Brazil Interactive Media Reports 2nd Quarter 2013 Financial Results
MIAMI, FL, Aug 16, 2013 (Marketwired via COMTEX) --
Brazil Interactive Media, Inc. (OTCQB: BIMI), a Brazil-based,
interactive TV entertainment, production and broadcasting Company,
today announced its second quarter results for the period ended June
30, 2013, as reported in its most recent Form 10-Q filing.
For the three months ended June 30, 2013, Brazil Interactive Media
reported revenue of $1.93 million and a net loss of ($59,043) vs.
revenue of $1.03 million and a net loss of ($153,758) for the same
period 2012. Total revenue for the six months ended June 30, 2013 was
$4.24 million and net income of $10,834 vs. revenue of $1.96 million
and a net loss of ($163,263) for the same period 2012.
Brazil Interactive Media's CEO Tim Psomiadis stated, "We continue to
experience solid top-line growth as a result of greater distribution
of our programming and increased viewer participation. We experienced
some charges in the second quarter in connection with our public
event which increased our G&A expenses." He added, "We are continuing
to develop alternative platforms for distribution of our programming
which should increase our revenue streams and we hope to report on
the results of our efforts before the end of this year."
About Brazil Interactive Media, Inc.
Brazil Interactive Media, Inc. is a U.S. holding company and the
parent of Brazil Interactive Media Participacoes Ltda., which through
its wholly-owned subsidiary, EsoTV Ltda., combines live television
broadcasts with a telecommunications component to create live,
interactive programming for the Brazilian marketplace. Through its
platform, the Company manages the entire process from concept to
national broadcast and monetizes call traffic generated for
telecommunications providers. For more information, programming and
air times, please visit www.bzinteractive.com.
Forward Looking Statements
This news release contains
"forward-looking statements" which are not purely historical and
include any statements regarding beliefs, plans, expectations or
intentions regarding the future. Such forward-looking statements
include, among other things, the development, costs and results of
new business opportunities. Actual results could differ from those
projected in any forward-looking statements due to numerous factors.
Such factors include, among others, the inherent uncertainties
associated with new projects. These forward-looking statements are
made as of the date of this news release, and we assume no obligation
to update the forward-looking statements, or to update the reasons
why actual results could differ from those projected in the
forward-looking statements. Although we believe that any beliefs,
plans, expectations and intentions contained in this press release
are reasonable, there can be no assurance that any such beliefs,
plans, expectations or intentions will prove to be accurate.
Investors should consult all of the information set forth herein and
should also refer to the risk factors disclosure outlined in our
annual report on Form 10-K for the most recent fiscal year, our
quarterly reports on Form 10-Q and other periodic reports filed from
time-to-time with the Securities and Exchange Commission. For more
information, please visit www.sec.gov.
Brazil Interactive Media, Inc.
Investor Relations Contact:
MZ North America
Direct: (212) 301-7131
SOURCE: Brazil Interactive Media, Inc.
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