Business
Tix Corporation Reports First Quarter 2017 Results
Tix Corporation Reports First Quarter 2017 Results.
About this update from Tix Corporation
[{"type":"text","content":"\n\n STUDIO CITY, CA, May 15, 2017 (GLOBE NEWSWIRE) -- Tix Corporation (the “Company”) (OTCQX:TIXC), a leading provider of discount ticketing services, today reported results for the first quarter ended March 31, 2017.  \n Mitch Francis, Chief Executive Officer of the Company, stated, “Our first quarter performance continued to be negatively impacted by last year’s significant number of permanent show closures and increased aggressive marketing from online ticket brokers, show producers and hotel properties.  Performance was also negatively impacted by the return of a major triannual tradeshow and the Easter holiday being in April of this year compared to March of last year.  We anticipate our future operating results will improve by our continuing to collaborate with Expedia Local Expert on several new programs and by our implementing multiple new growth initiatives this year,” concluded Mr. Francis. First Quarter 2017 Results First quarter 2017 revenues were $4,324,000 as compared with $5,417,000 for the same period a year ago.  Revenues were negatively impacted by last year’s significant number of permanent show closures, increased competition, a large triannual tradeshow, and the timing of the Easter holiday as compared to same period a year ago.     First quarter 2017 direct operating expenses, which includes payroll costs, rents, utilities and third party commission and fees, decreased to $2,439,000 as compared with $2,595,000 for the same period a year ago.  The decrease in direct operating expenses was primarily the result of one less location in operation during the first quarter 2017 as compared with the same period a year ago.        First quarter 2017 selling, general and administrative expenses decreased to $1,904,000 as compared with $1,944,000 for the same period a year ago.            First quarter 2017 net loss was ($58,000), or ($0.00) per diluted common share, as compared with a net income of $488,000, or $0.03 per diluted common share reported for the same period a year ago.  About Tix Corporation Tix Corporation (OTCQX:TIXC) provides discount ticketing services. It currently operates ten discount ticket stores in Las Vegas under its Tix4Tonight ...