|
Nine Months
Ended September 30, |
Three Months
Ended September 30, |
|||
|
2003
|
2002
|
2003
|
2002
|
|
| NET REVENUES |
$45,515,343
|
$41,450,495
|
$13,975,413
|
$12,629,337
|
| COST OF REVENUES |
32,984,812
|
28,504,839
|
9,388,669
|
9,207,606
|
| Gross margin |
12,530,531
|
12,945,656
|
4,586,744
|
3,421,731
|
| OPERATING EXPENSES: | ||||
| General and administrative |
5,487,291
|
4,582,735
|
1,928,481
|
1,746,473
|
| Selling and marketing |
729,814
|
1,686,298
|
261,582
|
(101,413)
|
| Salaries and benefits |
10,130,330
|
11,145,505
|
3,480,454
|
4,092,418
|
| Amortization of CBS advertising |
609,193
|
10,936,495
|
102,464
|
1,333,752
|
| Impairment loss- CBS advertising |
–
|
57,274,680
|
–
|
57,274,680
|
| Write-off of prepaid trade credits |
–
|
655,500
|
–
|
655,500
|
| Exit and other retail closure costs |
–
|
411,399
|
–
|
150,000
|
| Depreciation and amortization |
1,839,801
|
2,425,496
|
585,408
|
577,760
|
| Total operating expenses |
18,796,429
|
89,118,108
|
6,358,389
|
65,729,170
|
| Operating loss |
(6,265,898)
|
(76,172,452)
|
(1,771,645)
|
(62,307,439)
|
| EQUITY IN EARNINGS – INVESTMENTS |
797,730
|
367,597
|
(8,396)
|
136,639
|
| OTHER INCOME (EXPENSE): | ||||
| Interest expense |
(1,049,561)
|
(869,113)
|
(373,874)
|
(413,785)
|
| Interest income |
12,558
|
16,756
|
911
|
6,525
|
| Other, net |
(108,165)
|
7,034
|
(117,059)
|
4,634
|
| Loss before minority interest |
(6,613,336)
|
(76,650,178)
|
(2,270,063)
|
(62,573,426)
|
| MINORITY INTEREST |
(449,689)
|
(595,668)
|
(50,101)
|
(202,257)
|
| NET LOSS |
$ (7,063,025)
|
$(77,245,846)
|
$(2,320,164)
|
$(62,775,683)
|
|
|
||||
| Basic and diluted net loss per common share |
$(0.34)
|
$(2.81)
|
$ (0.11)
|
$ (2.40)
|
| Weighted average shares outstanding |
20,689,747
|
27,521,885
|
21,045,043
|
26,193,222
|
HOLLYWOOD
MEDIA REPORTS THIRD QUARTER 2003 FINANCIAL RESULTS
- Advertisement -
