Audible’s Consumer Content Revenues Increase


Audible’s Consumer Content Revenues Increase 17 Percent: Audible, the subscription spoken word audio provider, has increased its consumer content revenues by 17 percent over Q3 to $3.4 million in Q4. The company also added over 23,000 new customers in the quarter. Audible’s cash and cash equivalents totaled $2.8 million on December 31, 2002. “We achieved this while bringing our cash usage far below stated expectations. This performance means that our need of cash some time in this quarter, as was reported in our 10-Q for the third quarter, 2002 is not the case. Our need for additional cash has been delayed from the first quarter of 2003 to the last half of 2003.”

Following falue to meet Nasdaq’s requirements, the company also announced that it will move to the OTB BB by mid of this month. To lisen to company’s archived conference call, click here.

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