News Brief: A21/Superstock releases ’07 results
A21 Group, which owns the stock image licensing business, Superstock and the consumer wall-art business, ArtSelect, released its results for the full year ended 2007 showing improved operating performance in the face of flat revenue. Gross revenue remained relatively flat on an annualized basis for 2007, but gross and operating margins improved, thanks to restructuring initiatives taken in 2007. Despite these efforts, however, the company remains in the red, though losses have declined.
Gross image licensing revenue declined slightly from just under $12MM in ‘06 to $11.9MM in ’07. Revenue from ArtSelect, which A21 purchased in May of 2006, also remained relatively flat on an annualized basis at $11.4MM for ’07. The combined company now derives 49% of its gross revenue from the wall art business and 51% from image licensing.
The company’s stock price now hovers at around $0.01, well below its 52 week high of $0.29.
Click here to view the original press release.
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