Alpha Announces 1999 Financial Results
TORONTO, March 8 /CNW/ - Alpha Communications Corp. (CDNX:ACZ) today
announced its financial results for the year ended December 31st, 1999. There
was a decline in revenue from $1,926,728 in 1998 to $727,127 in 1999,
primarily reflecting the competitive nature of the custom publishing business
in Canada. The Company was however successful in selling custom branded books
to notable clients like Loblaws and Co-operators Insurance. The Company
experienced an operating loss of $420,421 but had a gain of $143,962 on the
sale of shares of a subsidiary, reducing the net loss for the year to $276,459
or $.03 per share.
Alpha has spent the past three years developing publishing and sales
relationships in Canada and China and was recently awarded a book and cassette
order for the company's ESL program from the Beijing Academy of Educational
Science.
To take advantage of some of the opportunities which have developed, the
Company is moving ahead with its previously announced $2,000,000 private
placement. This placement is expected to close within the next few weeks.
Alpha Communications Corp. is a specialty publisher and distributor of
books, audio, CD and other complementary multimedia products. Through its
wholly owned subsidiary, International Alpha Media Inc., the Company has
developed and published English As A Second Language content for books and
audio formats for the Chinese market.
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For further information: about the Company please contact Michael P.
Kraft, Alpha Communications Corp., Tel (416) 927-7000 ext. 23, email:
mkraft@alphacomcorp.com |
