Rande
TKS.
IATV,,earnings for anyone that wants to know ....
05/14 11:30 ACTV, Inc. Reports First Quarter 1999 Results
NEW YORK (May 14) BUSINESS WIRE -May 14, 1999--ACTV, Inc.
(NASDAQ:IATV) today reported results for the three-month period ended
March 31, 1999.
Revenues for the three months ended March 31, 1999 were $400,794,
compared to revenues of $361,247 for the three months ended March 31,
1998. All 1999 revenues and the majority of 1998 revenues derived from
sales of HyperTV(TM), the Company's TV-Internet convergence product.
The Company had a loss applicable to common shareholders of $7,380,471,
or $.23 per share, in the more recent quarter, compared with a loss
applicable to common shareholders of $2,772,137, or $.17 per share, for
the quarter ended March 31, 1998. Approximately $3.4 million, or over
46 % of the net loss for the 1999 quarter, was the result of a non-cash
charge for stock appreciation rights expense, due to a significant
increase in the market price of the Company's common stock during the
quarter.
New York-based ACTV, Inc. is a leader in interactive digital
television with its proprietary "Individualized Television" programming
capabilities, and a pioneer of TV-Internet convergence with its
patented HyperTV(TM) software application. ACTV is committed to
improving the television and Internet experience for consumers by
enabling the creation of more compelling content, while allowing
television programmers, advertisers and others to establish valuable
one-to-one relationships with consumers.
ACTV has relationships with many of the dominant players in the
Internet, television and digital technology fields, including: Liberty
Media Group; AT&T Broadband & Internet Services (formerly
Tele-Communications, Inc.); General Instrument Corporation;
Scientific-Atlanta, Inc.; Sun Microsystems, Inc.; FOX Sports Net; TCI
Music, Inc.; TV Guide Networks, Inc.; SkyConnect, Inc.; Pioneer Digital
Technologies, Inc.; Cablevision's Rainbow Sports; and The Sarnoff
Corporation. In September 1998, ACTV Entertainment and Liberty Media
formed a joint venture, LMC/IATV Events, LLC. ACTV Entertainment and
HyperTV Networks, Inc. are subsidiaries of ACTV, Inc.
For more information, visit ACTV's Web site at www.actv.com.
ACTV, INC. & SUBSIDIARIES
Consolidated Statements of Operations
Three Months Ended March 31, 1999 1998
---- ----
Revenues $ 400,794 $ 361,247
Income (loss) applicable to
common shareholders $ (7,380,471) $ (2,772,137)
Income (loss) per share $ (0.23) $ (0.17)
Weighted average number
of common shares outstanding 31,987,002 16,088,087
Disclaimer: 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 Company, are expressly qualified by
the cautionary statements and any other cautionary statements which may
accompany the forward-looking statements. In addition, the company
disclaims any obligation to update any forward-looking statements to
reflect events or circumstances after the date hereof.
-0- de/ny@
CONTACT: Bratskeir & Company
Mike Rosen (mrosen@bratskeir.com)
David Rosenberg (drosenberg@bratskeir.com)
212/679-2233
KEYWORD: NEW YORK
INDUSTRY KEYWORD: ENTERTAINMENT COMPUTERS/ELECTRONICS COMED
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