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TMCNet: ACME Communications Q3 net loss widens

[November 13, 2009]

ACME Communications Q3 net loss widens

Nov 13, 2009 (Datamonitor via COMTEX) -- ACME Communications has reported a net loss of $1.43 million, or $0.09 per share, for the third quarter ended September 30, 2009, compared to a net loss of $1.04 million, or $0.07 per share, for the third quarter of 2008.


For the third quarter of 2009, net revenues were $6.67 million, compared to $8.48 million for the third quarter of 2008.

For the first nine months ended September 30, 2009, net revenues were $20.05 million, compared to $25.31 million for the corresponding period of 2008. Net loss was $4.22 million, or $0.26 per share, compared to a net loss of $13.89 million, or $0.87 per share, for the first nine months of 2008.

Jamie Kellner, chairman and CEO of ACME Communications, said: "Market conditions continue to be challenging, especially coupled with our larger competitors efforts to recapture share coming off a record 2008 political year. We expect, however, market revenues to decline less severely in the fourth quarter of 2009.

"Effective October 1, 2009, we modified the employment arrangements of our corporate management staff, reducing base compensation by an average of 42% while allowing each of them to become non-exclusive while working a majority of their time overseeing the company's operations." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon

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