BYRON PREISS MULTIMEDIA COMPANY, INC. REPORTS FIRST QUARTER RESULTS
During the first quarter ended March 31, 1996 the Company did not release any new CD-ROM titles. However, under the Company's agreement with Marvel Entertainment Group (NYSE: MRV), it published three books including "Daredevil: Predator's Smile," "Stan Lee's Riftworld: Odyssey" and "X-Men: Mutant Empire Book 1 Siege." The Company is planning to release approximately sixteen new CD-ROM titles during the year and expects to record the majority of its CD-ROM sales during the third and fourth quarters of 1996. The CD-ROM titles under development at this time for release in 1996 include "Scientific American Library's The Universe;" "Scientific American Library's Illusion;" "Total Television;" "American Heritage: Lincoln;" "American Heritage: History of the United States for Young People;" "The Twelve Circus Rings;" "My Cool Diner;" "Inside/Outside World Tour Game;" "Spider-Man: The Sinister Six;" "Private Eye Game;" "Westworld 2000" and a Forbes business simulation game. Recently released was the CD-ROM title: "Tim McCarver's The Way Baseball Works," co-published with Simon & Schuster Interactive.
As previously announced during the first quarter the Company has been selected as one of the first developers to work with Intel to implement a title using Intel's new MMX technology and will be compatible with Digital Video Disc (DVD) drives. The first title under this program will be "Timetables of Technology," which will be co-published by Simon & Schuster Interactive (SSI) and will be offered this year to OEM's by Intel for resale with their first computer systems to support Intel's MMX technology.
In April 1996 the Company announced its intention to expand its on-line services to launch "Camp Virtual," the first kids camp on the Internet. Camp Virtual will be an easy-to-access World Wide Web-based service that lets users play games and enter contests to win real prizes, interact with other campers in chat rooms and read stories. As part of the Company's plans for foreign distribution during the first quarter the Company entered into an agreement with Macmillan Publishing Company, one of England's largest publishers, for distribution of certain titles from the Company's critically acclaimed Digital Bauhaus imprint, including "The Ultimate Einstein" and "Scientific American Library's The Planet."
At this time the Company is planning to release approximately seven more books during the year including "Spider-Man & The Hulk: Rampage;" "Spider-Man: Goblin's Revenge;" "Spider-Man: The Octopus Agenda;" "The Ultimate Super-Villains" and "The Ultimate X-men."
Founded in 1992, Byron Preiss Multimedia Company, Inc. develops and publishes high-quality multimedia software and on-line services and books for the consumer, education, and small business markets. The Company's titles are published under six distinct imprints. Digital Bauhaus for innovative non-fiction; Brooklyn Multimedia for interactive games; Crayon Multimedia for children; 21st Century Classics for multimedia literature; Arts and Commerce for desktop tools and toys; and Virtual Comics for the electronic delivery of interactive comics.
BYRON PREISS MULTIMEDIA COMPANY, INC. Summary of Operations For the Three Months Ended March 31, 1996 1995 Net revenues $ 644,691 $ 264,032 Gross profit 316,163 56,881 Loss from operations 559,155 563,559 Net loss 506,114 521,759
Net loss per weighted
average shares outstanding $.12 $.15
shares outstanding 4,261,875 3,494,738 -0- 5/15/96
/CONTACT: James R. Dellomo, CFO of Byron Preiss Multimedia Company, 212-989-6252, ext. 132; or Melissa Krantz of The Krantz Group, Inc., 212-891-7235/
CO: Byron Preiss Multimedia Company, Inc.; Marvel Entertainment Group ST: New York IN: CPR PUB SU: ERN
ES-MP -- NYW040 -- 0181 05/15/96 09:25 EDT
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|Date:||May 15, 1996|
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