The Company reported a net loss of ($245,000) or ($0.01) per diluted share for the quarter, compared to a net loss of ($198,000) or ($0.00) per share for Q1 2007.
As of June 30, 2007, NexCen had cash and cash equivalents of $27 million, total assets of $273 million, long-term debt of $54 million and deferred revenues of $5.7 million.
Mr. D'Loren concluded, "One of the most exciting events during the second quarter took place at our TAF Global Franchise Convention in Las Vegas in June, where we introduced our vision for the future of The Athlete's Foot ("TAF") to approximately 70 TAF franchisees, representing over 600 stores throughout the world."
"We presented an innovative, modular merchandising system that will allow each store location to more closely align its product offering with local demographics and buying tastes. In addition, we introduced our new line of high margin, TAF branded apparel."
"Both of these introductions were received enthusiastically by the franchisees in attendance. Adding to our excitement about TAF was the recent signing of an agreement with an existing TAF area developer, to open a minimum of 100 new domestic stores over the next 14 years."
The results for the second quarter of 2007 included: (a) The Athlete's Foot, Bill Blass and MaggieMoo's and Marble Slab for the entire quarter and (b) Waverly for approximately two months. The Company did not own any of these brands during the first half of 2006.
For the six months ended June 30, 2007, NexCen reported total revenues of $12.7 million and a net loss of ($443,000) or ($0.01) per share. The results for the first six months of 2007 included: (a) The Athlete's Foot for the entire six months, (b) Bill Blass from February 15 (date of acquisition), (c) MaggieMoo's and Marble Slab from February 28 (date of acquisition) and (d) Waverly for approximately two months.
NexCen will host a conference call to discuss the second quarter and six month results on Friday, August 10, 2007 at 9:00 a.m, Eastern Time.
marketing@alchempro.com
