Speedus Announces Fourth Quarter and Fiscal 2009 Results
March 31 2010 - 4:20PM
PR Newswire (US)
FREEHOLD, N.J., March 31 /PRNewswire-FirstCall/ -- Speedus Corp.
(Nasdaq: SPDE) today announced a net loss of $2.8 million, or $.72 per share on a fully diluted basis, for the
twelve months ended December 31, 2009
compared to a net loss of $9.2
million, or $2.31 per share on
a fully diluted basis, for the twelve months ended December 31, 2008. The operating loss before
depreciation and amortization for the twelve months ended
December 31, 2009 was $3.5 million compared to an operating loss before
depreciation and amortization of $9.2
million for the twelve months ended December 31, 2008. Of this $5.7 million reduction in operating loss,
$2.5 million is attributable to a
reversal of a 2008 tax withholding provision and $1.3 million is attributable to a charge for 2008
impairments which were not incurred in 2009. The remaining
$1.9 million improvement is primarily
a result of an increase in revenues and a decrease in operating
expenses in 2009 when compared to 2008.
About Speedus Corp.
Speedus Corp. (Nasdaq: SPDE) operates through its two majority
subsidiaries, Zargis Medical Corp. and Density Dynamics, Inc.
Additional information on Speedus Corp. may be obtained at
www.speedus.com or by contacting Peter
Hodge at 888-773-3669 (ext. 23) or phodge@speedus.com.
SOURCE Speedus Corp.
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