Friday, August 09, 2013

Infomedia Press quarterly revenue drop 100%, faces uncertain future

News this week: India-based media company, Infomedia Press, announced its financial results for the quarter ended 30th June 2013. The company’s revenues in the period were US$333, compared with US$168,000 in the same quarter of 2012, or down 100%. The management attributed the drop to the discontinuation of its printing operation in the previous year.

The operating loss in the quarter was US$29,000, compared with a loss of US$22,000 last year. The net loss for Infomedia in the period was US$169,000, while the net loss in the same period of last year was US$23,000.

Infomedia’s management is currently evaluating various options, including the sale of certain assets of its Printing Press division, along with starting a new line of business in the company. The company also claimed the proposed conditions may cast significant doubt on the company continuing as a going concern.

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