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February 11, 1997 - Capitol Multimedia, Inc. reports fiscal third quarter results.
November 19, 1996 - Capitol Multimedia, Inc. announces new Chief Financial Officer
November 11, 1996 - Capitol Multimedia, Inc. reports 2nd Fiscal Quarter results
September 19, 1996 - Capitol Multimedia, Inc. Announces Consolidation and Management Changes, Including the Addition of Former GE Vice President
August 14, 1996 - Capitol Multimedia, Inc. reports 1st Fiscal Quarter Earnings
May 23, 1996 - Capitol Multimedia, Inc. reports four consecutive profitable quarters and record annual earnings
February 29, 1996 - Capitol Multimedia, Inc. Announces Extension of Series A Warrants
February 23, 1996 - Capitol Multimedia, Inc. announces Software Publishing and Licensing Agreement with Broderbund Software, Inc.
February 2, 1996 - Capitol Multimedia, Inc. reports continued profits
December 1, 1995 - Capitol Multimedia, Inc.'s Baba Yaga and the Magic Geese™ Selected as one of the best software titles of 1995
November 15, 1995 - Capitol Multimedia, Inc. to develop three titles for Simon & Schuster Interactive
October 25, 1995 - Capitol Multimedia, Inc. reports continued profits
Concord, Massachusetts, February 11, 1997 -- Capitol Multimedia, Inc. (NASDAQ: CDIM, CDIMW, or the "Company") today reported losses for the three and nine months ended December 31, 1996 amounting to $328,000 and $1,273,000, or $0.07 and $0.26 per share, on revenues of $528,000 and $1,867,000. On a comparative pro-forma basis (excluding results from the professional CD-I business, which was sold in 1995), the Company generated net income of $210,000 and $614,000 or $0.04 and $0.13 per share on revenues of $1,034,000 and $3,108,000 for the three and nine months ended December 31, 1995. Actual earnings for the three and nine months ended December 31, 1995 were $210,000 and $2,901,000, or $0.04 and $0.55 per share.
In the quarter ended December 31, 1996, the Company completed its consolidation of operations from Bethesda, Maryland to Concord, Massachusetts. In the fiscal third quarter, the Company incurred approximately $120,000 of one-time transition costs related to the move. The Company expects to save at least $300,000 annually beginning in fiscal year 1998 as a result of its consolidation actions. According to Igor Razboff, the Company's recently appointed Chairman and CEO, "The quarterly and year-to-date results demonstrate the continued problems in our industry and the lack of consumer sales and royalty revenue from products released for distribution over the past year. Our performance in the fiscal third quarter represents an improvement over our second quarter due to higher revenues from work-for-hire projects and containment of operating expenses. Improved operating results demonstrate progress in bringing the CD-ROM business back to profitability.
Recently, we have begun development and production of products for the adult games market. In 1996, we entered into an agreement with CUC International, Inc. to develop an animated CD-ROM game based on the successful Blizzard Entertainment's "Warcraft Software Series." Additionally, we are exploring strategic initiatives to leverage our top quality and low cost software development capabilities to produce software products for the professional and business segments of the market."
Capitol Multimedia, Inc. with its offices in Concord, MA and St. Petersburg, Russia, is a high-end producer of CD-ROM titles. The company employs more than 150 professionals, including animators, artists, producers, software and audio engineers, writers, and game designers.
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This press release contains certain forward-looking statements. The phrase "expects to", or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those presently anticipated or projected. Capitol cautions readers not to place undue reliance on any forward looking statements, which speak only as to management's expectations on the date hereof. Capitol does not undertake - and specifically declines any obligation - to publicly release the result of any revision which may be made to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.
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BETHESDA, Md.--(BUSINESS WIRE)--Nov. 19, 1996--Capitol Multimedia, Inc. (Nasdaq: CDIM, CDIMW) a creator of CD-based software for children, today announced that Ed Terino, most recently, Corporate Vice President of Houghton Mifflin Company, will join Capitol Multimedia, Inc. in December as Chief Financial Officer.
Mr. Terino worked for Houghton Mifflin Company during the past eleven years. He had served in various finance positions until 1990 when he became Vice President and Corporate Controller. Since 1992, Mr. Terino has been Corporate Vice President and Director of Finance, Planning and Operations for the School Division, a $275 million K-8 publishing division. Prior to his employment at Houghton, Mr. Terino spent nine years in various consulting and audit roles in Deloitte & Touche. He holds a masters degree in Business Administration.
