New Scaratings

"The focus during the first quarter continued to be on product development and preparation for the commercial launch of some of our new products," said Jeff Berg, the company's interim CEO. "Engagement metrics from our pilot with a large customer has continued to generate encouraging results and we look forward to rolling out more locations with them, along with new products and functionality. Player registration has tripled from historical rates and we are encouraged by our ability to build the player audience. The transformation of Buzztime continues, and we are excited about what that means as we proceed into the second half of the year," added Mr. Berg.

Results for the First Quarter Ended March 31, 2013

The Company ended the first quarter of 2013 with 3,436 subscribing venues, compared to 3,868 at March 31, 2012. Revenues for the first quarter of 2013 were flat at $6.1 million when compared to the same period of 2012. Gross margin as a percentage of revenue decreased to 67% for first quarter of 2013 from 73% for the same period of 2012. Direct costs increased $0.4 million, or 24%, to $2.0 million for the first quarter of 2013 from $1.6 million for the same period of 2012.

Selling, general and administrative expenses decreased $1.0 million, or 19%, to $4.3 million for the first quarter of 2013 from $5.3 million for the same period in 2012.

Net loss for the first quarter of 2013 was $0.4 million, or $0.01 per share, compared to net loss of $1.0 million or $0.02 per share in the same period a year ago.

As everyone accurately predicted, they proudly tout their "ability to build the player audience," as evidenced by the tripling of registered players. Of course we all know that their player audience has likely actually decreased, and they can deceive people into thinking the opposite by ignoring the fact that they now require players to register for their scores to count and to choose their own name.

So I guess their strategy is, if you cannot achieve success, trick people into thinking you have by simply making it look like you have achieved success?

And they are down 400 sites. Great work.

WV lost three sites, two of which I knew were doomed because management didn't train anyone to run the system (put it on a TELEVISION)!

Never had a chance to even get to the third site before the plug was pulled.

And I take it that BWW is the 'large' customer to which they are refering.

The transformation of buzztime continues

I wonder what percentage of that 400 is on the West split ?

We lost 4 sites in Vegas.

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Buzztime is a company full of dumbshits.

I tried to play at Ardies in La Crosse today. I think they will lose that site if they don't get their collective head out of their ass and fix the problems that make their system close to unplayable.

There is a bar called "Woodies" in Bayport MN that had NTN installed a few years ago. I went down there a few times just to do my share to keep it alive as an NTN alternative to my usual haunts. The last couple of times I tried to play there I was told the "system was down". It seemed like the bartender either didn't know to get NTN started or didn't want to bother. Shortly after that they dropped NTN.

In the last couple of years or so two Trivia bars have been added to my area. I have six within a 10 minute drive of my house. Unfortunately only two have regular players. Why the other 4 bars hang on to BT is beyond me.

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"Truth Like Football. Gets kicked around much, before reaching goal." - Charlie Chan

" Don't look back, The bastards might be gaining on you." - Satchel Paige

Frank