Juniper Content Reports 3Q 2008 Results
Juniper Content, a media and entertainment company, announced its financial results for the quarter ended September 30.
Juniper Content reported that net sales for the third quarter of 2008 grew 8 percent to $675,764 as compared to net sales of $628,273 for the third quarter of 2007. Net loss for the quarter ended September 30, was $2.12 million, or $(0.38) per share, as compared to a net loss of $1.49 million, or $(0.27) per share for the quarter ended September 30, 2007. The increased loss was due primarily to a reduction in the benefit from income taxes of $604,348 and an increase in depreciation and amortization expense of $258,993 offset by a reduction in selling, general and administrative expenses of $405,136.
Sorpresa!, the Company's 24/7 Spanish-language children's television network and digital community, had approximately 1.171 million subscribers as of August 31, the most recently reported data, a gain of 25 percent from August 2007. During the quarter, Sorpresa! experienced growth both in existing cable systems as well as new launches on more than 10 systems, including Austin, TX, San Francisco, CA, and Tampa, FL, for an average monthly subscriber growth rate of 2 percent. At the end of September 2008, however, Sorpresa! was moved from basic carriage to the Hispanic Tier in communities in Dayton and Kettering, Ohio, resulting in a reduction of approximately 145,000 subscribers, based on preliminary estimates.
Sorpresa! is generally carried on Hispanic Tiers across America, and the cable operator in these systems concluded that the population of Hispanics in these two specific markets, approximately 1.85 percent, did not support continued digibasic distribution. The company believes that there are no other markets where similar circumstances exist at this time.
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