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Friday, November 20, 2009 5:51:56 AM
Mitch Francis, CEO of Tix Corporation
Revenue from the Company's premium ticketing division, Tix4AnyEvent, was $26,000 compared to $336,000 in the prior year comparable period. The $310,000 decline in revenues is primarily the result of an overall decline in demand for premium tickets due to the poor economic environment nationally, which has led to a decline in discretionary spending.
“Tutankhamun and The Golden Age of the Pharaohs” and “Tutankhamun the Golden King and the Great Pharaohs” are currently booked in museums through July 2011 and December 2012, respectively. During the third quarter of 2009, although there was a 46% increase in attendance to the exhibits, there was a 35% decrease in revenue per attendee. The decline in revenues per attendee is the result of generally poor economic conditions, as well as a competing store at one of the exhibit locations, which management believes resulted in a $134,000 decline in revenues, which has been partially offset by a renegotiation of terms.
Tix Productions (TPI), which produces and presents live entertainment events, recorded a decline in revenue of 6% to $2.5 million for the third quarter, compared to the prior year period. Operating loss for the quarter was $(818,000) compared to $(500,000) in the prior year period. The decrease in revenue was due to several factors including..............
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