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Media 100 Reports Fourth Quarter and Year End 2001 Results

Net Sales down nearly $6 million from last year (January 10, 2002)
Media 100 Inc. has reported financial results for its fourth quarter and year ending November 30, 2001.

Net sales from continuing operations for the fourth quarter were $5.8 million, versus $11.4 million in the fourth quarter of fiscal 2000. On a pro forma basis, excluding charges and a tax benefit, the Company reported a net loss from continuing operations for the fourth quarter of $2.9 million, or $0.23 per share, versus a net loss from continuing operations of $3.2 or $0.26 per share, in the fourth quarter of 2000. Including the charges and a tax benefit, the Company reported a net loss from continuing operations of $0.4 million, or $0.03 per share, versus a net loss of $4.3 million, or $0.35 per share, in the fourth quarter of 2000.


Net sales from continuing operations for the fiscal year ending November 30, 2001 were $31.2 million, versus $47.2 million during fiscal 2000. On a pro forma basis, excluding charges and a tax benefit, the Company reported a net loss from continuing operations for fiscal 2001 of $12.7 million, or $1.03 per share, versus a net loss of $3.6 million, or $0.30 per share, in fiscal 2000. Including the charges and a tax benefit, the Company reported a net loss from continuing operations of $13.6 million, or $1.10 per share, versus a net loss of $5.8 million, or $0.49 per share, in fiscal 2000.

The Company will host a conference call today at 9:00 a.m. EST to highlight details of its financial results, as well as provide insight into the future direction and strategy of the Company. Additionally, the Company will host a live audio Webcast of the announcement, available at www.media100.com.

John Molinari, president and chief executive officer of Media 100 said, "With the sale of our streaming software business to Autodesk, we have repositioned the Company to launch a major new breakthrough product. This effort represents a new mission for the Company that we believe gives us a fresh opportunity for success. With approximately $20 million in cash and no debt, we have the means to be aggressive and succeed in the coming year."

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Related Keywords:Media 100, pegasus, cleaner, autodesk, john molinari, sales, editing, post production

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