Next Generation Media Corp., Springfield, VA, reported a revenue drop from $7.3 million to $7 million between 2002 and 2003. The firm, which offers direct mail, coupon book and other promotional services to small- and medium-sized businesses, saw its net income decline from $203,532 to 162,106 during the same period.
The company attributed much of the revenue drop to the retirement of a key franchisee in the New York City area. “It is important to note that we are on track to meet 2004 strategic goals, including adding at least 20 new franchisees and growing gross revenue by a minimum of 15 percent,” Darryl Reed, president and CEO said in a statement.
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