ZoomerMedia, publishers of Zoomer magazine, reports six month loss of $1.7 million

ZoomerMedia Limited, the publishers of Zoomer magazine and its co-branded suite of websites, ended the first six months of its current fiscal year with flat revenues and a slightly increased after tax loss. For the six months ended December 31, 2009, the company reported revenues of $5.4 million, exactly the revenues of the comparable six months the year before. Expenses in the first six months were $7.3 million, resulting in a loss of $1.7 million; in the comparable six months ended December 31, 2008, the company  had revenue of $5.4 million, expenses of $7.5 million and an after tax loss of  $1.5 million.

Second quarter revenues were $3.1 million, expenses were $4 million and net loss after tax was $884,136.This compares with the previous year's second quarter results of $2.8 million, expenses of $3.9 million and a loss of $696,299.

Zoomer is published nine times a year, aimed at a mature market, which ZoomerMedia defines as aged 45+. The company claims paid circulation of 180,000 and is estimated to sell about 12,000 on newsstands.