Facebook Twitter

BROADCAST INTERNATIONAL POSTS NET LOSS OF $277,000 FOR QUARTER

SHARE BROADCAST INTERNATIONAL POSTS NET LOSS OF $277,000 FOR QUARTER

Broadcast International Inc., 7050 S. Union Park Center, a company producing business information for business customers, reports a net loss of $277,000 or five cents per share in the quarter ending June 30 compared with a net loss of $2.8 million or 47 cents per share in the same in the quarter a year ago.

Nicholas Ruitenberg, chief financial officer, said the company had a net loss of $128,000 or two cents per share in the first six months on 1994 compared with a net loss of $3 million or 51 cents per share in the same period a year ago."While our bottom line was adversely affected by the now-resolved proxy matter, we are very pleased with the company's overall performance in the second quarter," said Ruitenberg. "All three of our subsidiaries have continued to build sales momentum and each reported solid gains in operating income."

Services provided by the company's three subsidiaries include satellite-delivered in-store advertising, background music, video conferencing, financial transaction services including credit, check verification and recovery and financial market news and quotes.