Salon Media Group Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2016
November 14, 2016 at 04:24 pm
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Salon Media Group Inc. reported unaudited consolidated earnings results for the second quarter and six months ended September 30, 2016. For the quarter, the company reported net revenues of $994,000 compared to $1,685,000 a year ago. Loss from operations was $855,000 compared to $486,000 a year ago. Net loss was $866,000 or $0.01 per basic and diluted share compared to $496,000 or $0.01 per basic and diluted share a year ago. The decrease in revenue as compared to a year ago was a result of both a decline in direct advertising revenues as it shifted its advertising sales efforts to programmatic advertising, and a short-term reduction in inventory available for programmatic advertising sales.
For the six months, the company reported net revenues of $2,290,000 compared to $3,379,000 a year ago. Loss from operations was $1,693,000 compared to $1,120,000 a year ago. Net loss was $1,715,000 or $0.02 per basic and diluted share compared to $1,140,000 or $0.01 per basic and diluted share a year ago.
Salon Media Group, Inc. is an independent publication company. The Company covers news and politics, alongside its coverage of culture and entertainment, science and health, and food. The Company has driven the national conversation through journalism distributed across Salon.com, Salon TV, social media, news platforms, email newsletters and mobile applications. Its content, including its flagship show, Salon Talks, and other Salon TV programming, reaches an audience of approximately 10 million monthly new visitors. The Companyâs publication is free. It also offers monthly subscription for ad-free publication. The Company covers national news and politics, and science and health through investigations, insightful reporting, commentary and analysis. It covers television (TV), movies, books, entertainment and culture news through insightful reporting, criticism, commentary and analysis. Its Life Stories section features insightful commentary and essays about the human experience.