Audiohighway.com loss widens in third quarter
Published: 16 Nov 1999 12:06 GMT
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.
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