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United Communications Partners Inc. Improves Statement of Operations and Balance Sheet in Fiscal 2011(November 14, 2011)
NEW YORK, NEW YORK -- (Marketwire) -- 11/14/11 -- United Communications Partners Inc. (OTCQB:UCPA), an innovative integrated U.S. advertising and performance-based marketing company with a multinational client base, announced yesterday its unaudited financial statements for the three and nine months ended September 30, 2011 with significant financial improvements.
CFO Ulrik Gerdes state, "Our third quarter operations brought us close to a break even with a loss of only $47,000 which compared to the prior quarters of 2011, is a significant improvement. Moreover, during the third quarter we provided $631,000 in cash from operations as oppose to $193,000 during the second quarter and a cash use from operations of $308,000 in the first quarter. The positive development in both key financial figures, arise from the operations of our Swedish subsidiary Tre Kronor Media AB, which continue its organic growth in both revenues and profits."
CEO Niclas Froberg declared, "Our strategy going forward is to continue a controlled organic growth in current operations and further to, either acquire initial smaller ownership in existing companies, or by taking active part in the establishing of new companies within our areas of key competence and on markets in which we have in deep knowledge. As an example we participated, during September 2011, in the establishing of CCCP Media AB, in which Tre Kronor Media AB holds a 33% interest. In October 2011, CCCP Media AB announced their win of an international client Gina Tricot with an approximately $40 million media buying in 2010."
Investors are referred to the Company's quarterly report on Form 10-Q for the three and nine months ended September 30, 2011, filed with the Securities and Exchange Commission on November 10, 2011 for a complete discussion of the Company's operating results and financial condition for the three and nine months ended September 30, 2011.
About United Communications Partners Inc.
United Communications Partners Inc. is a pioneering U.S. communications company aiming to create a network of multiplatform media and advertising houses by acquiring profitable and innovative media and advertising companies in order to rapidly expand its presence in the U.S. and Europe. Through its growing network of companies, United Communications Partners is adding more competencies and media under one roof, expanding its customer and revenue base and ultimately winning significantly larger international clients.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned", "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company's annual report on Form 10-K and other filings made by such company.
Tre Kronor Media & Reklam
United Communications Partners
Cell +46 735 050505
Phone +46 8 660 73 33
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