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Alternate Marketing Networks Sets Annual Meeting Date and Reports on 2008 Financial Results

Posted on: Thursday, 26 March 2009, 15:05 CDT

HUDSONVILLE, Mich., March 26 /PRNewswire-FirstCall/ -- Alternate Marketing Networks, Inc. (Pink Sheets: ALTM) has scheduled its annual meeting for June 17, 2009 at its Schaumburg office located at 428 E. State Parkway, Schaumburg, Illinois 60173. The Company reported a net profit of $257,224 on gross sales of $18,284,237 for its fiscal year ending December 31, 2008. The unaudited financial statements were prepared by management. Alternate Marketing Networks became a non-reporting company pursuant to a Form 15 filed with the Securities and Exchange Commission effective January 2, 2004 and does not currently plan to produce audited financial statements or an annual report to the shareholders or to solicit proxies for the meeting. The Company currently has 8,046,656 shares issued and outstanding.

The decrease in revenue over the last two years is largely attributable to the reduction in the placement of advertising in the automotive category. This decrease reflected the weakness of domestic automotive advertising placement. In response, the Company has expanded into new advertising categories and has added new newspaper networks. In addition, the Company has expanded its interactive site, www.dailyshowtimes.com (DST) from several local markets to a national market.

The Company's sole operating subsidiary, National Home Delivery, Inc., through its three divisions U.S. Suburban Press (USSPI), Custom Media Solutions (CMS) and Specialty Media Solutions (SMS), provides newspaper and interactive solutions to national advertisers in the United States.

Alternate Marketing Networks, Inc., and Subsidiary Selected Financial Data (in thousands) Twelve months ended December 31, (unaudited) 2008 2007 2006 Net Sales $ 18,284 $ 27,205 $ 31,952 Income from operations $ 287 $ 818 $ 1,715 Extraordinary items $ 0 $ (17) $ 0 Net income $ 257 $ 882 $ 1,701 Weighted average shares -diluted 8, 054,751 8,060,417 8,029,906 Diluted earnings per share $ 0.03 $ 0.11 $ 0.21

Statements in this news release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. The forward-looking statements can generally be identified by words such as "believes," "anticipates," "expects" or words of similar meaning. Forward-looking statements also include statements relating to the Company's future performance, such as future prospects, revenues, profits and cash flows. The forward-looking statements are subject to risks and uncertainties, which may cause actual results to be materially different from any future performance suggested in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements.

SOURCE Alternate Marketing Networks, Inc.

Source: PR Newswire

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