|
 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| About Us | Press Releases | August 27, 2001 |
|
artnet Reduces Net Loss by Half Announcement in accordance with paragraph 15 of German Securities Law (WpHG) New York/Frankfurt, August 27, 2001 - artnet, the leading web site for art information and art market communication, announces an increase in sales as monthly costs decrease for the first half ended June 30th, 2001. Revenue reached $ 2,916,283 for the 6 months, an increase of 37% over the first half 2000 level of $2,127,764. Operating expenses were $6,956,929 in the six months, down from $8,087,139 in the first half of 2000. Operating expenses for the period include a one time charge for hardware, software and website development expenses as well as a further reserve for accounts receivable. The net loss amounts to $4,024,558 compared to $8,449,905 in the first half of 2000. With the write-offs and reserves effected in this half, artnets restructuring costs are substantially reflected, and the company can now look to the future without significant further adjustments. Note: The full text of the first quarter report is available on the web site of neuermarkt.com and www. artnet Contact: Hans Neuendorf Chief Executive Officer 61 Broadway, 23rd Floor New York, NY 10006 Tel: 001-212-497-9700 x638 Fax: (1) 212-497-9707 |
|
|
|
|
|
|
|
©2009 artnet - The art world online. All rights reserved. artnet is a registered trademark of artnet Worldwide Corporation, New York, NY. | |
||
