As Seen On TV, the parent company of direct response marketing company TV Goods, today reported third-quarter results reflecting the company's increased product commercialization and growth strategies.
The company achieved record revenues of $5.8 million, an increase of 124 percent compared to revenues of $2.6 million in the comparable quarter of 2011.
ASTV reported a quarterly loss of $15.1 million, or $0.38 per share, compared to net income of $2.25 million, or $0.09 per share, a year earlier.
Third-quarter gross profit margin was 52 percent, up from 46 percent a year earlier.
For the first nine months of fiscal year 2012 ended December 31, 2012, ASTV reported revenues of $6.9 million, an increase of 105 percent over revenues of $3.4 million in for the comparable nine months of the year prior.
The net loss for the nine-month period of 2012 was $13.7 million, or a loss of $0.39 per share, deeper than a loss of $10.2 million, or $0.62 per share, in same nine months of 2011.
Gross profit margin of 44 percent was realized in the first nine months of 2012, up from 43 percent a year earlier.
As previously announced, ASTV has entered into an agreement to acquire eDiets.com, Inc. in a stock transaction. The terms of the agreement provide for the issuance of 19,077,252 shares of ASTV common stock in exchange for 100% of the outstanding shares. The eDiets shareholder meeting called to approve the merger is on tap for February 27, 2013.
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