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New Frontier Media swings to profit

from – New Frontier Media Inc., producer and distributor of adult pay-per-view programming, swung to a loss to a profit in its latest fiscal quarter, with the previous-year quarter impacted by impairment charges.

Boulder-based New Frontier Media (NASDAQ: NOOF) reported results for the three months ending Dec. 31, which it regards as its third quarter of fiscal year 2010.

The company posted quarterly net income of $1.505 million, or 8 cents a share, versus a net loss of $8.853 million, or 42 cents a share, in the same quarter a year earlier.

Revenue dipped slightly on the quarter, to $11.547 million from $12.619 million the previous year.

The company posted $11.1 million of non-cash goodwill and film-cost impairment charges in the year-ago quarter. Without those charges, total operating expenses dipped to $6.175 million in the most recent quarter from $17.708 million a year earlier.

“We believe the company’s strategic execution and ability to leverage its technological infrastructure with new and upcoming platforms will provide steady long-term growth,” CEO Michael Weiner said in a statement.


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