Fourth quarter revenues increased 67% over same quarter in previous year. Both Entertainment and Advertising industries are cyclical and fourth quarter is always impacted by the holiday break, and this year was doubly impacted as hurricane Sandy hit early in November and many of the company's customers for both the record industry and the advertising industry based in NY were shut down for up to two weeks. Revenues still up over previous quarter.
Major deals recently announced including Latin Grammys, Emmys, USA Studios, and Pacific Media will all have major impact in second quarter and on. Karen Dealy is leaving for personal reasons, but is remaining with the company as a consultant until a replacement is found. This will have no impact on our ad business and all accounts have account managers in place and new business continues to be added.
The testimony by one of the company's newest customers says more that we could: