Conditional Sentences in Financial Reports: "Had the acquisition of SuperStock occurred at the beginning of fiscal 2004, revenue for the six-months ended June 30, 2004 would have been $4.8 million." Anyway, here are the A21Group key numbers:
-Gross revenue for the second quarter of 2004 was $2.5 million
-Gross revenue for the six-months ended June 30, 2004 was $3.3 million
(Raed more at BusinessWire: "a21 Reports Second Quarter Financial Results")
The Florida Times-Union delivers some additional information in "Shooting for super status in stock image industry":
By comparison, a21 is relatively small, as SuperStock is currently producing close to $10 million in annual revenue. But third-place is not an unreasonable goal. According to SunTrust Robinson Humphrey analyst Chris Rowen, who follows Getty, after Getty and Corbis, the third-biggest firm in the industry probably has about $50 million in annual sales.
And in a fragmented industry, there are plenty of acquisition opportunities to grow a company despite a number of acquisitions by Getty and Corbis.
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A21 was formed in 2000 by Pleus, an investment banker, and became public two years ago by merging with another public company while it looked for acquisition opportunities in the stock image industry.
Pleus brought Haim Ariav in as president to help form the company. Ariav, a former fashion and beauty photographer, had run his own Web design and production company in New York called Muffin-Head Productions Inc. before selling it to DVCi Technologies in 1998. Ariav said his experience made him a perfect candidate to run a stock image company.
"I get the chance to use all my Internet experience and photography experience and put it into one company," he said.
[..]
According to a filing with the Securities and Exchange Commission, a21 paid $2.6 million in cash and paid off $2.2 million in debt to acquire SuperStock. It also issued convertible preferred stock to SuperStock's owners.
[..]
As a private company, SuperStock didn't report financial results. But according to SEC filings made by a21 after the acquisition, SuperStock had net operating losses in the previous four years. Still, a21officials were confident about SuperStock's finances.
