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UPDATE -- Helios And Matheson Expects To Report $108,000 In Net Income For Q2 2013

Stocks in this article: HMNY

NEW YORK, July 25, 2013 (GLOBE NEWSWIRE) -- HELIOS AND MATHESON Analytics Inc (the "Company") (Nasdaq:HMNY), a 30 year old IT services organization focused on the banking, financial services, insurance and healthcare sectors, is providing the following preliminary (unaudited) information regarding the results of its operations for the second quarter of the year ended June 30, 2013:

The Company expects to report a 6% increase in net income for Q2-2013 as compared to Q2-2012, an increase from $101,000 or $0.04 per basic and diluted share (EPS) to $108,000 or $0.05 per basic and diluted share (EPS).

The Company continues to be debt free. The Company expects to close the second quarter of 2013 with total assets of $5.5 million and total liabilities of $1.3 million. Below is the summary of select financial data:

  Three Months Ended
(In 000s except per share amounts) 6/30/2013 6/30/2012
  (Unaudited) (Unaudited)
Revenue $3,440 $2,960
Gross Profit $788 $701
Income from operations $110 $102
Net Income $108 $101
EPS per basic and diluted share $0.05 $0.04
Cash and Cash Equivalents (million) $2.13 $2.03

The Company expects that gross margin will be at 23% for the second quarter of 2013 as compared to 24% in the second quarter of 2012, which decrease resulted from a change in revenue mix. Selling, general and administrative costs are expected to be $679,000 in the second quarter of 2013, which would be an increase of 13% from the second quarter of 2012 due to certain one-time charges primarily relating to promotion of the company's predictive analytics offering. About Helios and Matheson Analytics Inc

Helios and Matheson Analytics Inc is a 30 year old IT services organization focused on the banking, financial services, insurance and healthcare sectors. Its common stock is traded on the Nasdaq Global Market under the ticker symbol "HMNY".

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