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Onstream Media Q2 net loss increasesJun 11, 2013 (Datamonitor via COMTEX) -- Onstream Media Corporation, an online service provider of live and on-demand internet video, corporate audio and web communications and content management applications, has reported that net loss for the second quarter ended March 31, 2013 was $2.17 million, or $0.12 loss per share, compared to a net loss of $720,594, or $0.06 loss per share, for the same quarter ended March 31, 2012. Total revenue for the second quarter ended March 31, 2013 was $4.39 million, compared to $4.66 million for the same quarter ended March 31, 2012. Net loss for the six months ended March 31, 2013 was $2.88 million, or $0.19 loss per share, compared to a net loss of $1.37 million, or $0.12 loss per share, for the same period ended March 31, 2012. Total revenue for the six months ended March 31, 2013 was $8.67 million, compared to $9.17 million for the same period ended March 31, 2012. Randy Selman, president and CEO of Onstream Media, said: "Although we did experience an overall revenue decline in the second quarter, as compared to the same quarter of the prior fiscal year, this was the result of an unexpected reduction in webcasting revenues and the loss of a single DMSP and hosting customer whose revenues were resulting in very little margin. In fact, our consolidated gross margin for the quarter was approximately the same as consolidated gross margin for the same quarter of the previous year. "Although the first full quarter of revenues from the Intella2 operations were less than we expected, these operations achieved positive operating cash flow through March 31, 2013. We also incurred debt and other liabilities during the six months ended March 31, 2013 that was associated with this acquisition." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon |