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Press Release
Internet Search Firm, InterSearch Group, Schedules Release Date for Full-Year 2004 Results
SAN FRANCISCO , CA. — February 16, 2005 10:40 AM US ET
InterSearch Group, Inc. (Pink Sheets: ISGP - News ), which owns and operates several Pay Per Click (PPC) Internet search engines and provides Fortune 500 companies professional consulting and search-related services, said it has scheduled February 28th to report full year 2004 consolidated operating results.
Earlier this month, the company reported to S&P its unaudited pro-forma consolidated results through Dec. 10, 2004. These results give effect as if its acquisitions had occurred on January 1, 2004. It also reported comparative financial information for its predecessor company for 2003.
Consolidated revenues for InterSearch Group and its subsidiary companies for 2004 (from Jan. 1 through Dec. 10) were $13.233 million, while net income for the period was $1.586 million. For the predecessor company in 2003, the revenues were nil, and net income was $7,000.
InterSearch Group, Inc., and subsidiaries
(In thousands, except per share)
Income statements
2004E 2003A(y)
performa(x) 12 mo. Ended
1/1/04 - 12/10/04 12/31/03
(unaudited) (audited)
Revenues $13,233 $0
Cost & Expense 11,618 27
Operating income as calculated 1,165 -27
Other Income, net -29 --
Gain from vendor settlement -- 44
Total income 1,586 17
Interest expense -- 10
Net income $1,568 $7
Earnings per share, basic $0.01 Nil
Earnings per share, diluted Nil Nil
(x) Pro forma results give effect to the company’s Oct. 27, 2004
purchase acquisition of Corporate Consulting Services and the
Dec. 10, 2004 purchase acquisition of Walnut Ventures, Inc.
and all related transactions, as if they had occurred on Jan. 1, 2004.
(y) Results for the predecessor company, MBSL Group, Inc. On Oct. 29,
2004, MBSL Group changed its name to InterSearch Group, Inc.
Currently there are 134,720,015 Common shares and 137,442,776 Preferred shares outstanding.
Further financial and company profile information can be found as reported to Standard and Poor’s (S&P) site at:
www.advisorinsight.com/pub/maccess/i/isgp_148826_print.htm
InterSearch Group consists of Walnut Ventures, which oversees the investment in and operation of multiple online paid search properties, online advertising, and internet technology development. InterSearch’s merger with Walnut was completed December 10, 2004.
On October 27, 2004, Corporate Consulting Services, (CCS) was acquired by InterSearch. CCS provides professional services in IT, financial services, training, and executive staff recruiting. In addition, CCS offers its client’s corporate search services through its sister company, Walnut Ventures.
More information about InterSearch Group, Inc. can be obtained at its website: www.InterSearch.com or by contacting the company at 415-901-0410. InterSearch Group’s stock is listed on the National Quotation Bureau under the symbol ISGP. People wishing to receive financial correspondence (including 2004 financial results) via email can sign up by visiting the IR portion of the InterSearch Group website or sending an email to tmcwilliams@kellercrescent.com.
Except for historical information, matters discussed above are forward-looking statements within the meaning of safe-harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from projected results. Those factors include, but are not limited to, economic, competitive, governmental and technological factors affecting the Company’s operations, markets, services and related products, prices or other areas. The Company undertakes no obligation to publicly release the results of any revisions to forward-looking statements.
Editor Note: To obtain an InterSearch Group logo for publication, call or email Terry McWilliams, Keller Crescent Co., using the contact information below.
# # #
Contact:
InterSearch Group, Inc.
Frank McPartland
415-901-0410 Ext. 422
fmcpartland@intersearch.com
or
InterSearch Group, Inc.
Dan O’Donnell
415-901-0410 Ext. 411
dodonnell@intersearch.com
or
InterSearch Group, Inc.
Gary Bogatay
415-901-0410 Ext. 401
gbogatay@intersearch.com
or
Keller Crescent Company
Terry McWilliams
812-426-7720
tmcwilliams@kellercrescent.com