Roxio reports fourth quarter and fiscal 2003 results

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Roxio, best known developers of Easy CD/DVD Creator and owner of the assets of Napster has posted it’s finanical results for its fourth quarter and year ended March 31, 2003. Net revenue for the fourth quarter grew 28% sequentially to $ 33.8 million from $ 26.4 million in the preceding third quarter. Pro forma net income, which excludes non-cash charges related to the amortization of intangible assets and deferred stock-based compensation, was $ 3.8 million

Our fourth quarter financial results reflect a solid launch of Easy CD & DVD Creator 6, the Digital Media Suite,” said Chris Gorog, Roxio’s President and Chief Executive Officer. “Other notable achievements include the launch in late March of our PhotoSuite 5 Platinum digital photo editing software and our first major DVD OEM win for Creator 6 on TDK’s new Indi DVD Multiformat burner. With the sale of our GoBack software assets to Symantec, Roxio is now focused exclusively on its core digital media business. Additionally, our recent acquisition of Pressplay, as the foundation for the re-launch of Napster, should allow us to capitalize on the tremendous opportunity in online music and is an important step toward diversifying our revenues for the long-term growth of the company.”

Source: Yahoo.com

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