Business
Section Rouge Media reports a second quarter loss, but its publications division improves
Section Rouge Media reports a second quarter loss, but its publications division improves.
About this update from Falcon Energy Materials Plc
[{"type":"text","content":"\n\n\n\nLONGUEUIL, QC, Aug. 29 /CNW Telbec/ -\n\n\n-------------------------------------------------------------------------\nSUMMARY\n-------\n 30 JUNE 2007 30 JUNE 2006 30 JUNE 2007 30 JUNE 2006\n 3 months 3 months 3 months 6 months\n (unaudited) (unaudited) (unaudited) (unaudited)\n\nGROSS SALES $ 882,450 $ 837,316 $ 1,724,668 $ 1,824,251\nOPERATING COSTS $ 473,848 $ 491,292 $ 942,670 $ 1,002,918\nLOSS BEFORE TAXES $ (227,766) $ (64,254) $ (410,162) $ 29,539\nNET LOSS $ (291,526) $ (93,673) $ (759,354) $ (56,793)\nLOSS PER SHARE $ (0.007) $ (0.004) $ (0.017) $ (0.003)\n-------------------------------------------------------------------------\n\n\nSECTION ROUGE MEDIA inc (TSX : SRO) recorded a 5% increase in gross sales\nfor its second quarter of 2007, which ended June 30th. However, the Company\ncontinues to post a loss mainly due to its cinema division, of which the\nCompany has taken steps to divest itself.\n\n\nThe Company's gross sales rose to $882,450, in comparison to $837,316\nreported for the same period in 2006. In spite of this performance and a rigid\ncontrol of expenses, the Company recorded a net loss of $291,526 as compared\nto a $93,673 loss reported last year. Thus, the net loss per share is $0.007.\nThe Company's gross profit improved, from 41% in 2006 to 46% in the\nsecond quarter of this year.\n\n\nThe increase in sales is ascribable solely to its publications division,\nwhich was the only division to generate revenues. The deficit in the\npublications division decreased from $93,673 in 2006 to $85,382 for the same\nperiod in 2007. Meanwhile, due to the addition of the cinema division during\nthe summer of 2006, the Company's operating costs increased by 81%. For the\nsecond quarter of the year, the administration expenses of the cinema division\nwere $144,974.\n\n\n"Our Company has no long-term debt and we undertook on June 14th to sell\nour cinema division (Image in Media) which has lagged in producing results.\nThis transaction should be approved on August 31", stated\nMr. Richard Desmarais, President and Chairman of the Board. He further\nreflected that the contemplated acquisition, by reverse take-over, of Evolutra\nCorporation, a company specialized in internet production and diffusion, will\ncontribute significantly to the Company's revival.\n\n\nThe growth stock exchange TSX has neither ap...