This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

TMNG Global Reports 2010 Second Quarter Results

OVERLAND PARK, Kan., Aug. 5, 2010 (GLOBE NEWSWIRE) -- TMNG Global (Nasdaq:TMNG), a leading provider of management consulting and software solution services to the global communications, media and entertainment industries, reported financial results for its 2010 second quarter ended July 3, 2010. All per share amounts have been adjusted to reflect the 1-for-5 reverse stock split of the Company's common stock effective February 7, 2010.

"TMNG Global has posted improved performance through the first half of the year led by our success in solidifying activities with our largest client relationships, strong contributions from our strategic consulting unit, and sound operating expense management," said Richard Nespola, TMNG Global Chairman and CEO. "Strategic consulting historically performs well ahead of economic recovery as clients begin deploying capital into new businesses, next generation platforms and advanced service offerings, creating opportunity for engagement extensions into our operational and software offerings. In this cycle, renewed investment is apparent in areas including mobility, migration to cloud computing architectures, capital formation, and M&A due diligence. We are active in all of these areas and positioned well to participate in our share of a healthy new business pipeline. That said, market conditions remain unpredictable and highly competitive for consulting firms, mandating that we maintain cost discipline as we focus on growing revenues and cash flows from operations in 2010."

Financial Results for the Thirteen Weeks Ended July 3, 2010

Revenues in the second quarter of 2010 were $17.0 million, compared to $16.8 million in the 2009 second quarter and $17.5 million in the 2010 first quarter. Included in year-over-year revenue growth is a greater than 100% increase in strategic consulting services, further strengthening our position among our largest customers. During the quarter, TMNG's gross margin was 39.1%, compared with 43.6% in the second quarter of 2009 and 37.8% in the first quarter of 2010. On a year-over-year basis, competitive pricing pressure associated with a marginal economy negatively impacted margins. The sequential increase in gross margin reflected a higher mix of strategic consulting services.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
TMNG $4.12 -0.41%
AAPL $128.46 0.00%
FB $78.97 0.00%
GOOG $558.40 0.00%
TSLA $203.34 0.00%


DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs