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Excellent financial results for Roxio

Roxio has announced financial results for the fourth quarter of 2001 and for the fiscal year ending March 31, 2001. Net sales for the fiscal year 2001 were $ 121.9 million, an increase of 57% over $ 77.8 million in the fiscal year 2000. Pro forma net profit of $ 23.9 million or $ 1.45 per share for the fiscal year 2001, excluding non-monetizable costs related to depreciation goodwill, extended share indemnities and amortization of the technologies acquired. This compared to pro forma net income of $ 15.7 million or $ 0.95 per share for fiscal year 2000. Net revenue for the fourth quarter of fiscal 2001 was $ 36.3 million, an increase of 23% from $ 29.4 million in the fourth quarter of 2000 and 32% from $ 27.5 million in the previous quarter. Pro forma net profit, excluding non-monetizable costs, was $ 4.6 million or $ 0.28 per share, compared to pro forma net profit of $ 8.8 million or $ 0.53% per share. fourth quarter 2000 share and $ 5.9 million or $ 0.36 per share in the prior quarter. ?We are proud of record sales and pro forma profits for fiscal 2001, the first since Roxio became independent ?Commented Chris Gorog, President and CEO of Roxio. ?These results demonstrate our strengthening and continuous growth in the digital media market. The fourth quarter saw an increase in OEM turnover and was mainly characterized by the growth in retail turnover of 120% thanks also to the success of the new versions of Easy CD Creator and Toast, our flagship products in the digital media, which have been very well accepted by the market. With the completion of the spin-off, we are able to devote ourselves to the development of Roxio and the continuous innovations of our products, which allow customers to create, manage and transfer digital content ". The net profit reported for the fiscal year 2001 status of $ 3.6 million or $ 0.22 per share, including non-monetizable earnings related to amortization of goodwill, extended share indemnities and amortization of acquired technologies. This compared to net income of $ 5.2 million or $ 0.31 per share for fiscal 2001. The net loss, reported for the fourth quarter of fiscal 2001, was $ 1.9 million or $ 0.12 per share, including non-monetizable costs. This compared to the net profit of 5.8 million dollars or 0.35 dollars per share for the same period of the fiscal year 2000. [By Newton]