Q3 revenues at PhotoWorks decline 33% year over year
Due to a sharp drop in sales of traditional film processing, revenues at PhotoWorks Inc. declined 32.6% for the third quarter ended June 25, to $3.16 million from $4.69 million in the year-ago period, the online photography services retailer said today.
On a brighter note, Q3 revenues from digital products and services rose 18.8% to $763,000 from $642,000 a year ago. Year-to-date revenues from digital products and services, which include sales from last year’s Christmas holiday season, rose 24.8% to $2.74 million from $2.19 million in the prior year, the company said.
PhotoWorks, a 25-year-old company which now operates solely on the web at PhotoWorks.com, reported a Q3 net loss of $1.63 million, compared to a net loss of $957,000 a year ago. For the nine months ended June 25, it reported a net loss of $4.17 million, compared to a net loss of $1.89 million a year ago.
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