Tuesday, November 02, 2010

Zoomer Media reports increased loss on operations at year end 2010

ZoomerMedia, the parent company of Zoomer magazine, reports that it had a net operating loss of $6.2 million (or about 60%) on revenues of $10.3 million for the year ending June 30, 2010. About a third, or $2.1 million of the loss, came in the most recent quarter in which the company had revenues of $3.2 million, it reported in a company release.All results include amortization, depreciation and write-downs.
The most recent year's loss is $900,000,  more than last year's comparable results in which the company had $9.7 million in revenue and a net operating loss of $5.3 million (about 55% of revenue).
ZoomerMedia, controlled by Moses Znaimer, is a publicly traded company with holdings in print, online properties, radio and television.

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