According to Mr. Razboff, Chairman and Chief Executive Officer of the Company: "We are excited about Ed joining the company. In addition to financial expertise he also brings business development experience in our industry. I am confident that Ed will significantly contribute to increasing the Company's shareholder value."
Capitol Multimedia, Inc. with offices in Bethesda, MD; Concord, MA; and St. Petersburg, Russia, employs more than 150 professionals, including animators, artists, producers, software and audio engineers, writers and game designers. Its children's animated story and adventure titles are distributed by Davidson and Associates, Inc., a subsidiary of CUC International Inc and Broderbund Software Inc .
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BETHESDA, MD, November 11, 1996 -- Capitol Multimedia, Inc. (Nasdaq: CDIM, CDIMW, or "the Company"), today reported that excluding one-time consolidation charges, losses for the three and six months ended September 30, 1996 amounted to $564,000 and $482,500 or $0.12 and $0.10 per share. Including the one-time consolidation charges, losses for the three and six months ended September 30, 1996 were $1,027,000 and $945,000 or $0.21 and $0.20 per share on revenues of $327,000 and $1,340,000. On a comparative pro forma basis, the Company generated net income of $253,000 and $404,500 or $0.05 and $0.08 per share on revenues of $1,029,500 and $2,073,500 for the three and six months ended September 30, 1995. Actual earnings for the three and six months ended September 30, 1995 were $2,661,000 and $2,691,500 or $0.48 and $0.49 per share.
In September 1996, the Company announced that it would be consolidating its Bethesda, Maryland headquarters with current operations in Massachusetts by the end of the calendar year. $462,500 in charges, consisting of severance benefits and fees relating to subleasing its facilities in Maryland, were recognized during the quarter ended September 1996. The Company expects to incur an additional $100,000 in expenses, the majority of which will be recognized during the quarter ended December 1996, relating to its move to Massachusetts.
According to the Company's new Chairman and CEO, Igor Razboff: "The quarterly results cannot be attributed to a lack of performance by the Company. Its five new titles were commercially released by our licensing partners during the quarter. The poor operating results are directly attributable to widely reported problems in our industry, including a glut of CD-ROM titles and the resulting intense competition for children's animated story and adventure titles. Even though the Company's titles are distributed by Broderbund and Davidson, leading children's CD-ROM publishers, actual sales did not meet sales projections. In addition, software development revenues suffered as publishers cut back on 1997 title development. Fortunately, the Company has a very strong balance sheet and a low cost production infrastructure which should allow us to withstand what we hope are short term adverse conditions in our industry. In the near term we will concentrate our efforts on securing development contracts utilizing our excellent record of top quality production and on-time delivery.Ó
In July 1996, the Company announced the release of Gregory and the Hot Air Balloon and Darby The Dragon, two of its interactive animated adventures, by Broderbund Software, Inc. (Nasdaq: BROD), a leading publisher and distributor of interactive children's entertainment and educational software for both the home and school markets. These titles are part of a Broderbund line of products known as StoryQuests™. In September 1996, three of the Company's international folk tale titles -- Liam Finds a Story, an Irish folk tale; Sleeping Cub's Test of Courage, a Native American folk tale; and The Princess and the Crab, an Italian folk tale, were released for distribution by Davidson & Associates, Inc., a subsidiary of CUC International, Inc. (NYSE: CU), another industry leader, under its Magic Tales™ product line.
Capitol Multimedia, Inc. with offices in Bethesda, MD; Concord, MA; and St. Petersburg, Russia is a high end producer of children's animated story and adventure CD-ROM titles. The Company employs more than 150 professionals, including animators, artists, producers, software and audio engineers, writers and game designers.
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BETHESDA, MD, September 19, 1996 -- Capitol Multimedia, Inc. (Nasdaq: CDIM, CDIMW), a creator of CD-based software for children, today announced that it will consolidate its Bethesda, Maryland headquarters with current operations in Massachusetts by the end of the calendar year.
Robert Bogin, the Company's President and Chief Executive Officer, and Catherine Hoopes, the Company's Chief Financial Officer, Secretary, and Treasurer, have chosen not to relocate to Massachusetts. Mr. Bogin resigned as President and CEO effective September 12, 1996. He will remain employed by the Company through December 1996 and continue to serve as a director of the Company. Ms. Hoopes has agreed to assist with the transition through February 28, 1997.
