Here they are:
Monday May 14, 5:13 pm Eastern Time
Press Release
SOURCE: ACTV, Inc.
ACTV, Inc. Reports First Quarter 2001 Results
NEW YORK, May 14 /PRNewswire/ -- ACTV, Inc. (Nasdaq: IATV - news), a provider of technical and creative tools, products and services for enhanced media and digital television, today reported results for the three months ended March 31, 2001.
Revenues for the quarter ended March 31, 2001 increased 135% to $3.2 million, compared with $1.4 million in the first quarter of 2000. The company reported a net loss of $10.2 million in the first quarter of 2001, or $.20 per share, compared with a net loss of $5.2 million, or $.12 per share, in the first quarter of 2000.
``We are pleased with the increase in revenues in the first quarter, especially in light of the softness in the digital media markets and economy in general,'' said Christopher Cline, ACTV Chief Financial Officer. ``While this softness is expected to continue over the near term, we anticipate achieving sequential revenue growth in the second quarter, which would result in first-half revenues more than double those reported for the comparable year-ago period. Our expanding slate of digital media services should continue to gain market traction over the balance of the fiscal year, while on the cost side we are marking prudent expense reductions that will enable us to maintain our strong balance sheet and improve our bottom line as the year progresses. With significant cash balances, no long-term debt and the infrastructure in place to support a broad base of products and services, ACTV is in excellent position to continue executing its business plan.''
``ACTV has emerged in recent months as a full-service provider and enabler of digital interactive tools, services and applications,'' said William C. Samuels, ACTV Chairman and Chief Executive Officer. ``Our most significant development was the acquisition of Intellocity, a leading specialist in building iTV [interactive TV] systems for a growing blue-chip client base. The combination of ACTV's services and applications with Intellocity's iTV development capabilities has already generated excitement with such clients as Playboy.com.
``We have also developed and solidified relationships with some of the entertainment industry's most innovative brands as they seek to enhance both new and existing content,'' continued Mr. Samuels. ``We formed an agreement with Game Show Network (GSN) to enable viewers with WebTV set-tops to enjoy real-time interactive game play. Our Bottle Rocket subsidiary has signed a consulting agreement to help 3DO explore Internet applications for its innovative entertainment software. And we expanded our SpotOn(TM) targeted advertising product into Europe through a technology partnership with Philips Digital Networks, a unit of Royal Philips Electronics.
``This was a busy quarter for ACTV both in terms of day-to-day business and the strategic moves we have made to distinguish ourselves in the emerging iTV space. Our full service iTV tools, products and services; extensive enhanced media experience; and attractive IP portfolio are unmatched in the industry.''
ABOUT ACTV, INC.
ACTV, Inc., (Nasdaq: IATV - news) 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.
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.
ACTV, INC. & SUBSIDIARIES
Consolidated Statement of Operations
(Unaudited)
Three months ended March 31, 2001 2000
Revenues $3,273,442 $1,393,037
Net income (loss) ($10,338,690) ($5,236,250)
Basic and diluted income (loss) per share ($0.20) ($0.12)
Weighted average number of common
shares outstanding 52,358,579 45,215,172
MAKE YOUR OPINION COUNT -- Click Here
tbutton.prnewswire.com; |
