STUDIO CITY, Calif., April 9, 2007 (PRIME NEWSWIRE) -- Tix Corporation (OTCBB:TIXC) (the "Company") is pleased to announce that its Las Vegas half-price, same day ticket business, Tix4Tonight, achieved its best year ever. The Company experienced substantial and consistent improvement during the year ended December 31, 2006.
The Company's operations reported a 100% increase in revenues and a fourfold increase in operating cash flows as compared to the year ended December 31, 2005.
The Company sold 573,597 tickets in 2006, as compared to 319,238 tickets in 2005, an increase of 254,359 tickets or 79.7%.
Commissions and fees were earned on the gross sales value of show tickets sold to customers of $23,182,794 for the year ended December 31, 2006, as compared to $10,295,287 for the year ended December 31, 2005, an increase of $12,887,507 or 125.2%.
Revenues from ticket commissions and fees were $5,387,728 for the year ended December 31, 2006, as compared to $2,695,191 for the year ended December 31, 2005, an increase of $2,692,537 or 99.9%, as a result of an increase in the number of tickets sold and an increase in the average ticket price. The average ticket price increased to $36.38 in 2006, as compared to $28.25 in 2005.
Mitch Francis, CEO and Chairman, commented "We are gratified to be able to report such significant increases in our business results for the past year. We look forward to continuing this growth which we hope to accomplish through enhancement of our current product lines and expansion into new related directions such as our entry into selling premium tickets on a national level via our recent acquisition, AnyEvent.com."
Tix Corporation's wholly-owned subsidiary, Tix4Tonight, sells tickets for Las Vegas shows, concerts, attractions and sporting events at half-price, on the same day of the performance. Additionally, the Company's newTix4Stand-byGolf division offers discount golf tee times for over 35 courses in Las Vegas for both same-day and advanced bookings and its Tix4Dinners subsidiary offers up to 50% off entrees at local Las Vegas restaurants and buffets. The company's recent acquisition, AnyEvent.com, sells tickets to concerts, theater and sporting events throughout the country.
Tix4Tonight has four prime ticket booth facilities, strategically placed at highly foot-trafficked locations in Las Vegas, Nevada. They include the Hawaiian Marketplace at the South end of the Strip, the Fashion Show Mall in front of Neiman Marcus, directly across the street from the new Wynn Resort at the middle of the Strip, North Strip, just South of the Riviera Hotel, and a downtown Las Vegas facility in the Four Queens Hotel, fronting onto the Fremont Street Experience.
For more information and answers to typical questions about how the Tix4Tonight service works, call 877-849-4868 or visit www.tix4tonight.com.
Cautionary Statement pursuant to Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995:
All statements in this news release that are not statements of historical fact are deemed to be forward-looking statements. These forward-looking statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. Many of these risks and uncertainties are identified in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements. This document is only for the general information of shareholders, potential investors and other interested parties, and is not to be construed as an offer to sell or the solicitation of an offer to buy any securities. The opinions expressed herein are the current opinions of management as of the date appearing on this document.