April 03, 2001 05:58am
Private Media Group, Inc. Anticipates Increase in Net Sales And Net Income for Fiscal 2000 vs 1999
Source: Private Media Group Inc.
by: Company Press Release
(BARCELONA, Spain) -- Private Media Group Inc. (Nasdaq: PRVT - news), worldwide leader in premium-quality, adult entertainment products, services and Internet content, today announced that it has filed with the Securities and Exchange Commission (SEC) for a 15-day extension of the April 2, 2001, deadline for filing its Annual Report on Form 10-KSB. The Company intends to complete its filing as soon as possible, but in no event later than fifteen days from the original due date for its 2000 Form 10-KSB.
The Company anticipates a substantial increase in net sales and net income for Fiscal 2000 as compared to the prior fiscal year. The increase in net sales and net income is mainly attributable to the growth in the New Media Division, where sales from Broadcasting, DVD and Internet has increased dramatically and the margins are significantly higher.
Berth Milton, CEO of Private Media Group, remarked, ``In a market where new media businesses have been presenting negative profit warnings, we are delighted to break the trend by being able to present strong and positive figures compared to fiscal 1999 to the shareholders in our 2000 annual report soon to be published.''
The leading, publicly traded adult entertainment company in the world, Private Media Group Inc. is the founder of the globally established brand name ``Private'' and has positioned itself in the marketplace with a visionary management strategy that combines both New Economy (Internet, multimedia, e-commerce) and Old Economy (videos, magazines) business models. Private maintains a total adult lifestyle philosophy, reflected in the company's broad range of products and services, both proprietary and licensed, and its strategic policies of development, diversification and acquisition.
For more information about Private Media Group, please visit the Company's corporate Web site at www.prvt.com.
This release contains, in addition to historical information, forward- looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the company's current judgments of those issues. However, because these statements are forward-looking and apply to future events, they are subject to unpredictable circumstances, which could lead to results materially different from those anticipated by the company.
For further information, please contact: In Barcelona: Andre F. Ribeiro of Private Media Group Inc., +34-679-983-772, andre@private.com
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