Today, Horiyoshi Worldwide, Inc. announced its financial results for the six month period which ended on June 30, 2011. During this period, the company saw revenues increase over 2010’s results by 76%. Throughout the second quarter, Horiyoshi focused its efforts on building brand recognition, developing its distribution capabilities and designing innovative new products. Revenues for the nine months ended September 30, 2011 are projected to increase 29% over 2010’s results.
The company plans to implement several strategic initiatives in the upcoming quarters, including the development of new collections aimed at significantly larger markets (alleviating the seasonality of its earnings); introducing its first retail store in London (dedicated to the distribution of the Horiyoshi collection); the roll out of the new Heroes and Demons line aimed at mass market distribution; and the growth of its new Online Store during the third quarter and beyond.
On the company’s sixth month performance, Mitsuo Kojima, CEO of Horiyoshi Worldwide, Inc., remarked, “We continue to remain highly focused on implementing our strategic plan to build Horiyoshi Worldwide into a successful international brand. With our current product line there is a great deal of seasonality in our reported revenues and earnings. As we develop our new product lines this seasonality will fade and we will be in a position to build on every quarter. Our company continues to assemble the infrastructure necessary to create a dynamic platform for growth.”
He added, “We have received a great deal of attention for our design innovation and the quality of our clothing and strongly believe that the goodwill we have created will open doors for our new product lines. Our company also continues to develop a number of new channels to distribute our collections and increase recognition of the Horiyoshi brand. We believe in the coming quarters there will be many new opportunities and we are positioning our company in every way to take advantage of them.”
Raymond Catroppa, CFO of Horiyoshi Worldwide, Inc. added, “The new initiatives the company is executing will deliver value for investors for many years to come. The founders and the management of Horiyoshi Worldwide, Inc. have made a commitment to position our company to build a successful brand, grow the revenue base and attain financial profitability. Our company will continue to make the investments that are necessary to increase shareholder value for the future”.
About QualityStocks:
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://Gotstocks.QualityStocks.net
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment