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Jul 31, 2008 9:00:00 AM
NEW YORK, July 31 /PRNewswire-FirstCall/ -- Alliance Distributors Holding Inc. (Pink Sheets: ADTR), a distributor of interactive video games and gaming products, today announced its financial results for the second quarter ended June 30, 2008.
Net sales for the quarter increased 64% to $20.5 million from $12.5 million in the second quarter of 2007. Net income was $253,000 in the second quarter of 2008, compared to a net loss of $892,000 in the second quarter of 2007.
For the six months ended June 30, 2008, net sales increased 51% to $43.4 million, compared to $28.8 million for the same period in 2007. Net income was $285,000 for the six months ended June 30, 2008 compared to a net loss of $1.5 million for the comparable period in 2007.
Jay Gelman, Chairman and Chief Executive Officer, said "We are pleased with our continued growth especially during this period of general economic uncertainty. We achieved profitability in the most challenging part of the year in the video game industry, and have now delivered positive earnings in three consecutive quarters."