Addvantage Media Group, Inc. Reports Results for the Second Quarter and First Half of 1999.TULSA Tulsa (tŭl`sə), city (1990 pop. 367,302), seat of Tulsa co., NE Okla., on the Arkansas River east of its junction with the Cimarron; inc. 1898. , Okla.--(BUSINESS WIRE)--Aug. 13, 1999-- ADDVANTAGE MEDIA GROUP, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ADDM ADDM Automatic Database Diagnostic Monitor (Oracle Database 10g) ADDM Asynchronous Digital Data Modem ADDM Assistant District Director for Management ADDM Asynchronous Distributed Decision Making ) today reported revenues and net earnings for its second quarter and year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. ended June 30, 1999. Revenues for the second quarter were $3,042, compared to revenues of $1,997,148 for the same quarter last year. Net loss applicable to Common Stock for the quarter was $1,213,672, or $0.82 per share, as compared to a net loss of $771,439, or $0.52 per share for the prior year's quarter. For the six months ended June 30, 1999, revenues totaled $9,802 compared to revenues of $4,945,764 for the first half of 1998. For the year-to-date, net loss income applicable to Common Stock was $1,660,668, or $1.12 per share, as compared to net income of $39,170 or $0.03 per share for the same period last year. During the second quarter of 1999, the Shoppers Calculator calculator or calculating machine, device for performing numerical computations; it may be mechanical, electromechanical, or electronic. The electronic computer is also a calculator but performs other functions as well. (R) assets were written down by $722,761. The write-down Write-Down Reducing the book value of an asset because it is overvalued compared to the market value. Notes: This is usually reflected in the company's income statement as an expense, thereby reducing net income. is the direct result of management's continuing evaluation of the potential realization of future revenues from advertising sales, unit sales unit sales Sales measured in terms of physical units rather than dollars. Unit sales data are often used by financial analysts when evaluating the health of a company. or the sale of the Shoppers Calculator(R) assets. Charles H. Hood, President of ADDvantage Media Group, Inc. stated, "the Company's management is continuing its efforts to find a suitable merger partner." ADDvantage has historically been engaged in the business of producing Shoppers Calculators(R) and marketing them as in-store advertising vehicles. The termination in 1998 of its agreement with Wal-Mart which accounted for over 90% of its business, has caused ADDvantage management to seek other business opportunities. Certain statements included in this release which are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . These forward-looking statements are based on current expectations, estimates, assumptions and beliefs of management; and words such as "expects," "anticipates," "intends," "plans," "believes," "projects", "estimates" and similar expressions are intended to identify such forward looking statements. These forward looking statements involve risks and uncertainties, including but not limited to, the Company's ability to conclude a transaction with a suitable merger partner and other factors beyond the control of the Company. Accordingly, actual results may differ materially from those express in the forward looking statement.
ADDVANTAGE MEDIA GROUP, INC.
STATEMENTS OF OPERATIONS
(UNAUDITED)
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
1999 1998 1999 1998
Revenues $ 3,042 $ 1,997,148 $ 9,802 $ 4,945,764
Net Income
(Loss)
Applicable
to Common
Stock $ (1, 213,672) $ (771,439) $(1,660,668) $ 39,170
Earnings
(Loss) Per
Share $ (0.82) $ (0.52) $ (1.12) $ 0.03
Weighted
Average
Shares
Outstanding 1,476,646 1,476,646 1,476,646 1,476,646
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