[KP:C Logo]
KUPPER PARKER COMMUNICATIONS REPORTS FIRST QUARTER 2003 PROFITS
ST. LOUIS, February 19, 2003 -- Kupper Parker Communications, Incorporated
(OTC/BB: KPCG.OB), a global marketing communications company, today announced
net income of $282,481 or $.05 per share, for the three months ended January 31,
2003, compared with a net loss of $528,313 or $.09 per share for the first
quarter of 2002. These results reflect the company's third consecutive quarter
of operating profit, excluding unusual items in the fourth quarter of 2002.
According to Bruce Kupper, chairman and chief executive officer of KPC, "Our
revenue performance is on track, and our expense reduction strategies have taken
hold, producing a profitable quarter -- and bottom line improvement of over
$800,000 when compared to the same period last year."
Revenue was $3,096,375 during the first quarter, compared with $3,722,319 in the
same quarter of 2002. Operating expenses were reduced 34.5% to $2,766,778
compared with $4,221,697 in the same quarter in 2002.
"Uncertainty in the economic and political climate continues to make us
cautious. But, we're executing on our strategy of integrating our network of
offices and producing results," Kupper said. "We'll continue to focus on growing
modestly but profitably by sticking to the fundamentals -- delivering value to
current clients, developing significant new business relationships, and keeping
expenses down."
New Business Developments
Kupper Parker has added clients in recent months that benefit from KPC's ability
to deliver programs national in scope by leveraging its office network and
industry experience in industries such as health care, communications and
financial services.
o Cablevision, headquartered in Beth Page, NY, is one of the nation's leading
entertainment and telecommunications companies.
o Key Principal Partners, an affiliate of KeyBank Corporation, headquartered
in Cleveland, with additional offices in St. Louis, San Francisco and
Greenwich, Conn., is a $1 billion private investment firm, offering both
junior and venture capital.
About Kupper Parker Communications
Headquartered in St. Louis, KPC provides a full range of marketing
communications services domestically and internationally through its offices and
affiliates in 13 markets in the United States and Europe. KPC's U.S. markets
include: Boston; Chicago; Kansas City, Mo.; Louisville, Ky.; Memphis, Tenn.;
Melville, NY; and St. Louis. KPC continues to extend its services in Europe
through an ownership interest in Communications in Business, headquartered in
London with offices in Brussels, Dusseldorf, Milan, Paris and Madrid.
KPC ranks in the top 100 agency brands in the U.S. according to AdWeek. Based on
public relations income, PRWeek ranks KPC among the nation's top 100 public
relations firms, and among the top 50 healthcare public relations firms. Among
business-to-business agencies, KPC is ranked in the top 100 firms, based on
gross income.
SAFE HARBOR
Statements included in this news release may contain forward-looking statements,
including but not limited to statements of the Company's plans, objectives,
expectations or intentions, that involve risk and uncertainties. The Company's
actual results may differ significantly from those projected or suggested in any
forward-looking statement due to a variety of factors, which are discussed in
detail in the Company's filings with the Securities and Exchange Commission.
More information is located at www.kupperparker.com.
(Three Month Financial Tables To Follow)
CONTACT: Mary Scholz Barber
Kupper Parker Communications
(314) 290-2013
mbarber@kupperparker.com
KUPPER PARKER COMMUNICATIONS, INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED INCOME STATEMENTS
(UNAUDITED)
QUARTER ENDED JANUARY 31,
------------------------------------------------------------------
2003 2002 %
--------------------- ------------------- --------------------
REVENUES $ 3,096,375 $3,722,319 -16.8%
OPERATING EXPENSES:
Salaries and Benefits 2,023,909 3,051,532 -33.7%
Office and General 742,869 1,007,374 -26.3%
Unusual Items - 162,791 -100.0%
--------------------- -------------------
Total Operating Expenses 2,766,778 4,221,697 -34.5%
--------------------- -------------------
Operating Income 329,597 (499,378) N/A
OTHER INCOME (EXPENSE):
Interest income 1,945 7,757 -74.9%
Interest expense (49,061) (36,692) 33.7%
--------------------- -------------------
(47,116) (28,935) 62.8%
--------------------- -------------------
Pretax Income 282,481 (528,313) N/A
PROVISION FOR TAXES - - N/A
--------------------- -------------------
NET INCOME $ 282,481 $ (528,313) N/A
===================== ===================
EARNINGS PER SHARE:
Basic $ 0.05 $ (0.09) N/A
===================== ===================
Diluted $ 0.05 $ (0.09) N/A
===================== ===================