NTN Boosts Revenues5/10/2005 7:02 AM Eastern
NTN Communications Inc. posted a 7.5% increase in first-quarter revenues to $9.51 million versus $8.84 million a year earlier, but its net loss rose slightly, from $1.29 million to $1.35 million, based on losses at NTN Hospitality Technologies and Buzztime Entertainment Inc.
NTN said Buzztime revenue jumped from $43,000 in the first quarter of 2004 to $294,000 in the first quarter of 2005, including $188,000 that came from a trial agreement with Comcast Corp. and $40,000 from its deals with direct-broadcast satellite and wireless-phone providers. Still, Buzztime lowered its net loss from $982,000 to $663,000 in the quarter.
NTN chairman and CEO Stanley Kinsey was upbeat, saying in a release that he was "very pleased with the positive long-term trends of the operations. In Buzztime, our revenues and relationships with cable operators strengthened, while we increased licensing revenues from satellite and mobile markets."