First half 2009 revenues plummeted to US$18 million, compared with the US$142 million recorded in the first half of 2008. That is a drop of 87%.  Management attributed this huge drop to XFL’s much reduced size in 2009. In the past year, the company has sold most of the subsidiaries which were previously key sources of revenues.

XFL posted a net loss of US$19 million compared with a US$38 million loss recorded in the first half of 2008. On a proforma basis (which excludes non-cash and one-time charges), the company’s net loss was US$5.0 million compared with a net profit of US$1.9 million in the first half of 2008.

XFL also released its full year forecast. Management expects revenues to be US$33 million with a net loss of US$29 million for the fiscal year 2009. For the fiscal year 2008, revenues were US$279 million with a net loss of US$268 million.  Source: Xinhua Finance

BIIA Newsletter October – 2009 Issue