JACKSONVILLE, Fla, May 17, 2005--a21, Inc. ("a21") (OTCBB: ATWO - News), a leading online digital content marketplace for creative professionals, today announced financial results for the first quarter ended March 31, 2005.
Gross revenue for the first quarter of 2005 was $2,312,000, compared to $798,000 for the same period in 2004. Net loss for the first quarter of 2005 was $701,000, or $0.02 per share, versus net loss of $600,000, or $0.02 per share, for the same period in 2004. Earnings per share for the first quarter of 2005 is calculated on the basis of 38,136,237 weighted average shares outstanding, compared to 25,726,916 weighted average shares outstanding for the same period in 2004.
"During the first quarter, a21 continued to make positive strides in our business in both the operations of our subsidiary, SuperStock, as well the financial health of a21," said Albert H. Pleus, Chairman and CEO of a21. "On the fiscal management side, in February 2005 we completed a financing with our existing investors on more favorable terms, which improves a21's financial position and flexibility by providing increased working capital."
"From an operations standpoint, we made significant progress in four areas: content, sales, technology, and management," added Thomas V. Butta, Vice Chairman and President of a21 and CEO of SuperStock. "Regarding content, the SuperStock image collection surpassed the one million mark in the first quarter. Since the a21 acquisition of SuperStock on February 29, 2004, the total number of images available online has grown by more than 80 percent.
"In direct sales, we showed sequential growth over fourth quarter results as well as over first quarter 2004 in both direct and channel sales. Regarding technology, we continued to make performance improvements and add new features to SuperStock.com. Our management team continues to recruit top talent into the company as evidenced by key changes in sales and marketing leadership positions," said Butta.
a21 (http://www.a21group.com) is a leading digital content marketplace for the professional creative community. Through SuperStock (http://www.superstock.com), a21 delivers high quality images and exceptional customer service. Together a21 and SuperStock provide a whole new level of image access to photographers, artists, photography agencies and other customers, offering a valuable and viable choice in the stock image industry.
The statements contained in this press release contain certain forward-looking statements, including statements regarding a21, Inc.'s expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to a21, Inc. management as of the date hereof and actual results may vary based upon future events, both within and without the control of a21, Inc.'s management.