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myPhotopipe.com Reports First Profitable Quarter for Three Months Ended June 30, 2007
Company continues to grow through new product offerings and strategic marketing initiatives
Wednesday Aug. 1, 2007
ATLANTA, Georgia – August 1, 2007-- myPhotopipe.com,
Inc. (OTC: MPPC.PK), a web-based online provider of digital photo
processing and related services, today announced its operating results
for the second quarter and first half of 2007.
For the three months ended June 30, 2007, the
Company’s revenues increased 17% to $334,128, compared with
revenues of $286,351 in the second quarter of 2006. Excluding the
Company’s Charlotte, North Carolina, operations, revenues
from myPhotopipe.com, the Company’s online site for digital
photographers, rose 33% when
compared with the prior-year period.
The Company reported its first profitable quarter
for the three months ended June 30, 2007. Net income totaled $5,975
in the second quarter of 2007, versus a net loss of ($26,543) in
the three months ended June 30, 2006.
“We are very pleased with our results in
what is traditionally a very difficult quarter,” noted L.
Douglas Keeney, Chief Executive Officer of myPhotopipe.com, Inc.
“Our revenue growth, and our ability to generate a profit,
however modest, tell us that our marketing programs and strategic
partnerships are continuing to produce the desired results. With
our ongoing upgrades in technology, our portfolio of new products,
and our programs to maximize the efficiency of our production infrastructure,
myPhotopipe.com is well-positioned for continued growth.”
During the most recent quarter, the Company added
to its line of digital photo tools and products geared toward the
professional photographer with the release of PRPrintPro™,
which targets professional sports organizations, publicity firms,
and the celebrity/personality market. This application combines
six of the most cumbersome steps in the creation of a promotional
print into one, easy-to-use platform. PRPrintPro™ is an offshoot
of a tool developed for the U.S. Department of Homeland Security
and was beta tested with the Atlanta Falcons football team before
the national launch.
The Company also announced the availability of
prints on Fuji Crystal Archive Pearl, a specialized photographic
paper surface with a slightly metallic look. Pearl represents the
Company’s fifth paper choice in its line of professional photo
print products.
As iStockphoto’s printing partner, myPhotopipe.com,
Inc. will provide prints to the winners of the “Punctum Day”
competition, which is scheduled for August 19, 2007, to commemorate
the day 168 years ago (1839) that Louis Daguerre formally introduced
the camera to the world. The winning image of the year will also
be printed in large format and mailed to the top iStockPhoto customers
worldwide. “Punctum is a celebration of photography that has
a distinct edge,” noted Pete Casabonne, President of myPhotopipe.com,
Inc. “And how appropriately named this competition is. Today’s
photographers are creating some of the most exciting work ever.”
(see www.cnw.ca/fr/releases/archive/July2007/23/c8584.html).
Traditional marketing programs continue to meet
management’s expectations. During the second quarter of 2007,
the Company’s website was “bookmarked” 39,616
times and its software was downloaded 13,439 times. Approximately
1,100 new customers placed initial orders during the period. The
Company also opened a Scottsdale, Arizona sales office during the
quarter.
For the six months ended June 30, 2007, the Company’s
revenues rose 13% to $609,810, compared with revenues of $536,665
in the first half of 2006. Excluding the Company’s Charlotte,
North Carolina, operations, revenues from myPhotopipe.com, the Company’s
online site for digital photographers, rose 30% when compared with
the corresponding period of the previous year. The Company reported
a net loss of ($51,700) in the first half of 2007, versus a net
loss of ($97,129) in the six months ended June 30, 2006.
About myPhotopipe.com, Inc.
myPhotopipe.com, Inc. is a web-based (2.0) online provider of digital photo processing, photo finishing, photo sharing, and related services. The Company’s unique blend of 104 print options, combined with manual print inspections and professional color management, have positioned myPhotopipe.com as one of the fastest-growing providers of digital photography services for professionals and serious amateurs.
The Company is headquartered in Atlanta, Georgia, and its common stock is listed on the OTC Pink Sheets under the symbol “MPPC”. Additional information is available on the Internet at www.myPhotopipe.com.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are subject to the “safe harbor” created by those sections. Such forward-looking statements are based upon current information and expectations regarding myPhotopipe.com, Inc. These statements speak only as of the date on which they are made, are not guarantees of future performance, and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecast in such forward-looking statements.
myPhotopipe.com, Inc. assumes no obligation to update the information contained in this release. Any forward-looking statements in this press release may be materially impacted by any number of factors, any or all of which could have a negative impact on sales, operating results, financial and budgetary constraints. The statements made herein are independent statements by myPhotopipe.com, Inc. The inclusion or mention, if any, of third parties in this press release does not represent an endorsement of any myPhotopipe.com, Inc. products or services by any such third party.
For more information contact:
L. Douglas Keeney,
CEO 1- 404-881-3855 1670 Northeast Expressway OR RJ Falkner & Company, Inc., |
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