New Frontier Reports Strongest Quarter in Company History
Vast Improvement Over Second Quarter Earnings
Posted Feb 05th, 2008 10:30 AM by Peter Warren
- New Frontier Media, Inc., parent company of The Erotic Networks (TEN) and broadcast producer/distributor of PenthouseTV and other brands, announced today that its earnings for the third fiscal quarter, which ended Dec. 31, 2007, were the highest of any quarter in the company's history.
Revenue was $17.9 million for the quarter, up eight percent from $16.6 million for the same quarter one year earlier.
"We are pleased with the financial results and performance of our business in the third quarter," said New Frontier CEO Michael Weiner. "The film production segment had a very strong quarter as expected, and out Transactional TV segment continues to execute well in a very competitive market. We believe this segment has now stabilized and is poised to resume a growth trend in our next fiscal year as we experience results connected with our recent launch of an additional channel on the nation's largest DBS platform."
The results of this quarter were a vast improvement over those of the second quarter
, when revenues saw a substantial drop compared to those during the same period the previous year.
Commented Weiner, "We appreciate the support of shareholders who have believed in the company's ability to execute through the challenging quarters of this past fiscal year."
To read the complete breakdown of New Frontier's third quarter fiscal report, click here