Digital video solutions developer
Media 100 Inc.
has posted the financial results for its second quarter, ending May 31, 2002. While the company posted a 46 percent quarter-to-quarter revenue increase, it still noted a net loss.
Media 100 said that revenue for the quarter totaled US$6.6 million, compared to $4.5 million for the first quarter. That’s also down from the same period a year ago, when Media 100 reported $8.0 million in second quarter sales for 2001.
All told, the company posted a net loss for the quarter of $3.7 million, or $0.29 per share — while in the red, still improving a bit from the $5.7 million they reported for the same period a year ago.
Media 100 president and CEO called the company’s introduction of its PC-compatible 844/X system “a pivotal second quarter achievement,” and said that it remains his company’s focus in the third quarter.
Media 100’s guidance for the third quarter calls for sales between $6.0 and $7.0 million, with net loss reduced from the second quarter to $0.11 to $0.14 per share.