what do you think shao?eleases Earnings Date: 8/21/01 8:26:46 PM Eastern Daylight Time From: investnewswire@utarget.sparklist.com (Invest Newswire) Reply-to: investnewswire@hotmail.com (Invest Newswire) To: investnewswire@utarget.sparklist.com (InvestNewswire)
Click here for more information on F2 Broadcast Network http://www.investnewswire.com/info.php?entry_id=8 *************************** Company: F2 Broadcast Network Inc. Web: http://www.f2sports.com Contact: Charles T. Tamburello Phone: 509-461-5818 Email:chuck@TheSubway.com **************************** FORT LAUDERDALE, Fla.--Aug. 21, 2001--F2 Broadcast Network Inc. (OTCBB:FTWB) announced today that expected revenue for the quarter ending 6/30/2001 will be approximately $555,000, almost three times the previous quarter. The gross profit for the quarter was in excess of $200,000, nearly double the gross profit in the previous quarter. The form 10QSB is in the auditor's hands for review and is expected to be filed this week.
"Revenue for the second quarter of this year is $555,000 as compared to a little more than $101,000 in the same period last year," said Howard Stern, CEO of F2 Broadcast. "Revenue for the first quarter of 2001 was $140,118. This remarkable improvement is attributed to an increase in advertising and production revenue and a significant decrease in costs."
Cost of sales for the second quarter last year was $1,629,000, and is now reduced to $158,000; General and Administrative costs which were reported as $1,493,000 for the same period last year was improved to $640,000. While the company shows a net loss for the second quarter of about $150,000 it is a significant improvement over the $644,000 of the previous quarter.
Advertising relationships with Titleist, Allegra, and Celebrex have added significant revenues to the company's bottom line. "With the revenue on the upswing and the launch of the new F2 Digital Content Manager we are right on target to meet our projected profitability for the third quarter," said Stern.
About F2 Broadcast
F2 Broadcast Network is a provider of Internet video production services specializing in the creation of turnkey solutions for live, on demand, and archived convergent media. F2 Broadcast delivers content via both high-speed Internet access and satellite uplink. With satellite downlink facility in Ft. Lauderdale, Florida, F2 Broadcast is uniquely positioned to successfully produce and stream content from any location and deliver it to the World Wide Web. F2 Broadcast Network is the Internet Video Production Partner of PGA TOUR.com and their work can be seen at http://www.pgatour.com.
Note: Certain statements herein that are not historical are forward-looking statements, which involve risks and uncertainties. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which the forward-looking statements are based are reasonable, it can give no assurances that such expectations and assumptions will prove to have been correct. See the Company's Quarterly Report on Form 10-QSB/A1 for the period ended September 30, 1999 and its Forms 8-K reporting events occurring on December 20, 2000 and January 5, 2001, for additional statements concerning important factors that could cause actual results to differ materially from the Company's expectations, including factors related to the Company's financial condition and the uncertainty of its ability to satisfy its operating expenses until revenues from the sale of certain assets, or from any other source or sources, become available.
For Information, or a complete F2 Broadcast Media Kit please contact: F2 Broadcast 1-954-736-1800 ask for Robert Fuchs or Howard Stern.
Contact:
*************************** Company: F2 Broadcast Network Inc. Web: http://www.f2sports.com Contact: Charles T. Tamburello Phone: 509-461-5818 Email:chuck@TheSubway.com ****************************
DISCLAIMER: InvestNewswire was paid a total of eight hundred USD by Capital Research Group, Inc for distribution of this email. The words contained within this email are those of F2 Broadcast Network Inc. and not InvestNewswire. InvestNewswire and its employees and officers do not own stock in F2 Broadcast Network Inc. This notice shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Please check with your broker or with the company to determine whether these securities may be purchased or sold in your state of residence prior to effecting a transaction.
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<HR align=left width="60%" color=#2B52A9 noShade SIZE=1> FORT LAUDERDALE, Fla.--Aug. 21, 2001--F2 Broadcast Network Inc. (OTCBB:FTWB) announced today that expected revenue for the quarter ending 6/30/2001 will be approximately $555,000, almost three times the previous quarter. The gross profit for the quarter was in excess of $200,000, nearly double the gross profit in the previous quarter. The form 10QSB isin the auditor's hands for review and is expected to be filed this week. "Revenue for the second quarter of this year is $555,000 as compared to a little more than $101,000 in the same period last year," said Howard Stern, CEO of F2 Broadcast. "Revenue for the first quarter of 2001 was $140,118. This remarkable improvement is attributed to an increase in advertising and production revenue and a significant decrease in costs." Cost of sales for the second quarter last year was $1,629,000, and is now reduced to $158,000; General and Administrative costs which were reported as $1,493,000 for the same period last year was improved to $640,000. While the company shows a net loss for the second quarter of about $150,000 it is a significant improvement over the $644,000 of the previousquarter. Advertising relationships with Titleist, Allegra, and Celebrex have added significant revenues to the company's bottom line. "With the revenue on the upswing and the launch of the new F2 Digital Content Manager we are right on target to meet our projected profitability for the thirdquarter," said Stern. About F2 Broadcast F2 Broadcast Network is a provider of Internet video production services specializing in the creation of turnkey solutions for live, on demand, and archived convergent media. F2 Broadcast delivers content via both high-speed Internet access and satellite uplink. With satellite downlink facility in Ft. Lauderdale, Florida, F2 Broadcast is uniquely positioned to successfully produce and stream content from any location and deliver it to the World Wide Web. F2 Broadcast Network is the Internet Video Production Partner of PGA TOUR.com and their work can be seen athttp://www.pgatour.com. Note: Certain statements herein that are not historical are forward-looking statements, which involve risks and uncertainties. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which the forward-looking statements are based are reasonable, it can give no assurances that such expectations and assumptions will prove to have been correct. See the Company's Quarterly Report on Form 10-QSB/A1 for the period ended September 30, 1999 and its Forms 8-K reporting events occurring on December 20, 2000 and January 5, 2001, for additional statements concerning important factors that could cause actual results to differ materially from the Company's expectations, including factors related to the Company's financial condition and the uncertainty of its ability to satisfy its operating expenses until revenues from the sale of certain assets, or from any other source or sources, become available. For Information, or a complete F2 Broadcast Media Kit please contact: F2Broadcast 1-954-736-1800 ask for Robert Fuchs or Howard Stern. <HR align=left width="100%" color=#2B52A9 noShade SIZE=1> Contact: Charles T. Tamburello Phone: 509/461-5818 Email:chuck@TheSubway.com
DISCLAIMER: InvestNewswire was paid a total of eight hundred USD by Capital Research Group, Inc for distribution of this email. The words contained within this email are those of F2 Broadcast Network Inc. and not InvestNewswire. InvestNewswire and its employees and officers do not own stock in F2 Broadcast Network Inc. This notice shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Please check with your broker or with the company to determine whether these securities may be purchased or sold in your state of residence prior to effecting atransaction. </td></tr></table></td></tr></table></center></td> <td width="10%" align="center"> <img src="http://www.investnewswire.com/html/images/spacer.gif" width="1" height="1" border="0" alt=""> </td></tr></table>
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