Computeruser.com
Latest News

Point.360 Announces Second Quarter and First Half Results

BURBANK, Calif. Feb. 11, 2011 December 31, 2010

$0.8 million $0.5 million $1.1 million

January 2011 $1 million $3 million

Revenues

December 31, 2010 $9.1 million $10.3 million $0.2 million $0.3 million New York $1.0 million Highland West Los Angeles $0.3 million

December 31, 2010 $17.3 $19.7 million New York Highland $2.9 million $0.5 million

Gross Margin

$3.0 million $3.3 million $4.9 million $5.3 million

Selling, General and Administrative and Other Expenses

$3.3 million $3.7 million December 31, 2010 $7.0 million $7.5 million $0.4 million

$0.1 million $0.3 million December 31, 2010 December 31, 2010 $0.3 million $0.4 million

$0.2 million December 31, 2010 $0.4 million $0.4 million $0.1 million $1.5 million

Other income represents sublease income.

Operating (Loss)

$0.4 million $2.5 $0.7 million $2.6 million

Net (Loss)

$0.6 million $0.05 $0.8 million $0.07 $2.6 million $0.24 $2.7 million $0.26

Consolidated Statements of Operations (unaudited) *

The table below summarizes results f or the three and six month periods ended December 31, 2009 and 2010:

Three Months Ended

December 31,

Six Months Ended

December 31,

2009

2010

2009

2010

Revenues

$     10,254,000

$            9,070,000

$        19,673,000

$       17,342,000

Cost of services sold

(6,981,000)

(6,090,000)

(14,341,000)

(12,495,000)

Gross profit

3,273,000

2,980,000

5,332,000

4,847,000

Selling, general and administrative expense

(3,704,000)

(3,319,000)

(7,493,000)

(6,961,000)

Research and development expense

(282,000)

(60,000)

(390,000)

(334,000)

Operating (loss)

(713,000)

(399,000)

(2,551,000)

(2,448,000)

Interest expense

(227,000)

(194,000)

(449,000)

(395,000)

Interest income

9,000

62,000

Other income

187,000

4,000

266,000

178,000

Loss before income taxes

(753,000)

(589,000)

(2,725,000)

(2,603,000)

Benefit from income taxes

   –

   –

   –

   –

Net loss

$        (753,000)

$           (589,000)

$      (2,725,000)

$      (2,603,000)

Loss per share:

  Basic:

     Net loss

$               (0.07)

$                 (0.05)

$               (0.26)

$               (0.24)

      Weighted average number of shares

10,491,166

10,763,166

10,321,794

10,647,677

  Diluted:

      Net loss

$               (0.07)

$                 (0.05)

$               (0.26)

$               (0.24)

      Weighted average number of shares

            including the dilutive effect of stock  

           options

10,491,166

10,763,166

10,321,794

10,647,677

Selected Bal ance Sheet Statistics (unaudited)*

June 30

2010

December 31,

2010

Working Capital

$            2,445,000

$             1,563,000

Property and equipment, net

20,157,000

19,079,000

Total assets

31,144,000

28,346,000

Current portion of long term debt

1,197,000

895,000

Long-term debt, net of current portion

9,646,000

10,305,000

Shareholder’s equity

11,830,000

9,698,000

* The consolidated statements of operations and presentation of balance sheet statistics do not represent the results of operations or the financial position of the Company in accordance with generally accepted accounting principles (GAAP), and are not to be considered as alternatives to the balance sheet, statement of income, operating income, net income or any other GAAP measurements as an indicator of operating performance or financial position.  Not all companies calculate such statistics in the same fashion and, therefore, the statistics may not be comparable to other similarly titled measures of other companies.  Management believes that these computations provide useful information to investors.

About Point.360

Los Angeles www.Point360.com www.MovieQ.com

Forward-looking Statements

Certain statements in Point.360 press releases may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include, without limitation, statements regarding  (i) the Company’s projected revenues, earnings, cash flow and EBITDA; (ii)  planned focus on internal growth and acquisitions; (iii) reduction of facilities and actions to streamline operations; (iv) actions being taken to reduce costs and improve customer service and (v) new business and new acquisitions.  Please also refer to the risk factors described in the Company’s SEC filings, including its annual reports on Form 10-K.  Such statements are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from those expected or anticipated in the forward-looking statements.  In addition to the factors described in the Company’s SEC filings, the following factors, among others, could cause actual results to differ materially from those expressed herein: (a) lower than expected net sales, operating income and earnings; (b) less than expected growth; (c) actions of competitors including business combinations, technological breakthroughs, new product offerings and promotional successes; (d) the risk that anticipated new business may not occur or be delayed; (e) the risk of inefficiencies that could arise due to top level management changes and (f) general economic and political conditions that adversely impact the Company’s customers’ willingness or ability to purchase or pay for services from the Company.  The Company has no responsibility to update forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release.

SOURCE Point.360

Leave a comment

seks shop - izolasyon
basic theory test book basic theory test