SoftWave Revenue Up In Q3
November 7, 2006 at 10:46 AM (PT)
SOFTWAVE MEDIA EXCHANGE (SWMX), which operates an Internet platform for buying, selling and managing radio and TV advertising, saw third-quarter net revenue climb from less than $100,000 to $600,000, thanks to expanded advertiser and broadcast adoption of the service. There was a 50% jump in billings, from $3 million to $4.5 million, with political advertisers accounting for $1.2 million of the current total. The company's operating loss grew from $6,000 to $2.8 million, while the net loss widened from $8,000 to $2.8 million (0/1 cent per common share).
SWMX, run by CEO JOSH WEXLER and COO BILL FIGENSHU, says it now has 1,400 stations registered, including all 15 of the top 15 radio broadcast groups and 39 of the nation's top 50 stations.