Napster, Inc. (NAPS) Provides Outlook for Fiscal 2008 and Fourth Consecutive Quarter of Positive Cash Flow
Napster, a pioneer of digital music, announced April 3, 2008 that it fiscal year 2008 ended in record revenues of $127 million and expects its fiscal 2008 fourth quarter revenue to total $31 million. Napster advised that the fourth fiscal quarter generated positive cash flow and is the fourth consecutive quarter of positive cash flow. The Company also announced that its worldwide subscriber base increased to approximately 760,000 as of March 31st of 2008. Napster’s revenues put the Company into the top three digital music companies in the industry, well ahead of competitors such as Amazon, eMusic and Zune Marketplace,…