Oops, Brilliant Digital Having A Bad Cash Day

[JackSpratts]

By Evan Hansen
Staff Writer, CNET News.com

Brilliant Digital Entertainment on Thursday said it collected $375,000 in net revenue for the second quarter, down 42 percent from $652,000 in the comparable second quarter of 2001.

Woodland Hills, Calif.-based Brilliant Digital, whose Altnet peer-to-peer software comes bundled with the popular Kazaa file-swapping client, reported a net loss of about $2 million, or 9 cents per share, compared with a net loss of $1.2 million, or 8 cents per share, for the same period last year.

Brilliant Digital Chief Executive Kevin Bermeister attributed the drop in revenue to initial costs associated with a shift in corporate strategy from 3D animation production to advertising and content distribution services offered through Altnet.
http://news.com.com/2100-1023-950003.html

- js.