Debut Broadcasting Announces Third-Quarter Net Income of $100,326
Continued Progress on Restructuring; Dramatic Reduction in Operating Expenses
NASHVILLE, Tenn., Nov. 16, 2010 /PRNewswire-FirstCall/ -- Debut Broadcasting Corporation, Inc.™ (OTC Bulletin Board: DBTB), a media and entertainment company, today announced a third-quarter net income of $100,326 on the strength of a 7% increase in top line revenue and a 35.7% reduction in operating expenses. The company continues to make progress on its reorganization strategy.
The company has been implementing a reorganization strategy intended to achieve profitability. That strategy included recent staffing improvement in sales, change in national representation firm, as well as new strategic alliances and products. Additional progress is anticipated during Q4.
"We are pleased to report continued progress in the 3rd quarter," stated Chief Executive Officer Ronald Heineman. "Our restructuring, which began in February, has better aligned the business with the current choppy economic environment." Heineman added, "We are confident that our recent personnel moves will prepare Debut for the future. I am also happy to report the acquisition of the radio broadcast station WNBV FM in Grundy, Virginia, which will add to our top line focus going forward."
About Debut Broadcasting Corporation, Inc.
A media and entertainment company, Debut Broadcasting Corporation, Inc. (OTC Bulletin Board: DBTB) supports its clients throughout North America while also improving shareholder value through targeted turnaround opportunities in the southeastern United States. Through its entertainment arm, Impact Radio Networks, Debut sells pre-recorded radio programs and related services to more than 1,400 AM and FM stations in the U.S. and Canada, and reaches more than 45 million listeners per week, making it one of the leading syndicators in the industry. The company also provides marketing, consulting and media buying for its radio broadcast stations. Through its media division, Debut identifies and acquires (or manages) underperforming and undervalued media properties in the southeastern U.S. For more information about Debut Broadcasting, please visit www.debutbroadcasting.com or email [email protected].
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
Debut Broadcasting is a trademark of Debut Broadcasting Corporation, Inc. All other trademarks are property of their respective owners.
SOURCE Debut Broadcasting Corporation, Inc.
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