The Company's Board of Directors selected Igor Razboff, previously Vice President of Production and one of the Company's largest shareholders, as Chairman of the Board and Chief Executive Officer. The Board also selected Luda Kopeikina, most recently Vice President of GE Information Services, as President.
As a result of increased competition and slowed growth in the children's CD-ROM market, the Company currently expects September 30, 1996 quarterly net sales and financial results to be substantially lower than those of the Company's consumer software operations for the same period of the prior year. In addition, the Company expects to incur significant nonrecurring costs in connection with consolidating its United States operations.
According to Mr. Bogin, "The move to Massachusetts is the right one for the Company. Consolidating offices will reduce production expenses even further and significantly improve the efficiency and productivity of the Company's operations. The new management team has the right mix of skills and a proven success record. I am confident, both as a director and shareholder, that Igor Razboff and Luda Kopeikina will succeed in growing the Company and increasing shareholder value."
Igor Razboff founded Animation Magic, Inc. ('AMI') in 1992 and served as its President and CEO until the Company acquired AMI in February 1995. Mr. Razboff was instrumental in the successful implementation of the Company's strategic focus on the children's CD-ROM market. Prior to that, Mr. Razboff was employed by Prime Computer, Inc. and AT&T Bell Labs. He holds a Ph.D in mathematics.
Luda Kopeikina holds a graduate degree from the MIT Sloan School of Management and a masters degree in computer science. Ms. Kopeikina worked for General Electric during the past six years, first as an Executive Manager for Corporate Business Development at GE headquarters in Fairfield, Connecticut, then as Vice President of Business Development & Sourcing and Vice President of World-wide Customer Service at GE Information Services in Rockville, Maryland. Ms. Kopeikina is married to Mr. Razboff.
Capitol Multimedia is a leading creator, developer and licensor of primarily children's CD-ROM software titles. The Company and its subsidiaries employ more than 165 people with offices in Concord, Massachusetts and St. Petersburg, Russia. Seven of the Company's animated children's titles have been released. The Company expects the release of one additional title during the next month. Last Fall, the Company announced the launch of the first three of six Grandpa Mouse international folk tale titles which were licensed to Davidson & Associates for distribution under Davidson's Magic Tales label: Baba Yaga and the Magic Geese, Imo and the King. and The Little Samurai. Two of the remaining three titles under the agreement, Liam Finds a Story and Sleeping Cub's Test of Courage, shipped earlier this month. The Princess and the Crab is expected to be released within a few weeks. In July 1996 the Company announced the launch of two Kidventures titles licensed to Broderbund Software, Inc. for distribution under Broderbund's StoryQuests label: Gregory and the Hot Air Balloon and Darby The Dragon.
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Bethesda, Maryland, August 14, 1996 -- Capitol Multimedia, Inc. (Nasdaq: CDIM, CDIMW, or "the Company"), today reported net income of $81,740 or $.02 per share on revenues of $1,012,549 for the quarter ended June 30, 1996. This compares to net income of $30,499 or $0.01 per share on revenues of $1,396,181 for the quarter ended June 30, 1995. On a pro forma basis, which excludes all CD-i professional activities, the Company previously reported a June 30, 1995 quarterly net income of $151,497 or $.03 per share on revenues of $1,044,131.
In July 1996, the Company announced the release of Gregoryand the Hot Air Balloon and Darby The Dragon, two of its interactive animated adventures, by Broderbund Software, Inc. (Nasdaq: BROD), a leading publisher and distributor of interactive children's entertainment and educational software for both the home and school markets. The combined Windows / Macintosh CD-ROM titles captivate, entertain, and teach children ages 4-8 and are part of a Broderbund line of products known as StoryQuests™.
The Company's international folk tale titles -- Baba Yaga and the Magic Geese, a Russian folk tale; Imo and the King, an African folk tale; and The Little Samurai, a Japanese folk tale, were released for distribution under Davidson & Associates, Inc.'s Magic Tales™ product line during fall 1995. The titles are currently available on a combined Windows/Macintosh CD-ROM at most major computer retail stores, mass merchants, and toy stores. Three additional titles in the Magic Tales™ series, Liam Finds a Story, an Irish folk tale; Sleeping Cub's Test of Courage, a Native American folk tale; and The Princess and the Crab, an Italian folk tale, are scheduled for release in fall 1996.
