Atrinsic, the company formerly known as New Motion (OTCBB: NWMO) which publishes digital music, casual games, sweepstakes, etc., reported higher Q4 and year-end results today based on strong subscriber growth. Fourth-quarter revenues totaled $13.9 million, jumping 126 percent from $6.2 million in the year ago period. For the year, revenues totaled $37 million, nearly doubling from $18.7 million compared to 2006. At the end of the year, the company had more than 825,000 paying subscribers, increasing from 750,000 in the prior quarter. Release.
The growth didn’t stem the losses. In Q4, the net loss was about $900,000, widening from a net loss of $0.4 million in the same period a year ago. For the full year, the company recorded a profit of $677,000, turning around from a loss of $4.1 million in 2006. The results didn’t reflect the merger with Traffix, which was completed Feb. 4.
The company said first-quarter revenues are expected to as much as $37 million on a pro forma basis, and for the year, it is reiterating their expectation of hitting up to $160 million in sales and adjusted EBITDA in the range to $15 to $20 million.
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