VALLEY COTTAGE, N.Y., March 18, 2019 (GLOBE NEWSWIRE) -- CreditRiskMonitor (OTCQX: CRMZ) reported that revenues for the year ended December 31, 2018 increased to $13.89 million up 4% compared to 2017. The Company reported a pre-tax loss of $192,200 for 2018 compared to $230,700 in the prior year. Net loss for 2018 was $179,300 compared to net income of $12,100 in the prior year, as the Company recorded a benefit from income taxes of almost $221,000 in 2017 related to the lowering corporate income tax rates from a maximum of 35% to a flat 21% rate effective January 1, 2018. Cash and cash equivalents at the end of 2018 decreased to $8.07 million from the 2017 year-end balance of $8.74 million.

Jerry Flum, CEO, said, “We’re continuing to follow our long-term business strategy of investing in infrastructure and new data content to make our product more attractive, realizing that while this strategy reduces our profitability in the short-term it will enhance our long-term prospects. Additionally, we continue to be debt-free and our strong balance sheet provides us with financial flexibility to manage our company to achieve our long-term goals.”

CREDITRISKMONITOR.COM, INC.
STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017
	2018				2017
Operating revenues	$	13,891,004			$	13,385,068
Operating expenses:
Data and product costs		5,764,535				5,426,779
Selling, general and administrative expenses		8,257,619				8,044,256
Depreciation and amortization		190,156				191,960
Total operating expenses		14,212,310				13,662,995
Loss from operations		(321,306	)			(277,927	)
Other income, net		129,111				47,216
Loss before income taxes		(192,195	)			(230,711	)
Benefit from income taxes		12,863				242,781
Net income (loss)	$	(179,332	)		$	12,070
Net income (loss) per share of common stock:
Basic and diluted	$	(0.02	)		$	0.00
CREDITRISKMONITOR.COM, INC.
BALANCE SHEETS
DECEMBER 31, 2018 AND 2017
	2018				2017
ASSETS
Current assets:
Cash and cash equivalents	$	8,066,899			$	8,735,148
Accounts receivable, net of allowance of $30,000		2,454,585				2,139,707
Other current assets		561,861				530,699
Total current assets		11,083,345				11,405,554
Property and equipment, net		543,762				437,216
Goodwill		1,954,460				1,954,460
Other assets		35,613				23,463
Total assets	$	13,617,180			$	13,820,693
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Unexpired subscription revenue	$	8,738,445			$	8,304,877
Accounts payable		94,767				58,901
Accrued expenses		1,311,218				1,344,526
Total current liabilities		10,144,430				9,708,304
Deferred taxes on income, net		490,381				514,333
Other liabilities		24,537				15,748
Total liabilities		10,659,348				10,238,385
Stockholders’ equity:
Preferred stock, $.01 par value; authorized 5,000,000
shares; none issued		-				-
Common stock, $.01 par value; authorized 32,500,000
shares; issued and outstanding 10,722,401 shares		107,224				107,224
Additional paid-in capital		29,650,760				29,559,784
Accumulated deficit		(26,800,152	)			(26,084,700	)
Total stockholders’ equity		2,957,832				3,582,308
Total liabilities and stockholders’ equity	$	13,617,180			$	13,820,693

About CreditRiskMonitor

CreditRiskMonitor (http://www.crmz.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. Unlike other commercial credit bureaus like Dun & Bradstreet, CreditRiskMonitor’s primary expertise and focus is on financial analysis of public debt and equity companies.

The Company also collects more than $140 billion 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, 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.
Jerry Flum, CEO
(845) 230-3030
ir@creditriskmonitor.com

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