Nostalgia Losses Rise in Qtr.

Author:
Publish date:
Updated on

Washington -- Nostalgia Network Inc., parent of
GoodLife Television Network, said its quarterly revenue fell by 29 percent and its net
loss rose about 63 percent, as advertising revenue fell and programming costs rose
sharply.

Nostalgia's revenue totaled $1.2 million in the quarter
ended Sept. 30, down from $1.6 million in the same period ago, as advertiser revenue
dropped by 42 percent due to subscriber losses.

To combat the losses, Nostalgia has invested heavily in
original programming. Programming, production and transmission costs rose by 60 percent in
the quarter, to $1.5 million from $954,000 a year ago.

As a result, Nostalgia's operating loss in the quarter rose
61 percent, to $4.8 million from $3 million a year ago, and its net loss rose to $6
million, or 30 cents per share of stock, from $3.7 million (18 cents) a year ago.

Related