Growth in Sales and Release Activities Leads to New Staff and Operations at Hannover House
July 27 2012 - 3:13PM
Fueled by a dramatic increase in both the frequency and quantity of
new title releases, Hannover House (HHSE) has taken steps to
improve profit margins and title security by moving certain
mastering and marketing duties in-house. Efective
immediately, most of the company's DVD and Blu-Ray authoring duties
will be handled internally by Director of Technical Services Tim
Ellis, with website design and marketing handled by newly hired
Garret Krier, in the position as Director of Marketing. Activities
relating to ongoing reporting obligations for financials and
outside audit activities will be handled by Lisa Purkayasha, who
has been moved over from a temporary staff position to newly
creation position of Operations Manager.
In-House authoring of DVD and Blu-Ray masters is expected to
save the company more than $4,000 per title, and with 28 new
release titles in solicitation or on the schedule through May,
2013, the short-term savings could exceed $100,000. Moving
web-design and maintenance in-house is expected to save the company
over $50,000 per year, while simultaneously improving the response
time for website updates and improvements. And finally, the
creation of an Operations Manager position is expected to improve
the company's timeliness in meeting future reporting and financial
audit obligations as the company moves towards a higher-profile
market listing.
Tim Ellis has been employed at Hannover House since January,
having previously worked as an outside service provider as well as
the Producer-Director of the bonus materials utilized in support of
the video release for "Turtle: The Incredible Journey." Lisa
Purkayasha has been working on a full-time, contract basis at
Hannover House for the past four months, working as Audit-Manager
and liaison with outside accountants reviewing the tax returns and
financials for the years 2010 and 2011. Garret Krier joins
Hannover House from KNWA-NBC Television, where he has worked as a
writer-producer-reporter, responsible for shooting and editing many
of his stories, as well as website activities.
"We are very pleased to be able to add these quality individuals
to our management and support teams," said Fred Shefte, President
of Hannover House. As the company's sales continue to grow,
it is important that we look at means to improve our financial and
operational efficiencies, as well as creating an environment that
will better facilitate senior management focus on the big-picture
opportunities. Having competent and proven managers in these
important positions will enable Eric Parkinson and I to maximize
our own skills in closing opportunities for the company, both in
terms of product acquisitions as well as corporate finance."
With respect to corporate finance matters, Hannover House C.E.O.
Eric Parkinson will be in New York City next week to review several
opportunities that have been presented to the company. He will also
be meeting with the publicity and promotions companies that have
been contracted to assist with the marketing of the September 7th
theatrical release of "Toys in the Attic." The company has
also entered into an agreement with a high-profile, New York-based
director to helm the "Mother Goose" feature, and is looking forward
to a strategy meeting to determine the schedule and production plan
for this major production.
Hannover House is an independent entertainment company,
specializing in the distribution of feature films to the USA home
video market. The company is also active in theatrical
releases, video-on-demand, book publishing and television
licensing. The company's principal headquarters are in N.W.
Arkansas, in relative proximity to the world headquarters for
Wal-Mart Stores, Inc., and the company maintains a presence in both
New York and Los Angeles for publicity, marketing, product
acquisition and sales activities. The company's release slate
for 2012 is four-times greater than in 2011, which saw only six new
release items. Despite the limited schedule in 2011, the
company still posted record revenues and profits. Due in part
to the enhanced release schedule and higher profile itles, the
company is looking for significant year-over-year gains in
2012.
For more information, go to www.HannoverHouse.com.
SAFE HARBOR STATEMENT
This press release may contain certain forward-looking
statements within the meaning of Sections 27A & 21E of the
amended Securities and Exchange Acts of 1933-34, which are intended
to be covered by the safe harbors created thereby. Although the
company believes that the assumptions underlying the
forward-looking statements contained herein are reasonable, there
can be no assurance that these statements included in this press
release will prove accurate.
CONTACT: Eric Parkinson, 818-481-5277 / HannoverHouse@aol.com
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