HOUSTON, Aug. 13, 2015 (GLOBE NEWSWIRE) -- NightCulture, Inc. (OTCQB:NGHT) (the "Company") announced operating results for the quarter ending June 30, 2015, including a 38.64% increase in revenue to a record $2,295,735 in Q2 2015 compared to $1,655,817 during the same period in 2014.
The Company reported an operating profit of $80,993 in Q2 2015 compared to an operating profit of $174,484 in the Q2 2014 reporting period.
The Company reported a net loss of ($327,724) or $0.00 per share, compared to a net income of $785,769 or $0.01 per share in Q2 2014.
NightCulture produced 68 shows in Q2 2015 up from 63 in Q2 2014, a 7.9% increase.
Q2 Highlights
- Launch of new “Something Wonderful” Festival brand in Dallas, TX
- Show with the #1 DJ in the World, Hardwell, at Stereo Live
- Life in Color “World’s Largest Paint Party” in Houston & Austin, TX
- 12 sold out shows at Stereo Live
- Kicked off Summer Pool series at Sisu in Dallas, TX
About NightCulture Inc.
NightCulture Inc. "Concerts that Change Your Life," is a premier producer of live concerts and festivals. NightCulture operates in the following markets: Houston, TX, Austin, TX, Dallas, TX, San Antonio, TX. NightCulture was the first Electronic Music company to trade in the public markets. http://www.NightCulture.com
NightCulture Inc. produces two major music festivals. "Something Wicked" Halloween Festival, which drew over 40,000 fans 2014 in Houston, TX. http://www.SomethingWicked.com & "Something Wonderful" Festival in Dallas, TX debuting in 2015. http://www.SomethingWonderful.com
Stereo Live, LLC, a wholly-owned subsidiary of NightCulture, operates Stereo Live, a 25,000 square foot music and live events venue located on 2 1/2 acres of land at 6400 Richmond Avenue in Houston, Texas. http://www.StereoLiveHouston.com
Safe Harbor Statement
Statements in this release that relate to future plans or projected results of NightCulture Inc. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended by the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), and Section 21E of the Securities Exchange Act of 1934, as amended by the PSLRA, and all such statements fall under the "safe harbor" provisions of the PSLRA. Our actual results may vary materially from those described in any "forward-looking statement" due to, among other possible reasons, the realization of any one or more of the risk factors described in our annual or quarterly reports, or in any of our other filings with the Securities and Exchange Commission. Readers of this release are encouraged to study all of our filings with the Securities and Exchange Commission. Readers of this release are cautioned not to put undue reliance on forward-looking statements.