National Lampoon Announces 2008 Fiscal Fourth Quarter and Year End Results
11 Noviembre 2008 - 8:00AM
PR Newswire (US)
REVENUES INCREASE OVER 1900% FOR FOURTH QUARTER LOS ANGELES, Nov.
11 /PRNewswire-FirstCall/ -- National Lampoon, Inc. (AMEX:NLN), the
leading brand in comedy, today released its fiscal fourth quarter
and full year 2008 financial results for its fiscal year ending
July 31, 2008. For the quarter ending July 31, 2008 the company
reported revenues of $3,491,253, as compared to $167,987 for the
comparable quarter ended July 31, 2007, an increase of
approximately 1980%, along with a net profit of $231,575 as
compared with a net loss of $1,333,500 for the prior comparable
quarter. The results for the period also includes non-cash costs
associated with accrued preferred stock dividends and option
grants, along with costs associated with the growth of the
company's Internet and film production initiatives. For the full
year ending July 31, 2008, the company reported revenues of
$7,437,984, as compared to $6,099,065 for the year ended July 31,
2007 and a net loss of $1,686,974 or ($0.39) per fully diluted
share as compared with a net loss of $2,504,170 or ($0.49) per
fully diluted share for the prior fiscal year. The 2007 results
also included a substantial one-time gain based on a settlement
with Universal Studios, while no such revenues were recognized in
2008. The decrease in net loss was primarily due to the significant
increase in revenues from distribution along with increases in
production revenues. The net loss for the twelve-month period also
includes non-cash costs associated with accrued preferred stock
dividends and option grants, along with costs associated with the
growth of the company's Internet and film production initiatives.
The company also plans to expand its ongoing overhead reduction
plan as a result of a company-wide initiative to reduce recurring
overhead expenses by approximately 20%. These expected savings
consist of reduction of expenses relating to employee headcount and
compensation, professional fees, insurance, and general overhead
expenses. "In these challenging times, this has been an exciting
second half of the year for National Lampoon. In addition to
reaching our first net profit in the third quarter of this year, we
were actually able to improve on that achievement in the most
recent quarter. We have spent substantial time and energy building
and growing our revenue base and business, and it's great to
finally see the economic benefit of both on a going forward basis,"
noted company Chief Executive Officer Daniel S. Laikin. "While we
are dealing with very challenging economic conditions, we are
encouraged going into 2009. We continue to acquire and produce
films to run through our distribution platforms, as well as grow
our library of online properties and advertiser base, all of which
contribute to our revenue growth. We are very proud of our progress
and what we have built and are cautiously optimistic about our
business going into 2009. We have a great team throughout the
company and everyone is committed to build upon our revenue and
profitability and improve shareholder value," Laikin added. Some of
the company highlights in 2008 include: -- Reached net
profitability for the second half of 2008 -- Completed audit of
"Vacation" franchise and currently in negotiations with Warner
Bros. -- Delivery of our first in-house feature film, "National
Lampoon's Bag Boy" -- Completed production on "National Lampoon's
Ratko: The Dictator's Son" -- Started production of "National
Lampoon's Legend of Awesomest Maximus" -- Feature film output deals
in VOD/PPV -- Expanded International film sales in multiple
territories -- National Lampoon Humor Network remains the most
trafficked humor sites on the Internet -- Successful and profitable
launch of the new National Lampoon Lemmings troupe -- Launch of
National Lampoon audio label -- Launch of the National Lampoon ZAZ
Network About National Lampoon National Lampoon, Inc. (AMEX:NLN)
has been a dominant force in the US comedy world for almost 40
years, and is currently active in a broad array of media and
entertainment segments. These include feature films, television
programming, online and interactive entertainment, home video,
audio, and book publishing. The Company also owns interests in all
major National Lampoon properties, including National Lampoon's
Animal House, the National Lampoon Vacation series and National
Lampoon's Van Wilder. National Lampoon reaches nearly one in four
of all 18- to 24-year-old college students in America today. The
Company has three core operating divisions: National Lampoon Films,
which includes production along with theatrical and video
distribution of feature films; College Marketing Division; and
National Lampoon Networks, providing humor content through a number
of platforms. These include its National Lampoon College TV
network, the National Lampoon Humor Network -- the most trafficked
humor sites on the web, Toga TV.com -- the company's broadband
channel, the Drunk University Network, and the National Lampoon
Video Network, which includes channels on YouTube, AOL, Yahoo,
Joost, and a number of digital video platforms across the Internet.
These are all anchored by the award- winning comedy website
http://www.nationallampoon.com/. DATASOURCE: National Lampoon, Inc.
CONTACT: Marcy Goot of NATIONAL LAMPOON, +1-310-474-5252, ; or IR
Contact, Howard Gostfrand or David Sasso, both for National
Lampoon, Inc., +1-305-918-7000, Web site:
http://www.nationallampoon.com/
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