The Company's gross revenue* for FY2009 ending May 31, 2009 exceeded $50 million, versus $5.633 million in FY2008, an 888% increase.
In FY2009, SPNG had pre-tax profits of $10 million*, up 834% from $1.2 million for FY2008.
New orders booked for the first three months of FY2010 (June 1, 2009 through August 31, 2009) shattered last year's record pace coming in at approximately $70 million*.
In 2009 SpongeTech® expanded its licensing agreements with Nickelodeon and Viacom to market SpongeTech®’s SpongeBob Square Pants soap filled bath sponges. The Company's national marketing campaign was launched in early August.
The Company acquired Dicon Technologies in 2009 for $4.5 million in cash, to further vertically integrate its research, development and manufacturing processes. SPNG expects to fully exploit Dicon's massive distribution networks worldwide.
SpongeTech® recently signed agreements to partner with six NFL teams for the 2009-2010 season with several more signings expected prior to the season opener. The Company has also greatly expanded its MLB presence and is now featured in 28 major league ballparks.
SpongeTech® expanded its partnerships with the NHRA and NASCAR circuits, greatly increasing its visibility by signing a sponsorship deal with the Mike Ashley NHRA Race Team.
During FY2009 SpongeTech® expanded its presence to over 40,000 retail venues in the U.S. and Canada, up from 1,700 stores 12 months earlier.
SpongeTech® recently entered into an agreement with Wakefern Farms for merchandise placement in ShopRite, a retailer who serves over five million customers each week.
SpongeTech® has again signed with QVC to market Uncle Norman’s Pet Sponge during QVC’s Happy Hour. This ongoing program has the potential to reach up to 141 million consumers.