Mastermind Operating Income Up 282% for Q2 Ending 3/31/23

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05/15/2023 - 01:12 PM

ATLANTA--(BUSINESS WIRE)-- Today, Mastermind, Inc. (OTC QB:MMND) – a leading vertically-integrated digital marketing firm specializing in designing, creating, and activating marketing campaigns for global brands - released its financial results for the second quarter ending March 31, 2023.

The 3-month and 6-month period ending March 31, 2023 showcased impressive growth for Mastermind:

Operating Income rose 282% and 71.1% for the 3-month and 6-month periods ended 3/31/23
Gross Profit rose 5.2% and 10.2% respectively for the 3-month and 6-month periods ended 3/31/23.
Revenues rose 5.4% and 12.6% respectively for the 3-month and 6-month periods ended 3/31/23.

"Our focus on increasing organic revenue and profitability has produced positive growth. With the addition of the operating income from our planned acquisition, which is set to close in Q3 or Q4 this fiscal year, we believe $3 million in operating income for FYE 2024 is reachable. We're actively exploring additional acquisition targets, and we're hopeful that we'll close at least one more by the end of FYE 2024, which will further increase our upward trajectory," said Mike Gelfond, President of Mastermind.

For a comprehensive breakdown of Mastermind's financial performance, please refer to the company's Quarterly Report on Form 10-Q for the period ending March 31, 2023. This report was filed with the Securities Exchange Commission on May 15, 2023, and contains detailed financial information.

About Mastermind, Inc.

Mastermind, Inc. provides thinking that drives results for leading marketers. It has 40 years of experience in dozens of industries helping drive results for leading brands. Mastermind has a total, data-driven approach that drives brand consideration, trial, loyalty, and advocacy. The company has extensive marketing expertise in Content, Digital, Mobile, Influencer, Social, Promotion, Channel Optimization, and Digital Issues Management. This allows Mastermind to create and execute multi-dimensional campaigns that drive results. For more information about Mastermind, Inc., please visit: www.MastermindMarketing.com.

Forward-Looking Statements

This press release of Mastermind, Inc. (the “Company”) contains, or may contain, among other things, certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission. Actual results (including, without limitation, market acceptance of the Company’s services; competition from existing products/services or new products/services that may emerge; the implementation of the Company’s business model and strategic plans for its business and its services; estimates of the Company’s future revenue, expenses, capital requirements and need for financing; and developments relating to the Company’s competitors) may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.