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iMALL Posts $3.6 Million Loss
Published by: mike 2010-03-18

Santa Monica, CA-based e-commerce company iMALL Inc. reported a loss from continuing operations for the period ending March 31 of $3.68 million, or $0.28 per share, compared to a loss from continuing operations of $1.24 million, or $0.22 per share in the same quarter last year.

Revenues from continuing operations for quarter were $778,700, up from $222,200 for the same period in 1998.

The company also reported income during the quarter from discontinued operations of $78,900, or $0.01 per share, compared to income of $25,600, or $0.00 per share, from discontinued operations for the same quarter last year.

The net loss for the quarter was $3,608,100, or $0.27 per share, on 13,902,672 weighted average shares outstanding, compared to a net loss of $1,219,000, or $0.22 per share, on 7,652,494 weighted average shares outstanding for the comparable quarter last year.

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"These results are consistent with external expectations and our internal plans," said Richard Rosenblatt, iMALL's chairman and chief executive officer. "As we stated on our year-end conference call, our objective for the first half of the year was to position iMALL for solid growth and long-term success by focusing on the completion of our next generation of technology and forming strategic partnerships. . .We believe that we made excellent progress toward that goal so far this year."

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