Business
Network Entertainment Announces Record 2015 Year-End and Q4 Results
(via Thenewswire.ca) Vancouver, Canada / TheNewswire / March 23, 2016 - Network Media ...
About this update from Network Media Group Inc.
[{"type":"text","content":"Network Entertainment Announces Record 2015 Year-End and Q4 Results(via Thenewswire.ca)\n\n \nVancouver, Canada / TheNewswire / March 23, 2016 - Network Media Group Inc. (\"Network\" or \"the Company\") (TSX: NTE.V) is pleased to announce record-breaking revenues of over $2.15 million from the operations of its subsidiary, Network Entertainment Inc., during the year-ended November 30, 2015 (\"Fiscal 2015\"). \n\n \n \nNetwork reports today the financial results for its fourth quarter ended November 30, 2015 (\"Q4 2015\") and Fiscal 2015, which include the following highlights: \n\n \n \n-Revenues up 150% for Fiscal 2015 to $2,187,601\n\n\n \n-Revenues up 350% for Q4 2015 to $1,627,000\n\n\n \n-Income increased by over $220,000 for Fiscal 2015, to $100,456 \n\n\n \n-Income of $484,866 ($0.01 per share) for Q4 2015, up over eight-fold from fourth quarter 2014 \n\n\n \nThe Company's consolidated financial statements for November 30, 2015 and 2014, are available on www.sedar.com under the Company's profile. \n\n\n \nThe improved results are directly attributable to the increased levels of production that Network has experienced over the year. It released two icon documentaries, I Am Chris Farley and I Am Johnny Cash, and commenced production on three other projects during the year, including a six part docu-series. The critical acclaim received for the Company's recent films translated into strong online and video-on-demand sales during the year, in turn bolstering revenues for the year.\n\n\n \nExecutive Chairman Robert Pirooz commented, \"This has been a turn-around year for the Company, as our results show. 2015 exceeded our expectations and beat the projections we provided in our press release on January 7, 2016. Derik Murray and his team have worked extremely hard this year to make the Company profitable and 2016 is poised to be a year with far more success.\"\n\n\n \nCEO Derik Murray quotes, \"We are proud of our performance this year. Everyone from the Board of Directors to every level of our team has pulled together to make this Network's best year on record. We are experiencing tremendous momentum in the marketplace with the ongoing support of premium industry partners and are devoting our full efforts toward delivering a strong slate of properties for the year ahead.\" \n\n\n \nA more detailed analysis of the other compone...