Capitol Multimedia, Inc. with offices in Bethesda, MD; Concord, MA; and St. Petersburg, Russia employs more than 175 professionals, including animators, artists, producers, software and audio engineers, writers and game designers.
To find out more about Capitol Multimedia look for us at our new web site: http://www.capitol.com
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Bethesda, Maryland, May 23, 1996 -- Capitol Multimedia, Inc. (NASDAQ: CDIM, CDIMW), today reported record earnings of approximately $3.0 million or $0.58 per share on revenues of $4.3 million for the year ended March 31, 1996. That compares to a net loss of approximately ($4.3 million) or ($0.77) per share on revenues of $4.2 million for the year ended March 31, 1995. Weighted average number of shares decreased during the year from 5,636,128 to 5,235,483.
Approximately $2.5 million, or $0.49 per share, of the Company's March 31, 1996 net income related to its August 1995 sale of certain CD-i professional assets. The Company acquired 825,088 shares of its own common stock in connection with that transaction. On a pro forma basis, which excludes all CD-i professional activities, the Company posted earnings (losses) of approximately $690,000 and ($4.1 million) or $0.14 and ($.86) per share for the years ended March 31, 1996 and 1995. Revenues on a pro forma basis were $4.0 million and $2.6 million in 1996 and 1995, respectively.
Robert I. Bogin, CDIM president and chief executive officer, said, "We are gratified that the hard work of the past year has resulted in such a turnaround from the prior year's results. We believe the Company's strategy of creating and producing the highest quality interactive titles and licensing the CD-ROM rights to the industry's leading publishers and distributors is a winning one for Capitol. We are optimistic that this strategy will result in continued success in the year and years ahead."
In 1995, the Company created the first three titles in the Grandpa Tales™ series of international folk tales-- Baba Yaga and the Magic Geese™, a Russian folk tale; Imo and the King™, an African folk tale; and The Little Samurai™, a Japanese folk tale. Three additional titles in this series are currently in production and are scheduled for release during the Company's September 30, 1996 quarter. The PC and Macintosh CD-ROM rights to these six titles have been licensed to Davidson & Associates, Inc. (NASDAQ: DAVD) and are being published under Davidson's Magic Tales™ label.
The Company recently created and produced the first titles in its new Kidventures™ line of animated adventure stories. The two products, Gregory and The Hot Air Balloon™ and Darby the Dragon™ are also scheduled for release during the September 30, 1996 quarter. The PC and Macintosh CD-ROM rights to these two titles have been licensed to Broderbund Software, Inc. (NASDAQ: BROD).
Capitol Multimedia, Inc. is a leading creator and producer of original children's CD-ROM animated interactive products. The Company currently employs approximately 170 people with offices in Bethesda, Maryland; Concord, Massachusetts; and St. Petersburg, Russia.
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BETHESDA, MD, February 29, 1996 -- Capitol Multimedia, Inc. (NASDAQ: CDIM, CDIMW, or the "Company" ), a creator of CD-based software for children, today announced that the Company's Board of Directors has extended its Series A Warrant expiration date for one year to March 31, 1997.
The Company currently has 344,500 Series A Warrants outstanding. Each Warrant entitles the holder thereof to purchase 1.09 Shares of Common Stock at an exercise price of $5.72 per share through March 31, 1997. The Warrants are redeemable by the Company on an all or nothing basis at a redemption price of $0.01 per Warrant, upon 30 days written notice, provided, however, that holders may exercise Warrants at any time prior to the expiration of the 30-day redemption notice period.
In the event that all of the Warrants are exercised, the Company will receive proceeds of approximately $2,150,000. The Company currently plans to use any proceeds received upon exercise of the Warrants to fund working capital requirements and finance the development of new multimedia software products.
Capitol Multimedia, Inc. is a leading developer and publisher of children's CD-ROM animated interactive story and adventure titles for the consumer market. The Company currently employs 120 people with offices in Bethesda, Maryland; Concord, Massachusetts; and St. Petersburg, Russia.
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BETHESDA, MD, February 23, 1996 -- Capitol Multimedia, Inc. (NASDAQ: CDIM, CDIMW, the "Company" or "Capitol"), a creator of CD-based software for children, today announced that it has entered into a worldwide licensing and publishing agreement to distribute two children's titles with Broderbund Software, Inc. (NASDAQ: BROD or "Broderbund"), a leading publisher and distributor of interactive children's entertainment and educational software for both the home and school markets. The terms of agreement were not disclosed.
