August 18, 2011
Private Media Group Reports On Second Quarter 2011 Results
Barcelona, Spain: Private Media Group, Inc. (Nasdaq: PRVT) an international adult entertainment Corporation, based in Barcelona, Spain announced financial results for the three-month period ended June 30, 2011. With income of $6.7M, and cost of sales $4.5M, the gross profit was $2.2M. Selling, general and administrative expenses of $3.9M resulted in a net loss of $1.7M. The Maleflixxx Mobile operator attributed the loss to a reduction in sales from their Gay content division, and a 13% reduction in the average US dollar exchange rate, compared to the same period one year ago.