Light Media Reports Q4-2012 Results
February 12 2013 - 7:35AM
OTC Markets
Light Media Reports Q4-2012 Results
ATLANTA, GA--(February 12, 2013 – GlobeNewsWire)
- Light Media (OTC Markets: LGMH), Inspirational Media
Specialist, announced today its results for the fiscal
year-end period December 31, 2012, as follows:
* Revenues were $14,306 as of December
31, 2012 versus $17,837 for the quarterly period ending September 30, 2012.
* Cost of sales were $1,658 as
of December 31, 2012 versus $2,987 for the quarterly
period ending September 30, 2012.
* Selling, general and administrative
expenses were $12,914
as
of December 31, 2012 versus
$14,265
for the quarterly period ending September 30, 2012.
3 Key Milestones in Q4-2012:
-
Closed
Agreement to Divest Power 105.5 FM Terrestrial Radio
property.
-
Repurchased
11,000 common shares in open market transactions, at an average
price of
$0.0176/share, leaving an available stock repurchase amount of
2,239,000
shares, via previously-announced Stock Repurchase Program.
-
Attained
Android App Developer Certification (Complementing Existing iTunes
App
Developer License), covering 89% of the smart device
market.
-
“Exiting
2012, all friends and supporters of Light
Media can continue to rest-at-ease, regardless of the global
macroeconomic
climate, knowing that all key corporate assets remain intact (free
and clear)
and unbound and unrestrained by secured indentures and remain
strategically
positioned for long-term opportunity and growth. Entering 2013,
Light Media
remains patiently focused having persevered through the Great
Recession as a
leaner and more agile multimedia conglomerate after 36 consecutive
months of
carefully targeted cost-cutting measures, strategic
investments/reinvestments
and realignments of business units and priorities, simultaneously
while
broadening and deepening media platform and distribution
expertise. Light Media
continues to alter the paradigm one-day-at-a-time,
as the Inspirational Media Specialist, and there is more Good News
to come,”
said Danny Wilson, CEO, Light Media. Ps.
112:6-8.
About Light Media:
Light Media (OTC Markets: LGMH), Inspirational Media Specialist,
markets, produces
and distributes inspirational music, video, video games, print
media and
entertainment in the Inspirational Media space through its network
of radio,
Internet, television, print and special events global business
platforms and
marketing and alliance partners. Light Media is also the
20th
publicly-traded multimedia conglomerate in the United
States. For more
information, please visit: www.LGMH.com;
www.LightMediaHoldings.com;
www.InvaluableMedia.com
or www.HotChristianStocks.com.
Cautionary Note Regarding
Forward-Looking Statements:
This press release contains statements, which may constitute
"forward-looking
statements" within the meaning of the Securities Act of 1933 and
the
Securities Exchange Act of 1934, as amended by the Private
Securities
Litigation Reform Act of 1995. Those statements include
statements
regarding the intent, belief or current expectations of Light Media
(OTC:
“LGMH”) and members of its management as well as the assumptions on
which such
statements are based. Prospective investors are cautioned
that any such
forward-looking statements are not guarantees of future performance
and involve
risks and uncertainties, and that actual results may differ
materially from
those contemplated by such forward-looking statements.
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