According to Robert I. Bogin, President and CEO of Capitol Multimedia, Inc., "This agreement, as well as the previously announced Davidson agreement, demonstrates that we are creating exceptionally high-quality titles which are judged by others in the industry as being the best in their category. We have licensed these titles to Broderbund because we are convinced that Broderbund is a proven industry leader that will maximize our return on investment."
Capitol Multimedia, Inc. is a leading developer and publisher of children's CD-ROM animated interactive story and adventure titles for the consumer market. The Company currently employs 120 people with offices in Bethesda, Maryland; Concord, Massachusetts; and St. Petersburg, Russia.
In the Fall 1995, the Company launched the first three of six titles in its Presented by Grandpa Mouse™ series which it licensed to Davidson & Associates for distribution under Davidson's Magic Tales™ label. The three titles -- Baba Yaga and the Magic Geese™, a Russian folk tale; Imo and the King™, an African folk tale; and The Little Samurai™, a Japanese folk tale, are currently available on a combined Windows/Macintosh CD-ROM at most major computer retail stores, mass merchants, and toy stores. Three additional titles in the Magic Tales™ series are scheduled to be shipped in late summer or early Fall 1996.
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Bethesda, Maryland, February 2, 1996 -- Capitol Multimedia, Inc. (NASDAQ: CDIM, CDIMW, or "the Company"), today reported net income of approximately $209,500 and $2.9 million or $.04 and $.55 per share for the three and nine month periods ending December 31, 1995. Approximately $2.5 million, or $.46 per share, of the Company's nine month gain related to the August 11, 1995 sale of certain CD-i professional assets. The Company acquired 825,088 shares of its own common stock in connection with the transaction. On a pro forma basis, excluding all CD-i professional activities, the Company posted earnings of approximately $209,500 and $614,000 or $.04 and $.13 per share for the three and nine months ended December 31, 1995.
Robert I. Bogin, CDIM President and Chief Executive Officer, said, "The expected positive financial results for the quarter and past nine months compared to the prior year periods confirm the success of the Company's turn-around strategy."
The Company's titles -- Baba Yaga and the Magic Geese™, a Russian folk tale; Imo and the King™, an African folk tale; and The Little Samurai™, a Japanese folk tale, were released this Fall. These products are part of the Company's interactive animated folk tales series Presented by Grandpa Mouse™ which it licensed to Davidson & Associates for distribution under Davidson's Magic Tales™ label. The titles are currently available on a combined Windows/Macintosh CD-ROM at most major computer retail stores, mass merchants, and toy stores.
The Company plans to launch two more titles this Summer: Darby the Dragon™, and Gregory and The Hot Air Balloon™, as part of its Kidsventure™ line. Capitol Multimedia, Inc. is a leading developer and publisher of children's CD-ROM animated interactive story and adventure titles for the consumer market. The Company currently employs 120 people with offices in Bethesda, Maryland; Concord, Massachusetts; and St. Petersburg, Russia.
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BETHESDA, MD, December 1, 1995 -- Capitol Multimedia, Inc. (NASDAQ: CDIM, CDIMW), a leading developer of children's CD-ROM software, headquartered here, today announced that Parents magazine (December issue) selected Baba Yaga and the Magic Geese™ as one of 1995's five best children's software titles.
Baba Yaga and the Magic Geese™ also received recognition in the Personal Technology column of November 30th's Wall Street Journal. In his annual holiday rundown of CD-ROMs for kids and adults, Wall Street Journal writer Walter S. Mossberg recommended Baba Yaga as one of five great gift ideas for kids.
Baba Yaga and the Magic Geese™ is one of three interactive animated folk tales developed by Capitol Multimedia, Inc. and released this Fall by Davidson & Associates (NASDAQ: DAVD), a leading distributor of multimedia educational and entertainment software.
The Company previously announced an agreement with Davidson & Associates, Inc., whereby Davidson licensed and will distribute six of Capitol Multimedia's edutainment titles for the Windows and Macintosh CD-ROM platforms as part of Davidson's Magic Tales™ series. The first three titles in the series, Baba Yaga and the Magic Geese™, a Russian folk tale, The Little Samurai™, a Japanese folk tale and Imo and the King™, an African folk tale, are widely available at major computer retail stores, mass merchants and toy stores for approximately $35-40.
