a
60 Cutter Mill Rd.
Suite 205
Great Neck, NY
11021
Tel: 516.444.3400
Fax: 516.444.3404

 

Press Releases
Source: DAG Media, Inc.

DAG Media, Inc. Reports Fiscal Year 2005 Consolidated Financial Statements

March 16, 2006

NEW YORK, -- DAG Media Inc. announced today that advertising revenue for the year ended December 31, 2005 was $4,447,000 versus advertising revenue of $5,949,000 for fiscal year 2004, a decrease of $1,502,000 or 25.20%. Advertising revenues for the year ended December 31, 2004 included $461,000 of net recognized revenues resulting from the ninth and last edition of the sold New Yellow Manhattan Directory as well as one time graphics income of $31,000. The remaining $1,010,000 decrease in revenues was attributable to decreased revenues from the Jewish Israeli Yellow Pages directory by $873,000 and a $137,000 decrease in revenue of the Jewish Master Guide directories published in fiscal 2005. As DAG Interactive, Inc. and NextYellow.com initiate operation on or about June of 2006, we anticipate revenues to derive from monthly fees of subscriptions charges to businesses, which will be in excess to the leads generated by NextYellow.com. In addition, we intend to sell advertising on our web site.

Gross profit decreased to $3,788,000 for the year ended December 31, 2005 versus gross profit of $5,046,000 in fiscal 2004.

For the year ended December 31, 2005, consolidated loss from continuing operation before provision for income taxes was $456,000 compared to income of $ 176,000 in fiscal 2004. The decrease of $632,000 was mainly attributable to decreased revenues on our current publications combined with the lack of income resulting from the sold New Yellow Manhattan directory, which was still published during 2004. Net loss from continuing operations was $456,000 and loss from discontinued operations was $55,000 in fiscal 2005, versus net income from continuing operations of $105,000 and income from discontinued operations $930, 000, in fiscal 2004, respectively. The decreased in income from discontinued operations of $985,000 was mainly attributable to the gain resulting from the sale of the Blackbook Photography Inc., on August 2004. Net loss for the year ended