ACTV, Inc. Reports 2000 Results
(PR Newswire, 03/22/2001 16:01)
/FROM PR NEWSWIRE NEW YORK 800-776-8090/ [STK] IATV [IN] CPR MLM TVN [SU] ERN TO BUSINESS AND TECHNOLOGY EDITORS:
ACTV, Inc. Reports 2000 Results
NEW YORK, March 22 /PRNewswire/ -- ACTV, Inc. (NASDAQ:IATV), a digital media company specializing in enhanced media, interactive TV (iTV) advertising and personalized programming applications, today reported results for the three and twelve months ended December 31, 2000.
Revenues for the year ended December 31, 2000 increased 176% to $8.0 million, compared with $2.9 million in the prior year. The company reported a net loss of $34.6 million in 2000, or $.70 per share, compared with $27.0 million, or $.70 per share, for 1999.
Joe Dwyer, Executive Vice President and CFO of ACTV, Inc., commented, "Results for 2000 reflect continued growth in revenues for our Enhanced Media Services and the expenses associated with the development of our digital and interactive television products and services. Our balance sheet is very strong, with no long-term debt, putting us in excellent position to pursue our long-term business plan."
"ACTV has achieved a number of important milestones in 2000 and early 2001, capping a year in which we substantially enhanced our position in the digital media marketplaces," said William C. Samuels, Chairman and CEO. "Taken together, our recent strategic moves establish ACTV as a unique company in an otherwise fragmented market - a company that can offer a full array of technical and creative services, tools and applications that power emerging digital media platforms.
"Among our most important strides this year were our advances in making targeted, addressable advertising a reality," continued Mr. Samuels. "Our selection by AT&T Broadband to introduce SpotOn(TM) in more than 40,000 AT&T Digital Cable homes in Aurora, Colorado is a watershed event in what we believe will be a revolution in television advertising. We followed that news with our creation of AdVision Systems, LLC in conjunction with partner nCUBE Corporation, a move which enables us to extend our iTV advertising offering by providing leading-edge ad sales management systems. Subsequent to year-end we took another important step in our evolution with the acquisition of Intellocity, Inc., the preeminent global iTV developer, a move which adds an unmatched slate of technical and creative services to our existing tools and applications.
"As we look ahead through 2001, we see an environment in which ACTV will build substantially on the progress made in 2000. We see a groundswell of interest in addressable advertising, and we're in position with a solution that enables cable operators to significantly enhance their advertising revenue streams. When matched with our enhanced media services, including HyperTV with Livewire and the interactive gaming capability offered by our Bottle Rocket subsidiary, ACTV covers the most exciting applications in the digital media universe. All of our applications are platform-agnostic, and they work on the current digital platforms being deployed by cable today. Add to the applications a full slate of tools and services as well as relationships with the technology providers and programmers who are driving digital media, and we believe ACTV is in excellent position to prosper as our industry moves from the development to deployment to execution phases in 2001 and 2002," concluded Mr. Samuels.
ABOUT ACTV, INC.
ACTV, Inc., (NASDAQ:IATV) is a digital media company providing technical and creative services, tools and proprietary products for enhanced media, interactive TV advertising, and personalized programming applications. Based in New York City, ACTV has strategic relationships with key players in the Internet, television and digital technology fields, including Liberty Digital, Motorola Broadband Communications Sector, OpenTV and Liberty Livewire Corporation. For more information, visit actv.com.
ACTV, INC., & SUBSIDIARIES
Consolidated Statement of Operations
For the year ended December 31, 2000 1999
Revenues $8,016,453 $2,909,642
(Loss) before extraordinary item $(33,169,593) $(27,026,316)
Basic and diluted (loss) per share
before extraordinary item $(0.67) $(0.70)
Net (loss) applicable to
common shareholders $(34,580,732) $(27,026,316)
Basic and diluted (loss) per share $(0.70) $(0.70)
Weighted average number of common shares
outstanding 49,501,885 38,491,044
For the quarter ended December 31, 2000 1999
Revenues $2,173,807 $1,179,176
(Loss) before extraordinary item $(13,148,648) $(7,732,470)
Basic and diluted (loss) per share
before extraordinary item $(0.26) $(0.18)
Net (loss) applicable to
common shareholders $(13,148,648) $(7,732,470)
Basic and diluted (loss) per share $(0.26) $(0.18)
Weighted average number of common shares
outstanding 51,154,057 42,195,104
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks defined in this document and in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the companies, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the companies disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof. SOURCE ACTV, Inc.
-0- 03/22/2001
/CONTACT: Investors - Ted O'Donnell, ACTV, Inc., 212-217-1600, ir@actv.com; or Media - Jeff Majtyka, or John Buckley, or Kim Holt, all of Brainerd Communicators, 212-986-6667, actv@braincomm.com, for ACTV, Inc./
/Web site: actv.com
Companies or Securities discussed in this article: Symbol Name
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