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TMNG Global (TMNG) Posts 42% Increase in Q1 Revenues

TMNG Global (Nasdaq: TMNG) today announced its results for the first quarter ended March 29, 2008. The company provides management consulting and software solution services to the global communications, media and entertainment industries.

The company posted revenues for the first quarter of 2008 at $21.5 million, up 42.5 percent from $15.1 the same quarter last year. The increase is attributed to the company’s acquisitions of TWG Consulting and RVA consulting, as well as growth in software solutions and management consulting.

“Solid revenue growth and improved profitability in the quarter demonstrate that our strategy of achieving increased scale through organic growth and acquisition is working. The volume of engagements has continued to expand as our enhanced capabilities allow us to further penetrate larger client organizations with multiple projects. This added value is evidence of the successful integration of our acquisitions, with our consultants working closely together in generating business and sharing knowledge and resources,”’ Richard Nespola, TMNG Global chairman and CEO stated in the press release.

He continued, “While the cloudy economic environment adds a degree of caution to our outlook, our business pipeline remains healthy, giving us confidence that we remain in good position to generate continued year-over-year revenue and profitability improvement.”

TMNG Global posted net income of $0.3 million, or $0.01 per diluted share for the first quarter of 2008, as compared to a net loss of ($1.7) million, or ($0.05) per diluted share for the year prior.

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