Mumbai, 8th May: Infomedia 18, a Television Eighteen subsidiary, has announced results for the year ending 31st March 2009. Revenues were US$25 million, a decrease of 14% compared with the first quarter of 2008. Infomedia’s key business units are publishing and print services. Revenues generated from publishing dropped by 16% to US$17 million. Revenues generated from the company’s print services business were US$8.4 million – a decrease of 14% compared with the year before. Overall, Infomedia 18 posted a net loss of US$17 million in the financial year, compared with a loss of just US$1.9 million last year. The company also announced results for the quarter ended 31st March 2009. Revenues were US$6.4 million, a year-on-year decrease of 21%. Infomedia 18’s net loss in the first quarter was US$9.3 million, compared with a net loss of US$434,000 in the first quarter of 2008. Source: Infomedia 18 press release Courtesy Business Strategies Group www.bsgasia.com
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