(COMTEX) B: Muller Media Inc., Second Quarter Earnings Meet Projections
B: Muller Media Inc., Second Quarter Earnings Meet Projections
NEW YORK, Aug 29, 2002 (PRIMEZONE via COMTEX) -- Muller Media Inc.,
(OTCBB:MULM) recently reported a net loss of $ 21,000 for the quarter ended June
30, 2002 versus a net profit of $248,000 for the same quarter a year ago. Net
loss for the first six months of 2002 totaled $8,500 versus a net loss of
$323,000 same period a year ago. This nearly "break even" status is in line with
Company projections.
On a per share basis, net income was a break even in the most recent quarter and
on a year to date basis for 2002 compared with a $ 2,480 per share in the
year-ago second quarter and a net loss per share of $(3,240) per share in the
year to date period in 2001. Per share amounts were based on weighted average
shares outstanding of 13,475,750 in the year 2002 second quarter versus 100
shares for the same period a year ago.
The 2002 earnings for the quarter and the year to date were adversely affected
by a non-cash charge to earnings as a result of the issuance of 300,000 shares
of common stock to consultants totaling $366,000.
Revenue for the six month period ended June 30, 2002 was $2,380,000, an increase
of $25,000 as compared with the same period in 2001. The increase can be
directly attributed to the distribution of a new package of motion pictures and
sales fees earned on cable contracts executed in early 2002.This reflects well
on the current period of planned growth which Muller is going through; despite
reduced advertising budgets for the television stations which purchase Muller's
film content. The Company's current offerings continue to be in great demand,
and Muller has recently acquired the rights to a number of additional films and
is continuing to seek new film content to offer to its customers.
Cash Flow from operations for the six months period ended June 30, 2002 improved
considerably over the same period a year ago; $ 274,347 versus $150,896.
John J Adams CEO of Muller Media certified as to the financial statements, in
accordance with the requirements of the Sarbanes-Oxley Act; even though this was
not a requirement for a company as small as Muller Media Inc.
Muller is an entertainment company, which packages motion picture and other
entertainment events and distributes them to television stations and cable
networks.
This Press Release may contain statements that constitute "forward-looking
statements." These forward-looking statements can be identified by the use of
predictive, future-tense or forward-looking terminology, such as "believes,"
"anticipates," "expects," "estimates," "plans," "may," "will," or similar terms.
These statements appear in a number of places in this Press Release and include
statements regarding the intent, belief or current expectations of the Company,
its directors or its officers with respect to, among other things: (i) trends
affecting the Company's financial condition or results of operations for its
limited history; (ii) the Company's business and growth strategies; and, (iii)
the Company's financing plans. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance and involve
significant risks and uncertainties, and that actual results may differ
materially from those projected in the forward-looking statements as a result of
various factors. Factors that could adversely affect actual results and
performance include, among others, the Company's operating history, potential
fluctuations in quarterly operating results and expenses, government regulation,
technological change and competition.
Consequently, all of the forward-looking statements made herein are qualified by
these cautionary statements and there can be no assurance that the actual
results or developments anticipated by the Company will be realized or, even if
substantially realized, that they will have the expected consequence to or
effects on the Company or its business or operations. The Company assumes no
obligations to update any such forward-looking statements.
More information on this company can be found on eWorldWire's Online Newsroom
at: HTML: eworldwire.com ONLINE NEWSROOM:
eworldwire.com
By Staff
CONTACT: Muller Media Inc.,
Patrick O'Reilly
(212) 317-0175.
(C) Copyright 2002 PrimeZone Media Network, Inc. All rights reserved.
-0-
INDUSTRY KEYWORD: Entertainment & Leisure
SUBJECT CODE: ENTERNTAINMENT
MULTIMEDIA
Company Announcement
*** end of story *** |
