YouthStream Media Networks (Nasdaq: NETS) fell 1 3/32 to 3 1/8 Thursday after reporting losses for the fourth quarter and year ended June 30th.
Though revenue more than doubled for both periods, the company, which operates Web sites and marketing campaigns aimed at teens and young adults, posted a net loss of $30.8 million, or $1.10 per share, for the quarter, compared with a loss of $4.0 million, or 27 cents. For the full year, the loss widened to $49.9 million, or $2.36 per share, from $9.2 million, or 72 cents.
Revenue for the quarter rose to $4.6 million from $2.3 million a year earlier, while full-year revenue rose to $29 million from $13.3 million.
The company said expenses that contributed to the losses “will be contained on an ongoing basis,” and it is on track to report positive earnings before interest, taxes, depreciation and amortization in fiscal 2002.