Audiohighway.com loss widens in third quarter

Audiohighway.com which features links to sites that support Microsoft's Media Player audio and video technology, revenues jumped 146 percent from 2Q to 3Q but still lost $2.8m

Audiohighway.com posted drastically improved sales in its third quarter Monday, but still lost $2.8m (£2.0m), or 50 cents a share, on sales of $613,000.

There was no First Call consensus estimate for Audiohighway.com this quarter. Its shares closed off 5/16 to 12 11/16 ahead of the earnings report.

In the year-ago quarter, it lost $2.3 million, or $2.37 a share, on sales of $77,000. "More importantly than the year to year comparisons, our third quarter revenues increased 146 percent over revenues for the second quarter of 1999 and are in line with management's expectations," said CEO Nathan Schulhof in a prepared release. "We are continuing to build traffic on our Web sites, which we believe should, in the long run, lead to further increases in revenues."

Audiohighway.com shares moved up to a 52-week high of 38 5/8 in April after falling to a low of 6 in December.

See techTrader for more technology investment news, plus quotes and research.

Newsletters

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
See All
See All