BAM! Revenues Fall; VIS Acquisition Accepted

Officials from BAM! Entertainment have reported the company’s fiscal third quarter results for the period ended March 31. During this time the company reported net revenues for the fiscal third quarter of $599,000, a decrease of 79% from the same time a year ago. The operating loss for the quarter was $4.1 million and net loss for the quarter was $4.4 million, equivalent to 23 cents per share. In the same quarter of the prior year, the company sustained both an operating loss and net loss of $5.1 million, equivalent to 35 cents per share. At the same time company representatives also announced that the company's offer to acquire VIS entertainment and State of Emergency Development Corporation (the company set up to fund the development of VIS’s State of Emergency 2) had been accepted. Source: PR Newswire