ATLANTA--(BUSINESS WIRE)--Mastermind, Inc. (OTCQB: MMND), a leading vertically-integrated digital marketing company that designs, creates and activates marketing initiatives for global brands, today announced financial results for FYE 2020, ended September 30, 2020.
Dan Dodson, CEO of Mastermind, commented, “Results for FYE 2020 posted solid net income for the year despite the pandemic. Our team developed and executed some impressive pandemic social marketing initiatives for our clients that helped them through some difficult times. In 2020 vs 2019, Gross Margin (revenue less direct expenses) was 4% higher, combined expenses (direct, personnel, and operating) were 22% lower, and Net Income increased by $895,119. Some of the acquisition discussions we were having during the pandemic were put on hold, but many have restarted in the last 30 days. We hope to have some LOIs in place over the coming months.”
Fiscal Year 2020 Highlights
- Gross Margin for 2020 was $3,369,844, an increase of 4% over 2019
- Net Income for 2020 was $141,174, an increase of $895,119 over 2019
- Personnel Expenses for 2020 were $2,452,180, a decrease of 25% from 2019
- Operating Expenses for 2020 were $3,321,445, a decrease of 16% from 2019
Detailed financial information can be found in Mastermind’s Annual Report on Form 10-K for the period ended September 30, 2020 and filed with the Securities Exchange Commission on February 19, 2021.
About Mastermind, Inc.
Mastermind, Inc. provides thinking that drives results for leading marketers. It has over 30 years of experience in dozens of industries helping involve people with leading brands in ways that inspire them to take action. Mastermind has a total, data-driven approach that drives brand consideration, trial, loyalty, and advocacy. The company has extensive marketing expertise in Content, Digital, Influencer, Social, Promotion, Channel Optimization, and Digital Issues Management. This allows Mastermind to create and execute multi-dimensional campaigns that drive results. For more information about Mastermind, Inc., please visit: www.MastermindMarketing.com.
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