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GEMS TV Results Announcement FY2009
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katak88
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09-Nov-2009 21:09
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Business Times - 09 Nov 2009 Gems TV narrows Q1 loss as product mix pays off By OH BOON PING Gems TV has narrowed its Q1 loss to US$4.9 million, from a loss of US$13.8 million a year ago thanks to changes in product mix and cost control. Revenue dropped 4 per cent to US$33.18 million for the three months ended Sept 30, 2009, while loss per share came to 0.47 US cents, from 1.34 US cents previously. Gems TV Reduces Quarterly Operating Loss By 65% - Sees Continued Growth In US Market http://info.sgx.com/webcorannc.nsf/AnnouncementToday/E4AFD7EDEF8199124825766900388E38?opendocument FIRST QUARTER FINANCIAL STATEMENT AND DIVIDEND ANNOUNCEMENT http://info.sgx.com/webcorannc.nsf/AnnouncementToday/618E27C2AB7F162C48257669003802F7?opendocument |
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yiewkhong
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01-Jun-2009 13:43
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Go GEMTV Go GEMTV With the recovery of whole economies, GEMTV should be in the black by year end. |
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yiewkhong
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30-May-2009 22:21
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My Warning: Buy and keep for long term. |
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katak88
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11-Feb-2009 22:12
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Business Times - 11 Feb 2009
Gems TV reports US$18.5m loss for Q2 Product revenue drops 42% from US$82m to US$47m By JOYCE HOOI GEMS TV Holdings, a UK-based manufacturer and TV home shopping retailer of coloured gemstone jewellery, announced less-than-sparkling quarterly results yesterday. The mainboard-listed company reported a net loss of US$18.52 million for the second quarter of FY2009 ended Dec 31, 2008, compared to the net profit of US$6.02 million it declared for the same period a year ago. For the first six months to Dec 31, 2008, the group's bottom line slid from a slim net profit of US$420,000 a year ago to a US$32.33 million net loss despite trimming its global workforce by 35 per cent last year. Product revenue declined 42 per cent for Q2 FY2009, from US$82 million to US$47.4 million year on year. For the six months to Dec 31, 2008, year on year, the group saw a 35 per cent decline in product revenue, from US$126.97 million to US$81.95 million. Gems attributes the loss to a 'difficult economic environment' and changes in accounting estimates that had kicked in during the second quarter of FY2008, inflating its gross revenue figures. Adjusted for the accounting changes, year-on-year decrease for its second quarter's total revenue in FY2009 would have been 31 per cent instead of 42 per cent. Gems' United Kingdom market dealt the firm's product revenue the most devastating blow, plunging 55 per cent to US$15.2 million in Q2 FY2009 from US$33.6 million for the same period the preceding financial year. 'The difficulties facing the UK market were compounded by a highly competitive and promotion-driven environment, and the significant depreciation of the pound sterling,' the group said. The group sustained a US$4.5 million foreign exchange loss primarily caused by the pound sterling's depreciation during the quarter. In February last year, the group had launched a new brand identity in the UK in a bid to gain market share. During that same month, a substantial shareholder reduced its stake by 32 per cent at a steep discount from its purchase price. Loss per share for the quarter stood at 1.80 US cents and 3.13 US cents for the financial first half-year, down from earnings per share of 0.58 US cents and 0.04 US cents for the same periods a year ago, respectively. UK market dealt the firm's product revenue the most devastating blow. |
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