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DENVER, Jan. 16, 2013 (GLOBE NEWSWIRE) -- ChineseInvestors.COM (OTCBB:CIIX), a provider of general business and financial news in China, reported improved earnings for second quarter of 2013.
The Company reported total revenues of $460,034 for the quarter ended November 30, 2012, as compared to revenues of $425,676 for the period ended August 31, 2012. The substantial increase in revenues represents an 8% sequential revenue growth rate. The positive trends were also reflected in a substantial decrease in operating losses. The net loss for the quarter ended November 30, 2012 was $240,061 as compared to $284,192 in the previous quarter for the same year. The company also showed a modest profit for the month of September 2012. It should also be noted that the revenues generated in the first two quarters of FY 2013 roughly equaled the entire year's revenues as reported for FY2012.
Mr. Warren Wang, Chairman and Chief Executive Officer of ChineseInvestors.COM commented, "This is another milestone for the Company as we continue to gain traction with our latest endeavor in our partnership with CBN iTV, and the Shanghai Media Group in China; which is producing a one hour nightly program covering the US Financial Marketplace launched late last year. We feel that the Company is making excellent progress in its efforts to achieve profitability this year."
Mr. Wang also expressed optimism regarding several new business opportunities under development as well as the positive trends in revenues. Mr. Wang completed his comments by saying, "The Company is expecting to show continued improvement in its overall performance in the third quarter (FY 2013)"