New Frontier Slips in 1Q

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New Frontier Media Inc. posted earnings per fully diluted share of $0.11 for its fiscal first quarter ended June 30, down slightly from $0.12 in the previous-year period.

The programmer’s second-quarter revenue was $11 million compared with $11.5 million in the year-ago quarter. Net income fell to $2.5 million from $2.7 million, down 7%.

New Frontier said its pay TV group reported revenue of $10.4 million versus $10.8 million in the year-earlier period. Revenue from pay-per-view services rose 5% to $6.1 million from $5.8 million for the quarter ended June 30, 2004.

“Our business continues to perform profitably and in a manner consistent with our expectations," New Frontier CEO Michael Weiner said in a prepared statement. "Management's energies remain keenly focused on the profitable exploitation of new technologies and new distribution channels, as is evidenced by the recent launches of our content on wireless platforms.”

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