BDE Continues to Bleed
Created 04/02/2001 - 23:00
files/pictures/picture-23.jpgBrilliant Digital Entertainment Inc., a developer of 3D rich media content creation, distribution and ad services technologies for the Internet, announced continued losses for the fourth quarter and fiscal year ended Dec 31, 2000. The company reported a net loss from continuing operations of $9,208,000, or $0.62 per share, for the year ended Dec. 31, 2000, compared with a net loss from continuing operations of $9,108,000, or $0.81 per share for 1999. Net revenues for 2000 from continuing operations rose 86% to $1,030,000 from $555,000 in fiscal 1999. For the fiscal 2000 fourth quarter, Brilliant Digital reported a net loss from continuing operations of $2,690,000, or $0.17 per share, compared with a net loss from continuing operations of $2,815,000, or $0.22 per share, for the same period a year ago. Kevin Bermeister, president of Brilliant Digital, commented that "2000 proved to be a challenging year for us and the entire Internet community given the fluctuations in the financial markets. The result of this was an urgent focus on profitability leading to aggressive cost cutting through non-essential employee downsizing and other cost-cutting measures. These initiatives are contributing to a substantial decrease in our operating costs." According to Burmeister, the company believes their animation 3D banner advertisements will provide substantial revenues through campaign sales to advertisers and licensing of the Brilliant Banner ad serving technology. In addition, the company recently launched the Gold version of their b3d Studio tool suite, which is used to create 3D animation for distribution on the Internet. The company also plans to continue focusing on production of animated music videos and other third party funded content. They have previously produced 3D digitally animated interactive titles featuring popular characters and music artists that include Ja Rule,, Ludacris, Superman, Xena, KISS and Ace Ventura.