Earnings: Atrinsic Revs Increase By 126 Percent In 2007 Based On Subscriber Growth
Atrinsic, the company formerly known as New Motion (OTCBB: NWMO) which publishes digital music, casual games, sweepstakes, etc., reported higher Q4 and year-end results today based on strong subscriber growth. Fourth-quarter revenues totaled $13.9 million, jumping 126 percent from $6.2 million in the year ago period. For the year, revenues totaled $37 million, nearly doubling from $18.7 million compared to 2006. At the end of the year, the company had more than 825,000 paying subscribers, increasing from 750,000 in the prior quarter. Release.
SEE ALSO: New Motion + Traffix Change Name To Atrinsic
The growth didn’t stem the losses. In Q4, the net loss was about $900,000, widening from a net loss of $0.4 million in the same period a year ago. For the full year, the company recorded a profit of $677,000, turning around from a loss of $4.1 million in 2006. The results didn’t reflect the merger with Traffix, which was completed Feb. 4.
The company said first-quarter revenues are expected to as much as $37 million on a pro forma basis, and for the year, it is reiterating their expectation of hitting up to $160 million in sales and adjusted EBITDA in the range to $15 to $20 million.
Posted In: Entertainment, Games, Music, Money, Earnings, atrinsic
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