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FortuneCity.com Inc. english
FortuneCity.com Inc. Q2 2003
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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FortuneCity.com Inc. Q2 2003
New York, August 29, 2003 FortuneCity.com Inc. (FortuneCity) announced today
operating and financial results for the first six months of 2003.
The first half of 2003 continued to show steadily improving financial results.
The moderate growth of revenues combined with ongoing expense controls and new
operating efficiencies reduced the net loss 59%, before restructuring and
impairment charges.
The net loss per share was $0.03 for the second quarter of 2003, compared to
$0.19 in the same period in 2002. The net loss, without restructuring and
impairment charges, was reduced by 59% from $ 5.1 million 1H 2002 to $ 2.1
million in 1H 2003.
The Q2 2003 revenues increased 17% to $937,813 compared to $800,146 in Q1 2003.
Revenues were derived from advertising sales (82%) and paid web services (18%).
The first half 2003 operating expenses reduced 45% compared to the same period
in 2002 from $ 4.4 million to $ 2.4 million.
The total cash burn was US$490,000 in Q2 2003 and US$945,000 in Q1 2003.
end of ad-hoc-announcement (c)DGAP 29.08.2003
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WKN: 919383; ISIN: US34969P1021; Index:
Listed: Geregelter Markt in Frankfurt (General Standard); Freiverkehr in
Düsseldorf, Hannover und Stuttgart
290809 Aug 03
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