THINK New Ideas Revenues, Income Rise
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THINK New Ideas Inc. in New York City reported revenues for the three-months ended March 31 of $11.0 million, an increase of 160% from $4.2 million in the year-earlier period.
Net income reported for the third quarter was $660,000 or $0.10 per diluted share.
For the nine-months, net revenues increased 128% to $28.0 million, from $12.0 million a year ago. Net income increased 155% to $1.2 million, or $0.18 per diluted share, from a net loss of $2.2 million, or $0.51 per share, for the comparable year-earlier period.
"Our third quarter results signify a consistent revenue and increasing profitability trend for THINK," said Scott Mednick, THINK chairman and CEO. "We are pleased by the considerable increase in performance over the last year and feel we are on target to accomplish our goals for intelligent growth and sector dominance."