CreditRiskMonitor Announces Preliminary Results for 2021 and $1 Million Share Repurchase Program

Rhea-AI Summary

CreditRiskMonitor (OTCQX:CRMZ) reported preliminary operational results for the year ending December 31, 2021, indicating revenue growth to approximately $17 million and an operating income exceeding $2 million. The company's Board has approved a $1 million share repurchase program to enhance shareholder value and confidence in its financial position. These buybacks will occur at the company's discretion based on market conditions and regulatory guidelines. The figures are pending final audit, with the company emphasizing its strategic commitment to investing in its stock.

Positive

• Revenue increased to approximately $17 million, indicating strong business performance.
• Operating income grew to over $2 million, reflecting effective cost management.
• Authorized a $1 million share repurchase program to enhance shareholder value.

Negative

• None.

VALLEY COTTAGE, NY / ACCESSWIRE / February 1, 2022 / CreditRiskMonitor (OTCQX:CRMZ) announced preliminary results of operation for twelve months ended December 31, 2021. Revenue grew to approximately $17 million and Operating Income grew to approximately $2 million plus. These figures are subject to change under the final audit process.

Additionally, the Company's Board of Directors has authorized a share repurchase program for the repurchase of up to $1 million of the Company's outstanding common stock.

Mike Flum, President and COO, said, "With a strong balance sheet and cash flow performance for 2021, we are well positioned to invest in CreditRiskMonitor's common stock, consistent with our commitment to creating value for our shareholders, subject to the applicable rules and regulations."

The shares may be purchased from time to time in the open market or in privately negotiated transactions. Such purchases will be at times and in amounts as the Company deems appropriate based on factors such as market conditions, legal requirements and other business considerations. The share repurchase authorization does not obligate the company to acquire any particular amount of common stock, and may be modified, suspended or discontinued at any time or from time to time at the company's discretion.

Overview

CreditRiskMonitor (http://www.creditriskmonitor.com) is a web-based publisher of financial information that helps corporate credit and procurement professionals stay ahead of business financial risk quickly, accurately and cost effectively. The service offers comprehensive commercial credit reports and financial risk analysis covering public companies worldwide.

The Company also collects a significant amount of trade receivable data on both public and a select group of private companies every month, to help subscribers determine payment performance.

Over 35% of the Fortune 1000 plus over 1,000 other large companies worldwide depend on CreditRiskMonitor's timely news alerts and reports featuring detailed analyses of financial statements, ratio analysis and trend reports, peer analyses, bond agency ratings, crowdsourcing of risk professionals as well as the Company's proprietary FRISK® and PAYCE® scores.

Safe Harbor Statement

Certain statements in this press release, including statements prefaced by the words "anticipates", "estimates", "believes", "expects" or words of similar meaning, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, expectations or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including, among others, risks associated with the COVID-19 pandemic and those risks, uncertainties and factors referenced from time to time as "risk factors" or otherwise in the Company's Registration Statements or Securities and Exchange Commission Reports. We disclaim any intention or obligation to revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.

CONTACT:

CreditRiskMonitor.com, Inc.
Mike Flum, President & COO
(845) 230-3037
ir@creditriskmonitor.com

SOURCE: CreditRiskMonitor.com, Inc.

View source version on accesswire.com:
https://www.accesswire.com/686776/CreditRiskMonitor-Announces-Preliminary-Results-for-2021-and-1-Million-Share-Repurchase-Program

FAQ

What were the preliminary results for CreditRiskMonitor in 2021?

CreditRiskMonitor reported approximately $17 million in revenue and over $2 million in operating income for 2021.

What is the purpose of CreditRiskMonitor's $1 million share repurchase program?

The share repurchase program aims to enhance shareholder value and reflect the company's strong financial position.

When does the share buyback for CRMZ take place?

The share buyback will occur at times the company deems appropriate, based on market conditions and other factors.

What conditions affect the share repurchase program for CRMZ?

The program is subject to market conditions, legal requirements, and business considerations and can be modified or suspended at the company's discretion.