stated Michael Gelfond, President of Mastermind.
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Detailed financial information can be found in Masterminds Annual Report on Form 10-K for the period ended September 30, 2018, filed with the Securities Exchange Commission on January 15, 2019.
About Mastermind, Inc.
Mastermind, Inc. provides thinking that drives results for leading marketers. It has over 30 years of experience in dozens of industries helping involve people with brands in ways that inspire them to take action. Mastermind has a total, data-driven approach that drives brand consideration, trial, loyalty, and advocacy. The company has extensive marketing expertise in Content, Digital, Influencer, Social, Promotion, Channel Optimization, and Contingency Communications. This allows Mastermind to create and execute multi-dimensional campaigns that drive results. More information about Mastermind, Inc. is available at its website: www.MastermindMarketing.com.
This press release of Mastermind, Inc. (the Company) contains, or may contain, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Companys plans, objectives, projections, expectations and intentions and other statements identified by words such as projects, may, will, could, would, should, believes, expects, anticipates, estimates, intends, plans, potential or similar expressions. These statements are based upon the current beliefs and expectations of the Companys management and are subject to significant risks and uncertainties, including those detailed in the Companys filings with the Securities and Exchange Commission. Actual results (including, without limitation, market acceptance of the Companys services; competition from existing products/services or new products/services that may emerge; the implementation of the Companys business model and strategic plans for its business and its services; estimates of the Companys future revenue, expenses, capital requirements and need for financing; and developments relating to the Companys competitors) may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Companys control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
For Mastermind, Inc.