Onstream Media (ONSM) Reports a Q1 Loss, CEO Comments on Outlook
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Onstream Media Corporation (Nasdaq: ONSM) reports a Q1 loss of $0.05 compared to a loss of $0.29 for the same period last year.
Revenue for the quarter was approximately $4.3 million, an increase of 107.5% from approximately $2.1 million for the second quarter of the prior fiscal year.
"We have built upon our record first quarter results and delivered top-line growth and continued narrowing of our losses in fiscal 2008, versus fiscal 2007," CEO concluded. "We again reiterate our expectation of 40% top-line growth for the full fiscal year results and continue to believe we will experience continued reductions in our non-cash net loss for the remainder of fiscal 2008, versus fiscal 2007."[SM]
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