EXHIBIT 99.2
Genius Products, Inc. Announces Operating Results for the
Second Quarter of 2004, Scheduling of Shareholder Conference Call
and Revamped Web Site
SAN DIEGO--(BUSINESS WIRE)--Aug. 16, 2004--Genius Products, Inc.
(OTCBB:GNPI) today announced the results of its operations for the
quarter ending June 30, 2004. Net revenues for the quarter totaled
$2,057,557, an increase of 341% versus the results for the quarter
ending June 30, 2003, which were $466,834. The net loss for the
quarter ending June 30, 2004, was $1,246,687, or $.05 per share, as
compared to the net loss of $772,423, or $.05 per share, in the
year-earlier quarter. Net revenues for the six months ending June 30,
2004, were $5,188,947, an increase of 395%, compared to the six months
ending June 30, 2003, which were $1,017,381. The net loss for the six
months ending June 30, 2004, was $2,126,028, or $.09 per share, as
compared to the net loss of $1,252,009, or $.08 per share, in the
year-earlier period. Per share results reflect the higher basic and
diluted weighted average shares in the current year.
Klaus Moeller, Chairman and CEO of Genius Products, Inc.,
commented: "I am pleased with the continual sales growth this year,
based largely on our increased product lines. We continue to focus on
building our infrastructure to support the increase in sales, which
should lead the company to profitability, and to becoming a major
independent distributor of branded DVDs and music products."
Genius Products will host a shareholder conference call to detail
various business activities that have taken place during the quarter,
as well as planned activities for the remainder of 2004. The
conference call will take place at 10:30 a.m. Eastern Time on
Wednesday, August 18, 2004, and will include a presentation by Genius'
senior management, followed by a question-and-answer session.
To participate in the Conference Call
Dial-in number: 1-888-316-9415
Passcode: Genius Products
Conference Call Leader: Klaus Moeller
To ensure that shareholder questions can be fully answered, please
submit all questions prior to the call so they may be grouped into
general categories and addressed during the last portion of the call.
To submit a question, please email info@geniusproducts.com or fax them
to 858-793-8842, Regarding: Conference Call. In order to ask a
question during the call, dial *1. Questions will be addressed as time
permits.
This news release detailing earnings, the telephone number for the
conference call and replay information will be available on Genius
Products' newly redesigned Web site at www.geniusproducts.com. The new
site features extensive information on each of Genius Products'
brands, a secure shopping area and an investor relations area where
investors can view both current and past press releases, management
bios and SEC filings. Investor conference calls will be available on
the site as audio files for a two-week period starting at 5:00 p.m. ET
on the second business day following the day of the call.
About Genius Products, Inc.
Genius Products, Inc. (OTCBB:GNPI) is a multi-brand company that
designs and markets family entertainment products, including DVDs,
videos, CDs and cassettes. The products are sold under Baby Genius(R),
Kid Genius(R) and other licensed brands such as Guess How Much I Love
You(TM), Paddington Bear(TM), Raggedy Ann & Andy(TM) and the AMC(TM)
and TV GUIDE(TM) brand names. Our products are distributed at major
retail stores nationwide such as Target, Wal-Mart, Kmart, Sams Club,
Costco, Toys R Us, Babies R Us, Borders, Best Buy and Shopko. We also
license the Baby Genius brand to third-party companies for a variety
of products, including books, apparel and infant care products.
Promotional partners include The World Famous San Diego Zoo, Playtex,
Fazoli's and Child Magazine.
Safe Harbor Statement
Except for historical matters contained herein, the matters
discussed in this press release are forward-looking statements. The
forward-looking statements reflect assumptions and involve risks and
uncertainties, which may affect our business, forecasts, projections
and prospects, and cause results to differ from these forward-looking
statements. Actual results could vary for many reasons, including, but
not limited to, the timely development and acceptance of new products
and general market conditions. Other such risks and uncertainties
include our ability to grow our business, to obtain additional
licenses, to meet anticipated release schedules and other matters,
which are described in our filings with the Securities and Exchange
Commission.
Contact Information: Genius Products, Inc., San Diego, California;
Investor Relations: 858-793-8840; info@geniusproducts.com
GENIUS PRODUCTS, INC.
Operating Results
For the Quarter Ended
--------------------------------------
6/30/04 6/30/03
------------------- ------------------
Net Revenues $2,057,557 $466,834
Cost of Sales 1,546,374 349,818
Operating Expenses 1,655,594 893,070
Other (102,276) 3,631
------------------- ------------------
Net Loss $(1,246,687) $(772,423)
=================== ==================
Net loss per share $(0.05) $(0.05)
=================== ==================
Basic and diluted weighted
average shares 24,442,271 16,474,524
=================== ==================
GENIUS PRODUCTS, INC.
Operating Results
For the Six Months Ended
--------------------------------------
6/30/04 6/30/03
------------------- ------------------
Net Revenues $5,188,947 $1,017,381
Cost of Sales 3,586,999 615,737
Operating Expenses 3,397,109 1,649,643
Other (330,867) (4,010)
------------------- ------------------
Net Loss $(2,126,028) $(1,252,009)
=================== ==================
Net loss per share $(0.09) $(0.08)
=================== ==================
Basic and diluted weighted
average shares 22,579,860 16,182,542
=================== ==================
CONTACT: Genius Products Inc., San Diego
Klaus Moeller, 858-793-8840