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ICT REPORTS FISCAL 1993 RESULTS

 LOS ANGELES, Dec. 11 /PRNewswire/ -- International Cablecasting Technologies Inc. ("ICT") (NASDAQ-NMS: TUNE) reported results of operations for the fiscal year ended 1993, including the unconsolidated operations of its foreign subsidiary, ICT-Europe. ICT's results showed a substantial increase in revenue from the continued marketing of its premium digital audio service, DMX. For the fiscal year ended Sept. 30, 1993, ICT reported a net loss of $16,407,975, or $(0.52) per share, which consists of an operating loss of $10,643,693 before certain non-cash charges, plus non-cash charges of $3,080,112, from certain stock related transactions, plus a loss of $3,553,932 from the unconsolidated operations of its foreign subsidiary, ICT-Europe, plus other income of $869,762 from other income items. This compares to the results for the fiscal year ended Sept. 30, 1992, when ICT reported a net loss of $26,440,404, or $(0.90) per share, which consisted of an operating loss of $12,061,408 before certain non-cash charges, plus non-cash charges of $15,037,329 from certain stock related transactions, plus other income of $658,333 from other income items. ICT-Europe had no operations for the year ended Sept. 30, 1992. The substantial decrease in the non-cash charges per share is due to fewer shares of the Company's common stock issued to affiliates pursuant to equity incentive agreements during fiscal 1993. The majority of such shares were issued in fiscal 1992.
 INTERNATIONAL CABLECASTING TECHNOLOGIES INC.
 Years Ended Sept. 30, 1993 1992
 Per Sh Per Sh
 Revenue $ 4,792,527 $ 773,861
 Loss from operations
 before: (i) Compensation to
 affiliates and (ii) Stock bonus
 and option compensation (10,643,693) (12,061,408)
 Compensation to affiliates (518,175) (13,025,100)
 Stock bonus and
 option compensation (2,561,937) (2,012,229)
 Loss from operations,
 before Equity in loss
 of ICT-Europe (13,723,805) (27,098,737)
 Other income (expense),
 before Equity in loss
 of ICT-Europe 869,762 658,333
 Equity in loss
 of ICT-Europe (3,553,932) ---
 Net loss (16,407,975) (0.52) (26,440,404) (0.90)
 Weighted average
 no. shares 31,647,954 29,384,928
 The Company included its share of the unconsolidated loss from operations of its foreign subsidiary, ICT-Europe, in its current fiscal period, which included the start up expenses relating to the European launch and initial market development of DMX in Western Europe. During the year, the Company completed arrangements with a subsidiary of Tele-Communications, Inc. ("TCI") for TCI's 49% equity position in ICT-Europe, for which TCI agreed to fund the operating costs of that foreign subsidiary up to $25 million.
 The Company cited increased revenue of $4,018,666, or 519%, due to continuing expansion in the marketing of DMX in the U.S. At Sept. 30, 1993, there were approximately 300,000 residential subscribers and approximately 7,100 commercial establishments receiving the DMX service. For revenue accrual purposes, the Company has used 206,000 estimated residential subscribers based on sales data gathered from local cable system personnel at its affiliates. This is in comparison to the 300,000 subscribers that the Company estimates are currently active, which is based on information provided to ICT by its affiliates and data collected by ICT relating to the number of authorized tuners tracked by the Company's computerized authorization system. Operating expenses decreased by $9,356,266, or 34%, principally due to fewer shares of the Company's common stock issued to affiliates pursuant to equity earn out agreements in fiscal 1993 compared to fiscal 1992. Due to increase in revenue and the decrease in operating expenses the Company reported a narrower loss per share from operations compared to the fiscal year ended 1992.
 During 1993, the Company revised its method of estimating subscribers for revenue accrual purposes which was based on both the authorized tuner data the Company tracks and the sales information provided by its cable affiliates. This revised method was implemented as the number of subscribers the Company estimated were actually receiving the service were greater than the number of subscribers reported in the sales information from its affiliates. Based on the authorized tuner data, the number of tuners the Company's affiliates have requested to be authorized is substantially greater than the 300,000 subscribers the Company estimates are actually receiving the service. At Sept. 30, 1993, the Company has taken the most conservative approach for revenue accrual purposes and is using only the sales data of 206,000 subscribers. As a result, the Company has restated its revenue accrual for the three months ended June 30, 1993, to reflect only the subscriber information available from the sales data provided by its affiliates. This restatement reduces the Company's revenue by $370,381 and reduces the related Scientific-Atlanta and music rights royalties expenses by $37,036, which increases the loss by $333,345, or $(0.01) per share, for the three month period.
 The Company intends to implement internal procedures to validate the authorized turner information and bill its cable affiliates based on the number of tuners they have instructed the Company to authorize. This procedure will allow the Company a means to directly audit the subscriber numbers being reported by its cable affiliates and bill for any discrepancies between the data reported by the cable affiliates and the data they provide for billing purposes.
 -0- 12/11/93
 /CONTACT: Robert M. Manning, V.P. Finance & Business Development of ICT, 310-444-1744, ext. 137, or fax, 310-444-1717/
 (TUNE)


CO: International Cablecasting Technologies, Inc. ST: California IN: TLS SU: ERN

MP -- NYSA002 -- 2903 12/11/93 14:43 EST
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Date:Dec 11, 1993
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