EXHIBIT 99.6
ACE MARKETING & PROMOTIONS, INC.
457 ROCKAWAY AVENUE
VALLEY STREAM, NY 11581
(516) 256-7766
ACE REPORTS RESULTS OF OPERATIONS FOR THE THIRD QUARTER OF 2009
VALLEY STREAM, NY - (Business Wire) - November 16, 2009
Ace Marketing & Promotions, Inc. (OTC BB: AMKT) announced today the results for
its third quarter ended September 30, 2009 and the nine months ended September
30, 2009.
Three months Ended September 30, 2009 2008
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Revenue (A) $ 938,824 $ 1,480,577
Cost of Revenue (B) 770,028 1,056,082
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Gross profit (C) 168,796 424,495
Selling, General & Administrative expenses (D) 653,625 763,795
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Loss from Operations (E) $ (484,829) $ (339,300)
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Nine months Ended September 30, 2009 2008
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Revenue $ 2,235,103 $ 4,706,627
Cost of Revenue 1,601,245 3,444,777
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Gross Profit 633,858 1,261,850
Selling General & Administrative expenses 1,743,758 2,097,674
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Loss from Operations (1,109,900) (835,824)
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(A) Revenues decreased due to the general state of economy and customers
choosing to cancel or delay purchases of promotional products and the
non-reoccurrence of a major one-time order with the New York State
Troopers of $685,000.
(B) Cost of revenues decreased directly due to decreases in sales.
(C) Gross profit percentage for the third quarter was 18% versus 29% for
the comparable period of the prior year. The gross profit percentage
for the nine months ended September 30, 2009 was 28% as compared to
27% for the comparable period of the prior year. Gross profit for the
third quarter decreased approximately $256,000 and for the nine months
ended September 30, 2009 decreased by approximately $628,000, as
compared to the comparable period of the prior year, due to decreasing
sales.
Operating expenses for the three months ended September 30, 2009
decreased by approximately $110,000 and decreased for the nine months
ended September 30, 2009 by $354,000, respectively, as compared to the
comparable period of the prior year. Operating expenses for the three
months ended September 30, 2009 include a decrease in stock based
payments (non-cash) of approximately $49,000 as compared to the
comparable period of the prior year.
(D) Net loss for the three months ended September 30, 2009 increased by
approximately $146,000 over the comparable period of the prior year.
Net loss from operations for the nine months ended September 30, 2009
increased by approximately $274,000 due to substantial decreases in
sales and an increase in operating expenses (primarily in stock based
payments) (non-cash).
ABOUT ACE MARKETING
Ace Marketing & Promotions, Inc. is a premier Promotional Marketing solutions
company. Its Corporate Overview is available at http://www.acemarketing.net on
the "About Us" tab. In addition Ace has also added several new revenue stream
models. The long-term strategic plan is for Ace find new opportunities while
leveraging its core competencies.
For additional information, a copy of Ace's Form 10-Q can be obtained on the
Internet by going to www.acemarketing.net, clicking on links and then clicking
on SEC Filings.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of
1995.
Certain statements in this press release 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 or achievements of
the company to be materially different from any future results, performances or
achievements express or implied by such forward-looking statements. The
forward-looking statements are subject to risks and uncertainties including,
without limitation, changes in levels of competition, possible loss of
customers, and the company's ability to attract and retain key personnel.
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CONTACT:
Ace - Valley Stream, NY.
Michael Trepeta, President - 516-256-7766