Business
Section Rouge Media reports an increase in profitability for its first quarter of 2006
Section Rouge Media reports an increase in profitability for its first quarter of 2006.
About this update from Falcon Energy Materials Plc
[{"type":"text","content":"\n\n\n\n\n>\n\nLONGUEUIL, May 30 /CNW Telbec/ - SECTION ROUGE MEDIA inc (TSX : SRO)\ntoday published the financial results of its first quarter of 2006 and\nannounces that it has increased its profitability.\nThe gross sales of the Company increased from $953,699 for the first\nquarter of 2005 (ended March 31, 2005) to $986,935 for the current quarter, an\nincrease of 3%. The Company realized a net profit of $36,880, as compared to\n$28,817 for the same period in 2005. Section Rouge MDedia inc. thus posts a net\ngain (before taxes, etc.) of $98,493, i.e., $0.002 per share.\nThe Company has successfully completed its reorganization program\nimplemented following the close of one of its periodicals in 2004 and the sale\nof one of its publication divisions.\n\"We rapidly took the necessary steps to reposition the Company\nfinancially and allow us to concentrate on the Company's development through\nacquisition\", stated the President and Chairman of the Board of Section Rouge\nMDedia, Mr. Richard Desmarais.\nOn October 11, 2005, the Company announced that it would acquire all\nissued and outstanding stock of Image In Media inc., a Montreal-based\nenterprise acting as financial broker and executive producer in\ncinematography. This acquisition will permit Section Rouge Media to establish\nitself in international film trade, television and other new televisual\ntechnologies. Furthermore, it will permit Section Rouge Media, through its \nby-products, to strengthen its publishing operations.\nThe original transaction of October 2005 was modified on April 7, 2006 by\nthe partial elimination of certain assets, a decrease in the purchase price, a\nreduction in the call for public financing, and a change in the issuing\nbroker. On May 25, the provisional prospectus setting forth the details of the\ntransaction and the financing thereof was filed with the governing\nauthorities, and can be viewed on Sedar.\nThis new project will secure public investment financing of between\n$1,000,000 and $2,500,000. A portion of this amount will be designated to the\ndevelopment of this new acquisition, and the balance of the funds will become\npart of the Company's working capital for other eventual acquisition(s).\n\nSection Rouge MDedia inc. is a Company registered with the growth stock\nexchange (TSX) and publishes approximately thirty periodicals.\n\...