“Shares of Los Angeles-based Napster fell to $3.67 in extended trading following the earnings report but recovered to $3.88. The stock had closed up 9 cents at $4.07 on Nasdaq,” Reuters reports. “Its net loss increased to $8.5 million, or 20 cents per share, for the fourth quarter ended March 31, from $4.4 million, or 10 cents per share, a year earlier, when it posted a gain of $5.4 million gain from the sale of its consumer software division.”
“At the end of March 31, Napster’s total paid subscriber base was 830,000 after adding 225,000 AOL Music Now subscribers who joined the service that month,” Reuters reports.
“Chief Executive Chris Gorog told analysts on a conference call the company has retained its relationship with UBS to assist in evaluating merger and acquisition opportunities but is also maintaining its focus on the business,” Reuters reports.
Full article here.
“Me Gorog. Me got secret plan.”