BrandPartners Group, Inc. today reported its financial results for the quarter ended March 31, 2009. Revenues for the quarter totaled $11.5 million compared to $9.2 million during the same period a year earlier. Net Income also increased significantly, totaling $717,234, or $.02 per fully diluted share, versus net income of $546,446, or $.01 per fully diluted share, for the same period last year.
James F. Brooks, CEO of BrandPartners, stated, â€œWe are pleased with our first quarter results, as we improved revenues, operating income and net income above the same period last year. Although the client base we service, retail financial services, continues to deal with â€˜stressâ€™ tests and other pressures, we believe that these institutions realize how important their retail networks are to their future success and will continue to invest to ensure that success.â€
â€œTreasury Secretary, Timothy Geithner, recently pointed out at a speech to community bankers in Washington that community banks â€˜will play a critical role in laying the foundation for economic recovery.â€™ From our perspective, community banks and credit unions have a strong base upon which to compete through network growth and branch improvement, and BrandPartners provides key tools to help them succeedâ€, added Mr. Brooks.
David Vazdauskas, BrandPartnersâ€™ Chief Marketing Officer, commented, â€œWe will continue to develop new innovative offerings to all of our target customers which will allow us to penetrate the market even further and increase our business with existing clients. Banks of all sizes are searching for new ways to attract, engage and retain customers at the retail level, and BrandPartners will continue to be a leader in offering solutions that improve our clientsâ€™ return on investment.â€