Professional digital video solutions developer
Media 100 Inc.
today reported its financial results for its first quarter ending February 28, 2003. The company posted net sales of US$4.8 million for the quarter, a 6.6 percent increase over the same period last year and 20 percent better than the company’s guidance suggested, according to Media 100 President and Chief Executive Officer John Molinari.
Media 100 posted a net loss of $1.4 million for the quarter, or $0.10 per share — in improvement compared to the company’s performance for the same period last year, when it posted a net loss of $5.9 million.
Media 100’s proprietary 844/X editing system continues to be the company’s revenue focus — it increased end-user shipments of the custom system by 48 percent this past quarter, and announced several new 844/X-related developments.
“These advanced developments are leading-edge technically and important to customers; they will help us increase our market penetration in key segments, including independent content design, regional over-the-air and cable broadcasting, and Fortune 500 and higher-education video,” said Molinari.
Media 100 is expecting net sales for Q2 to be in the range of $4.5 – $5.0 million, with net loss in the range of $0.09 to $0.11 per share.