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In a release, the company stated:
- Record Q3 revenue of $1.95 million, driven by sales growth in the health and beauty segment.
- Record Q3 Perfume.com revenue of $1.93 million, an increase of 29 percent compared to Q3 of 2007, marking the fourth consecutive quarter with quarterly year-over-year revenue growth of more than 27 percent.
- Global Cricket Ventures (GCV), Live Current's international cricket joint venture, launched BCCI.tv, the official online destination of the Board or Control for Cricket in India ("BCCI"). BCCI.tv is the authoritative website for all of Indian national cricket. The site offers exclusive video highlights, photographs and breaking news and interviews.
- Announced a partnership with Domain Strategies, an internet development and management company, to jointly establish a new company for the purpose of building, managing and monetizing the www.karate.com domain name owned by Live Current. Management expects this will be a model for future partnerships for much of the company's valuable domain name portfolio.
Geoffrey Hampson, Chairman and CEO of Live Current, said, "In the third quarter, we saw continued strong growth in our core health and beauty business as well as achieving important milestones in our emerging cricket media business. Both of our core business units are now well positioned for near-term growth. Despite challenging market conditions, Perfume.com is well positioned for continued growth during the fourth quarter holiday season, our busiest and most important time of the year. GCV will launch additional exclusive cricket properties over the next several quarters, including the official website of the Champions League Twenty20.
"The value of our portfolio of exclusive digital cricket content and properties continues to grow as we launch the sites. The interest and level of engagement around cricket and, in particular, the new T20 format is astounding. The massive level of fan support and investment by major global media brands that has recently taken place bodes well for the monetization of the unrivaled set of rights acquired by GCV."
"We continue to believe that selling non-core domain names is the least dilutive form of financing and we are making significant progress on the recently announced initiative to market up to six of our non-core but highly-prized names. We remain bullish on the future and believe that there are several near-term wins on the horizon with enormous long-term strategic value for the company."
Detailed information regarding Live Current's third quarter 2008 financial results is available through the investor section of Live Current's corporate website, at http://livecurrent.com/investors.php.
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((Distributed via M2 Communications Ltd - http://www.m2.com))
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