According to Robert I. Bogin, President and CEO of Capitol Multimedia, Inc., "We are gratified by the recognition Baba Yaga and the Magic Geese™ has received from Parents magazine and the Wall Street Journal. A lot of talented people involved in the creation of this title worked long hours to make this beautifully animated title come to life. We expect that children will enjoy many hours playing this and the other titles in the Magic Tales™ series."
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BETHESDA, MD, November 15, 1995 -- Capitol Multimedia, Inc. (NASDAQ: CDIM, CDIMW), a leading developer of children's CD-ROM software announced today that it has entered into an agreement to develop three Action Learning 3D Adventure titles for Simon & Schuster Interactive. Simon & Schuster Interactive, a unit of Simon & Schuster, the publishing operation of Viacom, Inc. (AMEX: VIAC), is a leading publisher of multimedia educational and entertainment software for both the home and school markets.
With this agreement, Capitol Multimedia and Simon & Schuster Interactive extend the highly successful developer/publisher relationship that spawned I.M. Meen, the Gold Parent's Choice award-winning children's software for 1995. Capitol Multimedia has agreed to develop a sequel to I.M. Meen and two other titles over the next 18 months. All three titles will be developed for Microsoft's Windows 95 operating system and will be targeted for ages 9 and up.
"It has been a Simon & Schuster Interactive strategy to marry strong action gaming with education. The viability of this strategy is proven by the extraordinary success of I.M. Meen. This collaboration with Capitol Multimedia will facilitate the emergence of Action Learning as a new category in Children's software," said Peter Yunich, president of Simon & Schuster Interactive.
According to Robert I. Bogin, president of Capitol Multimedia, Inc., "We are happy to develop these exciting 3D Learning Adventure titles for Simon & Schuster. This developmental relationship will assist the Company in reaching its revenue objectives over the next year as the Company's publishing revenues ramp up."
Capitol Multimedia is a leading developer and publisher of primarily children's CD-ROM software titles with an emphasis on interactive animated stories and adventures. Recently, the Company announced the launch of the first two of six Presented by Grandpa Mouse™ international folk tale titles licensed to Davidson & Associates for distribution under Davidson's Magic Tales™ label: Baba Yaga and the Magic Geese™ and Imo and the King™. The third title in this series, The Little Samurai™, was shipped at the beginning of November 1995. The remaining three titles will ship in the Fall of 1996. In addition, the Company plans to launch two more titles this Spring: Darby the Dragon™, and Gregory and the Hot Air Balloon™, as part of its Kidventure™ line.
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Bethesda, Maryland, October 25, 1995 -- Capitol Multimedia, Inc. (NASDAQ: CDIM, CDIMW, or "the Company"), today reported net income of approximately $2.66 million and $2.69 million or $0.48 and $0.49 per share for the three and six month periods ending September 30, 1995. Approximately $2.5 million, or $.44 per share, related to the Company's August 11, 1995 gain on the sale of certain CD-i professional assets. The Company acquired 825,088 shares of its own common stock in connection with the transaction. On a pro forma basis, excluding all CD-i professional activities, the Company posted earnings of approximately $253,000 and $405,000 or $.05 and $.08 per share for the three and six months ended September 30, 1995.
Robert I. Bogin, CDIM President and Chief Executive Officer, said, "We are gratified by the financial results for the quarter, which are consistent with our expectations. The results reflect the successful reorganization and change in strategic direction the Company has undertaken over the past six months."
Two of the Company's titles -- Baba Yaga and the Magic Geese, a Russian folk tale and Imo and the King, an African folk tale -- were released in September 1995. Both products are part of the Company's interactive animated folk tales series Presented by Grandpa Mouse™ which it licensed to Davidson & Associates for distribution under Davidson's Magic Tales™ label. The titles are currently available on a combined Windows/Macintosh CD-ROM at most major computer retail stores, mass merchants, and toy stores. A third title in the series, The Little Samurai, is scheduled for release at the end of the month.
Capitol Multimedia, Inc. is a leading developer and publisher of primarily children's CD-ROM animated interactive story and adventure titles for the consumer market. The Company currently employs 120 people with offices in Bethesda, Maryland; Concord, Massachusetts; and St. Petersburg, Russia.
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