New Frontier Media Sees Growth in International Sales
BOULDER, Colo. — New Frontier Media Inc., which improved its performance in the fourth quarter and fiscal year but still lost money in a report Friday to the Securities and Exchange Commission, says its international sector's footprint is growing.
New Frontier reported a net loss of $1.34 million in the quarter and a loss of $769,000, during its 2010-11 fiscal year, which ended March 31. The company lost nearly $5.08 million in the same quarter of 2010 and $1.74 million in the 2009-10 fiscal year. Revenue for the fiscal year was $48.7 million, down from $50.4 million the prior year.
In a conference call on Friday, New Frontier CEO Michael Weiner emphasized the company's achievement of strategic goals, including its focus on international sales and power, in the past year.
"We have increased our global distribution footprint, which we believe will fuel growth in years to come," he said. "Within the transactional TV segment we grew our international revenue from $3.6 million in fiscal 2010 to $5.9 million in fiscal 2011 and significantly expanded our international footprint.
"We expect this new distribution pipeline to fuel our growth for the coming future," he said. "We also strengthened our operations in anticipation of expanded international distribution by launching new pay-per-view channels, acquiring additional worldwide content rights and supporting our business development and sales force."
Weiner also noted that the Boulder, Colo.-based company invested in digital storage and distribution equipment, as well as a new state-of-the-art facility.
"These investments are included in the $5 million of property and equipment purchases reflected in our fiscal 2011 cash flows."
New Frontier Media operates numerous adult pay-per-view services, including The Erotic Network, or TEN, as well as adult websites.