<<Much of the earnings last quarter were from investments not sales.>>
I don't know what your point is. Net income from investments
decreased compared to a year ago. Net revenues are up more than 300%
from last year. Although sales and marketing costs are high at this
stage, these numbers should improve over the next few quarters. Net
income from sales should improve dramatically by next year.
Peter
Three Months Ended
----------------------------------
September 30, September 30,
1997 1996
--------------- ---------------
<S> <C> <C>
Net revenues $ 17,320,000 $ 5,515,000
Cost of revenues 1,992,000 1,038,000
--------------- ---------------
Gross profit 15,328,000 4,477,000
--------------- ---------------
Operating expenses:
Sales and marketing 11,187,000 4,015,000
Product development 2,557,000 1,362,000
General and administrative 1,362,000 1,673,000
Other - nonrecurring costs - -
--------------- ---------------
Total operating expenses 15,106,000 7,050,000
--------------- ---------------
Income (loss) from operations 222,000 (2,573,000)
Investment income, net 1,168,000 1,262,000
Minority interests in losses from operations
of consolidated subsidiaries 247,000 166,000
--------------- ---------------
Income (loss) before income taxes 1,637,000 (1,145,000)
Provision for income taxes - -
--------------- ---------------
Net income (loss) $ 1,637,000 $ (1,145,000)
--------------- ---------------
--------------- ---------------
Net income (loss) per share $0.03 ($0.03) |
