MEDIA 100 REPORTS FOURTH QUARTER RESULTS

MEDIA 100, providers of software, systems and services for streaming media on the Internet, have reported results for their fourth quarter and fiscal year ended November 30, 2000.
Net sales for the fourth quarter were $15.1 million, versus $17.8 million reported in the fourth quarter of fiscal 1999. Net sales for the year ended November 30, 2000 were $72.9 million, an increase of 12 per cent over the $64.8 million reported in fiscal 1999.
The Company reported a net loss for the fourth quarter of $7.1 million, or $0.58 per share, including amortization expense and restructuring charges, versus net income of $1.4 million, or $0.11 per diluted share, including amortization expense, in the fourth quarter of 1999.
John Molinari, president and chief executive officer of Media 100 Inc. said: "Although fourth quarter performance was disappointing, we see strong prospects for the Company's advanced streaming media products and services going forward and expect to return the Company to profitability in the second half of 2001.
“In order to drive growth in our Software Division, we are launching innovative new products and have successfully recruited an experienced new management team to lead this effort. The new management team is chartered with driving sales of our industry standard Cleaner 5 application, and our recently announced CineStream offering, the industry's first streaming media authoring application that enables web developers to create compelling, interactive video content for broadcasting on the Internet.
“With these new applications and an experienced, dedicated management team driving the Software Division, Media 100 is well positioned to supply high-value software applications to a broad range of customers who need to create and deliver superior quality, interactive streaming media programs over the Internet." (GB)