Business
Section Rouge Media posts loss in 1st quarter 2007
Section Rouge Media posts loss in 1st quarter 2007.
About this update from Falcon Energy Materials Plc
[{"type":"text","content":"\n\n\n\n-------------------------------------------------------------------------\nSUMMARY\n-------\n MARCH 31, 2007 MARCH 31, 2006\n 3 months 3 months\n Unaudited Unaudited\n\nGROSS SALES $842,218 $986,935\nOPERATING COSTS $468,822 $511,626\nEBITDA ($182,396) $98,493\nNET GAIN (LOSS) ($467,828) $36,880\nNET GAIN (LOSS) PER SHARE ($0.011) $0.002\n-------------------------------------------------------------------------\n\n\nLONGUEUIL, QC, May 30 /CNW Telbec/ - SECTION ROUGE MEDIA INC. (TSX: SRO)\npublished its results for the first quarter of 2007 today.\n\n\nThe Company's gross sales totalled $842,218, versus $986,935 for the\nfirst quarter ended on March 31, 2006 - a 3% drop. This translates to a net\nloss of $467,828 for the Company during this period, compared to a gain of\n$36,880 last year. The loss per share came in at $0.011, versus a gain of\n$0.002 per share for the first quarter of 2006.\n\n\nSales for the quarter achieved by the company's magazine publishing\noperation were down 15% over the same period last year, for a net loss of\n$271,640. Projects launched by the Company's Movie/Television Division have\nnot yet begun generating revenues, resulting in a $253,066 loss for this\nsector.\n\n\n"We are disappointed with this quarter's results. The Company has already\nbegun contemplating action steps that can be taken to improve the situation in\nthe very near future," stated Richard Desmarais, President and Chief Executive\nOfficer of Section Rouge Media Inc. He specified that the Company's cash\nposition and current long-term-debt-free status would facilitate management's\nefforts to rectify the situation.\n\n\nThe company also indicated that it is pursuing other opportunities and\nexpects to make at least one more significant acquisition in the media\nindustry.\n\n\nThe TSX Venture Exchange has neither approved nor disapproved the\n\n\ncontents of this press release.\n\n\n%SEDAR: 00008697EF\n\n\n","length":2354,"tagName":"div"}]