ChinsesInvestors.com today reported first-quarter financial results reflecting year-over-year improvements in profit and sales.
The company posted a net loss of $284,192 for the first quarter of fiscal 2013, a decrease of 59 percent compared to a net loss of $694,727 the year prior.
First-quarter revenues of $425,676 represent an increase of 55 percent compared to revenues of $273,717 reported in the first quarter of fiscal 2012.
ChineseInvestors.com also reported that preliminary sales numbers for September 2012 grew to an all-time monthly high, surpassing $280,000. The corresponding preliminary income statement for September forecasts September 2012 profit of more than $60,000.
"This is a real milestone for the company as it prepares to roll out its latest endeavor in partnership with CBN iTV and the Shanghai Media Group in China, which will produce a one hour nightly news program covering the U.S. financial marketplace," Warren Wang, CEO of ChineseInvestors.com stated in the press release. "We are very excited by these latest updates and feel that the company is making excellent progress in its efforts to become profitable this year."
The company said it expects a strong second quarter in fiscal year 2013 ending Nov. 30, 2012, with sales forecast to surpass revenues related to the prior year in its first six months of operations.
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