Source Media reports first quarter results.DALLAS--(BUSINESS WIRE)--May 1, 1996--Source Media, Inc. (Nasdaq: SRCM SRCM Shri Ram Chandra Mission (India) SRCM Stochastic Radio Channel Model SRCM Società Romana Costruzioni Meccaniche (Italian, training hand grenades) ) today reported results for the first quarter ended March 31, 1996. Monetary revenues for the first quarter of 1996 were $2,282,000, compared with $2,316,000 reported for the first quarter of 1995. Nonmonetary revenues, which relate to barter barter: see exchange. barter Direct exchange of goods or services without the use of money or any other intervening medium of exchange. Barter is conducted either according to established rates of exchange or by bargaining. contracts, were $2,879,000, compared with $4,769,000 for the first quarter of 1995. The Company reported a net loss attributable to common stockholders of $2,221,000, or $0.22 per common share, compared with a net loss attributable to common stockholders of $2,629,000, or $0.58 per common share in the first quarter of 1995. During the first quarter of 1996, the Company laid the groundwork for the launch of the Interactive Channel in Colorado Springs, Colorado The City of Colorado Springs is the second most populous city (after Denver) in the state of Colorado and the 48th most populous city in the United States.[4] The city is the county seat of El Paso County. beginning in the fall of 1996 through an agreement announced in April with Colorado Springs Colorado Springs, city (1990 pop. 281,140), seat of El Paso co., central Colo., on Monument and Fountain creeks, at the foot of Pikes Peak; inc. 1886. It is a year-round resort and a booming military, technological, and commercial city. Cablevision, a Century Communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. , and the Gazette Telegraph, published by Freedom Communications Freedom Communications, Inc., headquartered in Irvine, California, owns more than 75 publications newspapers in the US, with a combined daily circulation of more than 1.2 million subscribers, and also operates over seventy local news websites. , Inc. During the same period, the Company maintained profitable operations in the On-Line Telephone Business and began operating an on-line computer service, delivering information services See Information Systems. targeted at legal professionals. Tim Peters Tim Peters may refer to:
Source Media is a leader in the interactive programming and services industry. Source Media's Interactive Channel, an on-line television browser and programming service, is capable of delivering interactive news, weather, sports, shopping and educational services on demand over today's cable systems. Source Media presently has agreements to distribute the Interactive Channel with Cablevision Systems Corporation, Century Communications Corporation and Marcus Cable Company, L.P. -0-
FINANCIAL HIGHLIGHTS
(Thousands except per share amounts)
(Unaudited)
Three Months Ended Three Months Ended
March 31, 1996 March 31, 1995
Monetary revenues $2,282 $2,316 Nonmonetary revenues 2,879 4,769 Total revenues 5,161 7,084 Operating loss (2,538) (1,950) Net loss (2,221) (2,242) Net loss attributable to common shareholders (2,221) (2,629) Net loss per common share ($0.22) ($0.58) Weighted average common shares outstanding 9,936 4,507 -0- CONTACT: Morgen-Walke Associates Naomi Rosenfeld/Andrea Mabel Media contact: Lee Foley fo·ley n. 1. A technical process by which sounds are created or altered for use in a film, video, or other electronically produced work. 2. A person who creates or alters sounds using this process. (212) 850-5600 |
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