Atlanta, Feb. 12, 2013 (GLOBE NEWSWIRE) -- Light Media (OTC Markets: LGMH), Inspirational Media Specialist, announced today its results for the fiscal year-end period December 31, 2012, as follows:
* Revenues were $14,306 as of December 31, 2012 versus $17,837 for the quarterly period ending September 30, 2012.
* Cost of sales were $1,658 as of December 31, 2012 versus $2,987 for the quarterly period ending September 30, 2012.
* Selling, general and administrative expenses were $12,914 as of December 31, 2012 versus $14,265 for the quarterly period ending September 30, 2012.
3 Key Milestones in Q4-2012:
- Closed Agreement to Divest Power 105.5 FM Terrestrial Radio property.
- Repurchased 11,000 common shares in open market transactions, at an average price of $0.0176/share, leaving an available stock repurchase amount of 2,239,000 shares, via previously-announced Stock Repurchase Program.
- Attained Android App Developer Certification (Complementing Existing iTunes App Developer License), covering 89% of the smart device market.
"Exiting 2012, all friends and supporters of Light Media can continue to rest-at-ease, regardless of the global macroeconomic climate, knowing that all key corporate assets remain intact (free and clear) and unbound and unrestrained by secured indentures and remain strategically positioned for long-term opportunity and growth. Entering 2013, Light Media remains patiently focused having persevered through the Great Recession as a leaner and more agile multimedia conglomerate after 36 consecutive months of carefully targeted cost-cutting measures, strategic investments/reinvestments and realignments of business units and priorities, simultaneously while broadening and deepening media platform and distribution expertise. Light Media continues to alter the paradigm one-day-at-a-time, as the Inspirational Media Specialist, and there is more Good News to come," said Danny Wilson, CEO, Light Media. Ps. 112:6-8.
About Light Media: Light Media (OTC Markets: LGMH), Inspirational Media Specialist, markets, produces and distributes inspirational music, video, video games, print media and entertainment in the Inspirational Media space through its network of radio, Internet, television, print and special events global business platforms and marketing and alliance partners. Light Media is also the 20th publicly-traded multimedia conglomerate in the United States. For more information, please visit: www.LGMH.com; www.LightMediaHoldings.com; www.InvaluableMedia.com or www.HotChristianStocks.com.
Cautionary Note Regarding Forward-Looking Statements: This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Light Media (OTC: "LGMH") and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
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