Quarter 1 Results

Hi, it’s been a little while since I blogged so time to set that right. As I work for a US IT company I thought it might be fun to bring you up to speed by doing a quarterly release of news and stuff. So, here goes…

Quarter 1 Results

Earnings  or Operating Income (“OpInc”) in the first quarter of 2015 improved following increased demand seen in the print sector of the business. This can be attributed to being named Outdoor Photographer of the Year 2014 (“OPOTY”) on 15th February. This increased demand saw OpInc jump 100% year on year (i.e. this time last year I hadn’t sold anything!). We have to be careful as we move forward into the rest of FY2015 as demand is expected to wane from the current two prints to zero as the fallout from OPOTY begins to settle, so for the time being, investment in a new tarmac driveway is under review. We are in this together, now is the time for austerity…err.

Operating Expenditure (“OpEx”) has been very high which has affected profits severely despite the increase in OpInc. Firstly there was a week long break in the Lake District at the turn of the year, followed by several weekends photographing snowy landscapes and inversions in the Lake District (again) and Snowdonia. There was a large expense on an overnight trip to London for the OPOTY awards which was curbed by staying in a hostal with the wife on St Valentine’s day (romantic and all on expense). The total expense of this trip was offset by the earnings gained from OPOTY, some £200 in prize money. OpEx continued to outstrip earnings towards the end of the quarter following a Skiing holiday to Andorra (OpEx mildly reduced by Andorra being a duty free destination…hic).

Research & Development took a step forward towards the end of the quarter with the appointment of “Fujifilm X-Photographer” status. This may give the business limited access to crucial Intellectual Property in the future. We will be keeping a close eye on this to see how it develops. At the Photography Show at the NEC the OPOTY winning image was on display on the Fujifilm stand.

Photoshow 2015

My awesome self next to my slightly less awesome photo

Photo courtesy of Paul D Kirby

Looking ahead into the second quarter the immediate concern will be the divested entities emanating from the rears of the huskies that will be pulling yours truly across the arctic tundra. These freeze and I’m hoping to use them as fuel for fire to keep warm as we saw in India last year with cowpats. Chances of survival are rated to be low.

The outlook beyond (should I survive the arctic) is fair. Some ‘exposure’ in magazine publications is on the horizon and two other exciting developments are in the planning stages. More on them in the next quarterly statement. We have also just learned about a shortlisting in Wildlife Photographer of the Year (WPOTY) with the following two images in the ‘On Land’ and ‘Under Water’ categories. Perversely neither feature wildlife, but that doesn’t seem to matter. Shame, I Iiked the Giraffe, Oryx and Elephant ones they rejected. Results are announced in May.

Greg_Whitton_Photography_Travel_Iceland_Web-67

Greg_Whitton_Photography_Web-1-148

Additionally there will be an image on display (“Alone”) in the Connected 2015 Vision exhibition from 18th April to 17th May (launch event on 25th April) at the Patchings Art Centre near Nottingham. Details below.

Connected

Despite this success, there will be no pay-rises or bonuses this year, I need to keep all revenues back to fund my lavish lifestyle filled with kebabs, cakes, beer, holidays and gadgets. Keep up the good work everyone!!! 😉

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