Media 100 returned a net loss of $2.3 million for its third quarter 2002 yesterday.
Net sales for the quarter were $5.4 million, against $7.8 million in the year-ago quarter. The $2.3 million loss is an improvement on the year ago quarter, when the company lost $4.1 million. When expenses, restructuring charges, and amortization are subtracted from Media 100’s $2.3 million loss, operational losses amount to $1.7 million.
John Molinari, president and CEO of the company, said: “Our third quarter was highlighted by a significant increase in our sell-through of 844/x solutions worldwide.”
The company aims to maintain its focus on 844/x, its broadcast-quality compositing and editing solution. Media 100 expanded that product’s user base by 193 per cent during the quarter.
The company anticipates net sales to be approximately $5 million in its upcoming fourth quarter.