The Nasdaq-traded company attributed the growth to a 19 percent spike in quarter-to-quarter revenue from its VOD segment and international expansion initiatives.
For the first six months of fiscal year 2009, which ended Sept. 30, the company reported net sales of $26.4 million as compared to $25.4 million during that period in fiscal year 2008. Net income was $2.5 million or $0.11 per diluted share, compared to $3.6 million or $0.15 per diluted share in the same prior year period. Cash flow from operations increased to $6 million from $900,000.
"New agreements in the transactional TV segment increased our video-on-demand content distribution by over one million network homes,” said Michael Weiner, New Frontier Media CEO. “We also added almost two million pay-per-view network homes as we deepened an existing relationship with one of the largest multiple system operators in the country.
“Internationally, we are building our transactional TV presence in regions such as Latin America, Canada and Europe, as demonstrated by our execution of recent agreements that bring our international distribution to eight million network homes."