Read these parts of the ONCO release today. 1997 was a year of significant accomplishments for On Command Corporation,'' Bob Kavner, President and Chief Executive Officer, said. ''In our first fiscal year as a public company, we successfully merged the operations of SpectraVision and On Command Video. With the integration behind us, our product development and engineering efforts have increased to support our product initiatives, including high-speed, in-room Internet access, a custom platform geared to the small hotel marketplace, and an improved hotel guest user interface. This exciting, new interface will support full-motion video and audio previews of programming and provide a significant vehicle for advertising sales.''
Brian Steel, Chief Operating Officer and Chief Financial Officer, added, ''We are pleased that the Company made substantial progress towards its goals of driving revenue per room and direct margins higher during the year, while lowering the overall costs per room of supporting our hotel systems. Our operational efforts significantly increased the efficiency of our internal systems and processes, as well as the productivity of our employees. Looking to 1998, we expect per room economics will improve throughout the year as we continue to realize significant benefits in room revenues by converting the lower performing SpectraVision rooms to the more reliable, On Command on-demand technology. In addition, we will provide greater focus on program management and controlling overall support costs.''
Fourth quarter revenues in 1997 decreased 0.6% from |
