Debut Cuts Losses In Q2 '08
August 20, 2008 at 9:45 AM (PT)
DEBUT BROADCASTING CORP. Inc. generated net revenue of $726,438 in the second quarter of 2008, a tidy increase of $725,831 over the $607 net revenue for the quarter that ended on JUNE 30th, 2007. However, due to increased seasonal expenses, Debut's overall loss for the three-month period was $263,285. The second-quarter 2008 loss was flat when compared on a quarter-by-quarter basis to the first quarter 2008.
For the a six-month period ending JUNE 30, 2008, DEBUT generated net revenue of $1,177,783, an increase of 446% over the first six months of 2007. Debut's overall loss for the first half of 2008 was $525,278, compared to $711,855 at the end of the 2007 first six-month period.
"DEBUT had a great second quarter of 2008 comparatively, with a quarterly increase in net revenue of more than 440%," DEBUT BROADCASTING CEO STEVEN LUDWIG said. "DEBUT continues to see an increase in net revenue as the radio syndication arm thrives and additional radio stations are brought under DEBUT BROADCASTING Umbrella ... For example, we experienced a 60% growth in second-quarter net revenue versus first-quarter results. In addition, not counting one-time and seasonal expenses, our quarter-over-quarter losses are dropping as well."