Solid 3Q for New Frontier2/10/2005 5:40 AM Eastern
New Frontier Media Inc. said Thursday that operating income for its fiscal third quarter ended Dec. 31 rose 47% to $4.4 million from $3 million in the year-ago period.
Earnings per fully diluted share were $0.13 after a quarterly tax rate of 35.8%, versus $0.12 in the prior-year quarter with no tax expense, as taxes were offset fully by net operating losses.
Revenue rose 11% to $12 million from $10.8 million in the year-earlier quarter.
“Our distribution on the video-on-demand platform is growing even in the face of increasing competition,” New Frontier CEO Michael Weiner said in a prepared statement.
“Additionally, I am particularly pleased that the company is able to leverage its significant content and technology resources to seek new revenue from emerging platforms, such as wireless,” he added.