J2/National Lampoon Announces Results for First Quarter Fiscal 2000
LOS ANGELES, Dec. 23 /PRNewswire/ -- J2 Communications (Nasdaq: JTWO - news) today announced a loss of $(157,000), or $(0.13) per share for its first fiscal quarter, which ended October 31, 1999. Earnings for the comparable period in fiscal 1999 were $194,000 or $0.16 per share. All figures are adjusted to reflect a one-for-three stock split effective October 26, 1998.
Revenues for the quarter totaled $321,000 versus $604,000 for the quarter ending October 31, 1998.
The Company attributed the results to a significant investment made in its new Internet business, nationallampoon.com. The site, which launched October 25, 1999, attracted more than four million hits during its first month.
Results were further impacted by the expiration of International Family Entertainment's license for National Lampoon made-for-television movies.
James P. Jimirro, Chairman and CEO of J2/National Lampoon, commented, ''Results are in line with our expectations. In nationallampoon.com, which launched just six days before the end of the quarter, we are building a firm foundation of assets.'' He continued, ''We expect that a favorable return on this investment will be reflected in our company's future performance.'' |
