LOUISVILLE, Ky., Oct. 22, 2018 /PRNewswire/ -- Creative Realities, Inc. ("Creative Realities," "CRI," or the "Company") (OTCQB: CREX), a leading provider of digital marketing solutions, announced selected preliminary financial results for the period ended September 30, 2018.
The following is an estimate of our selected preliminary unaudited financial results for the three months ending September 30, 2018. These results do not incorporate any financial results or impacts of the pending Allure acquisition; they are meant solely as an estimate of the three months ended September 30, 2018 of the Company on a stand-alone basis. These results are subject to the completion of our normal quarter-end closing procedures and review by our independent public accounting firm in accordance with Statement of Auditing Standards No. 100, which provides guidance on performing reviews of interim financial information. As a result, our preliminary unaudited financial results set forth below may be subject to change. For additional information regarding the various risks and uncertainties inherent in estimates of this type, see the "Cautionary Note on Forward-Looking Statements" below.
We expect to report revenue ranging from $6.0 million to $6.1 million for the three months ended September 30, 2018, and gross profit to be in excess of 50% for the same period. Our 2018 full year revenue expectations range from $23.2 million to $27 million, representing annual growth between 31% and 53%.
Rick Mills, Chief Executive Officer, remarked, "We are pleased to release these very positive selected preliminary results in connection with our updated S-1 registration statement filing completed earlier today with the SEC. We are also pleased to announce that the Company's Board of Directors approved a one for thirty share reverse stock split in anticipation of an uplisting to a major U.S. exchange in the near future."
About Creative Realities, Inc.
Creative Realities helps retailers and brands use the latest technologies to inspire shopper engagement in and around the Store. Founded 17 years ago, the firm's evolving client base has led to recognized leadership in deploying technology aligned with strategic and consumer behavior goals at Retail. The firm has created and delivered consumer/shopper experiences, designs and installs high-end audio-visual networks, and is actively providing recurring SaaS and support services across diverse categories: Automotive, Apparel & Accessories, Banking, Baby/Children, Beauty, CPG, Department Stores, Digital Out-of-Home (DOOH), Electronics, Fashion, Fitness, Foodservice/QSR, Financial Services, Gaming, Luxury, Mass Merchants, Mobile Operators, and Pharmacy Retail.
Cautionary Note on Forward-Looking Statements
This press release contains certain statements that would be deemed "forward-looking statements" under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and includes, among other things, discussions of our business strategies, future operations and capital resources. Words such as "may," "likely," "anticipate," "expect" and "believe" indicate forward-looking statements.
These forward-looking statements may reflect management's present expectations and estimates regarding future expenses, revenue and profitability, trends affecting our financial condition and results of operations, operating efficiencies, revenue opportunities, potential new markets, the financial impact of potential or pending acquisitions, and the ability of the Company to effectively compete in a highly competitive market. Nevertheless, and despite the fact that management's expectations and estimates are based on assumptions management believes to be reasonable and data management believes to be reliable, the Company's actual results, performance, or achievements are subject to future risks and uncertainties, any of which could materially affect the Company's actual performance. Risks and uncertainties that could affect such performance include, but are not limited to: the adequacy of funds for future operations; future expenses, revenue and profitability; trends affecting financial condition and results of operations; ability to convert proposals into customer orders; the ability of customers to pay for products and services; the impact of changing customer requirements upon revenue recognition; customer cancellations; the availability and terms of additional capital; ability to develop new products; dependence on key suppliers, manufacturers and strategic partners; failure to close potential or pending acquisitions; industry trends and the competitive environment; the impact of the Company's financial condition upon customer and prospective customer relationships; and the impact of losing one or more senior executives or failing to attract additional key personnel. These and other risk factors are discussed in Company reports filed with the Securities and Exchange Commission.
Given these uncertainties, and the fact that forward-looking statements represent management's estimates and assumption as of the date of this press release, you should not attribute undue certainty to these forward-looking statements. We assume no obligation to update any forward-looking statements publicly, or to update the reasons why actual results could differ materially from those anticipated in any forward-looking statements contained in this press release, even if new information becomes available in the future.
SOURCE Creative Realities, Inc.