Alexandria, VA, February 14, 2005, Comtex News Network, Inc., (OTC BB: CMTX), a leading provider of economically useful electronic real-time news and content, today announced fiscal 2005 second quarter and year-to-date earnings.
For the quarter ended December 31, 2004, the Company reported operating income of $159,000 and net income of $119,000, or $0.01 per share, versus last yearís second quarter operating loss of $708,000 and net loss of $1.03 million, or ($0.08) loss per share. Revenues were $2 million for both periods.
For the six months ended December 31, 2004, the Company reported operating income of $291,000 and net income of $216,000, or $0.01 per share, versus last yearís six month operating loss of $936,000 and net loss of $1.3 million, or ($0.10) loss per share. Revenues for the six months ended December 31, 2004 were $4 million compared to $4.2 million for the same period of fiscal 2004.
Comtex's continued profitability was largely due to decreased operating expenses, particularly in the areas of general / administrative costs and technical operations costs, partially offset by increased sales and marketing expenses ñ and, year-to-date, by decreased revenues. The decline in revenues resulted primarily from continuing consolidation among clients.
C.W. Gilluly, Comtexís Chairman and Interim CEO, stated, \"We are pleased that Comtex reported continued profitability. Our strategic focus remains centered on developing new, economically useful news and information products for our clients.\"
About Comtex
Comtex (www.comtex.com) provides real-time news and economically useful information to businesses whose customers need more than just facts. Comtex customers receive select content from key sources which is further enhanced with stock tickers and an extended lexicon of relevant terms. With a specialization in the financial news and content marketplace, Comtex receives, enhances, combines and filters news and content received from national and international news bureaus, agencies and publications, and distributes more than one million total stories per day. Comtex's state-of-the-art technology delivers this relevant content and reliable service in real-time. Comtex has offices in New York City and Alexandria, Virginia.
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