Andrew:
here it is:
Wednesday February 19 10:01 PM EDT
Graphix Zone Reports Second Quarter Financial Results And Announces
Additional Capitalization
IRVINE, Calif., Feb. 19 /PRNewswire/ -- Graphix Zone Inc
today reported second quarter revenues of approximately $1.6 million for the
period ending December 31, 1996. This represents an increase of
approximately $525,000 over the corresponding prior year period. These
results come amid Graphix Zone's announcement of a successful private equity
offering and receipt of a term loan.
On January 31, 1997, the Company received a $3,700,000 term loan from
Madeleine, L.L.C. In addition, the Company received net proceeds of $420,000
through a private equity offering of convertible preferred stock. "These
financing moves represent significant financial progress for the Company in
the current period," said Graphix Zone Chairman Ron Posner. "We are
currently seeking to expand our development capabilities for new markets both
domestically and internationally."
The Company reported a quarterly net loss of $2,858,000 or $(.27) per
share compared to a net loss of $4,597,000 or $(1.01) cents per share for the
comparable prior year period. In the immediately preceding quarter, the
Company reported a net profit of $303,000 or $.03 per share.
"Revenues were lower in the second quarter compared to the first quarter of fiscal 1997, due in part to the lack of new
product releases and the Company recording a charge of approximately $590,000 related to certain returns and markdowns,"
said Graphix Zone President Norm Block. "However, we have new opportunities with interactive music products for
DVD-ROM and Internet suite products currently in development for CD-ROM," said Block. The Company currently
publishes the popular PC game products Wheel of Fortune and Jeopardy.
Founded in 1989 and based in Irvine, California, Graphix Zone, Inc. develops and publishes award-winning branded
entertainment, interactive music, and Internet retail products on CD-ROM and DVD-ROM. Last week Graphix Zone
introduced the highly anticipated Santana: The River of Color and Sound, an exciting new interactive music CD-ROM. More
information is available on Graphix Zone's corporate website and new Internet store at gzone.com.
Summarized Financial Data
Graphix Zone Inc
3 Months 3 Months 6 Months 6 Months
ended ended ended ended
12/31/96 12/31/95 12/31/96 12/31/95
Revenues $1,592,435 $1,064,794 $5,047,570 $1,975,401
Net loss $(2,858,478) $(4,596,765) $(2,555,641) $(6,035,191)
Earnings
per share $(0.27) $(1.01) $(0.24) $(1.35)
SOURCE Graphix Zone, Inc.
I find it in the yahoo/quote
Haiji |
