STRATEGIC PARTNERS
February 24, 2002
ARLINGTON, Texas - GameCom/Ferris Inc. (OTCBB:GAMZ), which grew out of the merger of kiosk developer GameCom Inc. and virtual reality entertainment company Ferris Productions Inc. in late September, on Nov. 15 announced a net loss of $649,384 on revenue of $941,672 for the third quarter ending Sept. 30. For the same quarter in 2000, GameCom reported a net loss of $270,721 on revenue of $1,088,519.
The financial report takes into account GameCom's and Ferris's combined financial performances even though their merger did not take place until the final days of the fiscal period.
For the year to date, GameCom has recorded a net loss of $2,011,698 on revenue of $2,313,790. Last year, the company lost $807,122 for the first nine months of the fiscal year on $2,485,173 in revenue.
"In looking at Ferris' historical operating results, we knew its revenue growth had plateaued as it faced the challenges of matching capital with expanding market opportunities," GameCom chief executive officer L. Kelly Jones said in a news release. "Now that we have assumed financial control, and through public markets have access to growth capital, we believe we can achieve sustained quarter-to-quarter revenue growth, and, in the near term, profitability."
