Totally Hip Releases Third Quarter 2003 Results

Posted on 09-08-03

www.totallyhip.com
Symbol: THC-TSX Venture Exchange

phone: 604 685 6525 e-mail: investor@totallyhip.com

Vancouver, B.C. – September 8, 2003 –Totally Hip Inc. announces results for the third quarter of fiscal 2003, with the net income recorded for the nine months ending June 30, 2003 of $2,930 ($0.00 per share) compared to a net loss of $121,300 ($0.06 per share) for the same nine-month period of the previous fiscal year.

Net sales for the quarter were $429,961 (85% of gross sales) compared to $574,999 (84% of gross sales) in the previous year, a decrease of 25% and gross sales were $508,148 compared to $682,399 in the previous year, a decrease of 26%.

Gross sales for the nine months period showed a decrease of 26% to $508,148 compared to $682,399 in the same period of fiscal 2002. The third quarter 2003 sales breakdown is 93% for packaged products and 7% for services. The breakdown for product sales is 87% LiveStage Professional, 8% LiveSlideShow, 3% HipFlics and 2% Other.

The geographical distribution of sales for the third quarter (nine-month period) of fiscal 2003 are USA 59%, Canada 13%, Europe 11%, United Kingdom 6%, Scandinavia 4%, Asia 3%, Australia 3% and Mexico 1%.

Cost of goods for the nine-month period ending June 30, 2003 was $78,187 compared to $107,400 the for previous year.

Administrative expenses for the nine months ending June 30, 2003 were $546,139, compared to $711,293 in the previous year. The breakdown of expenses for the quarter are development salaries 32%, professional fees for mainly legal & accounting 19%, administrative, support and sales salaries and consulting fees 17%, marketing 10%, rent 8%, office expenses 7%, internet and telephone service 3%, amortization 2%, transfer agent and filing fees 2% and gain on bad debts -1%.

For a full PDF version of the report send an email request to investor@totallyhip.com

Totally Hip’s mission is to develop software, enterprise solutions, and services to effectively produce and deliver convergent media solutions, and to ensure our software products are compatible with and complement established media file formats, platforms, and standards. Totally Hip was founded in 1995 and is an award winning developer of convergent media technologies.

For further information on investor or corporate matters contact 604 685 6525 or email investor@totallyhip.com.

Totally Hip Inc.
Per: "David Dicaire"
David B.Dicaire, CEO & President

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