EX-99.1
2
ex99-1_051309.txt

COMTEX NEWS NETWORK, INC.                              Release:  IMMEDIATE
                                                       For:  Comtex News Network
                                                             (Symbol:  CMTX)

Contact:       Amber Gordon
               agordon@comtex.com
               703-797-8011

                COMTEX REPORTS THIRD QUARTER FISCAL 2009 RESULTS

NEW YORK, NY, May 13, 2009 - Comtex News Network, Inc. (OTC BB: CMTX), a leading
provider of economically useful electronic real-time news, content and
SmarTrend(R) market products, today announced financial results for its third
fiscal quarter and the nine month period ended March 31, 2009.

     Comtex reported revenues of $1.5 million, an operating loss of ($50,000)
and a net loss of ($33,000), or $0.00 per share, for the third quarter ended
March 31, 2009, compared to revenues of $1.8 million, operating income of
$232,000, and net income of $244,000, or $0.02 per share, for the three months
ended March 31, 2008. The decrease was primarily due to reduced customer
spending caused by industry consolidations and current economic conditions, plus
marginal increases in sales and marketing expenses.

     For the nine months ended March 31, 2009, Comtex reported revenues of $4.8
million, $24,000 of operating income, and net income of $39,000, or $0.00 per
share, compared to revenues of $5.4 million, $797,000 of operating income and
net income of $754,000, or $0.05 per share, for the nine months ended March 31,
2008. The decrease in net income was primarily due to the reduced revenues
caused by industry consolidations coupled with a one time pick up of revenue of
approximately $181,000 from prior periods recorded in the nine months ended
March 31, 2008. Net income for the period ended March 31, 2009 also reflected an
increase in operating expenses, offset by the extinguishment of an accrued
liability of $138,000 in October 2008.

     For the nine months ended March 31, 2009, EBITDA (as defined and explained
in the accompanying note to the table below), excluding the effects of
stock-based compensation, was $147,000 compared to EBITDA of $858,000 for the
nine months ended March 31, 2008. The decrease in EBITDA was primarily due to
reduced revenues, as discussed above, and increased operating expenses mainly in
technical operations, sales, and marketing.

     Chip Brian, Comtex's President and CEO, stated, "Our third quarter results
were consistent with our expectations and continued to be impacted by
contracting budgets among certain of our customers. During these difficult
economic conditions, the strength of our business model allows us to manage the
short term challenges our business faces, while continuing to build and
strengthen our growing SmarTrend product line and customer base."





Comtex Announces 3rd Quarter Results                                      Page 2
May 13, 2009


About Comtex

Comtex (www.comtex.com) provides real-time news, Comtex SmarTrend(R) Alerts and
economically useful information. Comtex customers receive select content from
key sources which is further enhanced with stock tickers and an extended lexicon
of relevant terms. With a specialization in the financial news and content
marketplace, Comtex receives, enhances, combines and filters news and content
received from national and international news bureaus, agencies and
publications, and distributes more than one million total stories per day.
Comtex's state-of-the-art technology delivers this relevant content and reliable
service in real-time. Comtex also provides several proprietary SmarTrend Alert
products to investors, including a daily stock market letter (Morning Call),
selected stock news (SmarTrend Spotlights), market analysis and its flagship
product, SmarTrend Alerts (via subscription at www.mysmartrend.com). Comtex has
offices in New York City; Boston, Massachusetts; and Alexandria, Virginia.

SmarTrend(R) is a registered trademark of Comtex News Network, Inc.


                            FINANCIAL TABLE FOLLOWS





Comtex Announces 3rd Quarter Results                                      Page 3
May 13, 2009

Comtex News Network, Inc. Selected Financial Data (unaudited / amounts in thousands, except per share amounts) Three Months Nine Months Ended March 31 Ended March 31 --------------------------------- --------------------------------- 2009 2008 2009 2008 --------------------------------- --------------------------------- Revenues $ 1,492 $ 1,770 $ 4,808 $ 5,426 Operating (Loss) Income (50) 232 24 797 Net (Loss) Income $ (33) $ 244 $ 39 $ 754 --------------------------------- --------------------------------- Earnings Per Share: Basic and Diluted $ 0.00 $ 0.02 $ 0.00 $ 0.05 --------------------------------- --------------------------------- Weighted Avg. # Shares: Basic 15,446 15,294 15,583 15,294 --------------------------------- --------------------------------- Diluted 15,446 15,460 15,653 15,467 --------------------------------- --------------------------------- Reconciliation to EBITDA: Net (Loss) Income $ (33) $ 244 $ 39 $ 754 Stock-based compensation - - 35 3 Depreciation and Amortization 30 19 88 59 Interest/Other (Income) Expenses, net (18) (12) (29) 37 Income Taxes, net 1 - 14 5 --------------------------------- --------------------------------- EBITDA $ (20) $ 251 $ 147 $ 858 --------------------------------- ---------------------------------
Please Note: EBITDA consists of earnings before stock-based compensation, debt conversion expense, interest expense, interest and other income, unrealized and realized gains (losses) in marketable securities, income taxes, and depreciation and amortization. EBITDA is not a term defined by U.S. generally accepted accounting principles, and as a result, our measure of EBITDA might not be comparable to similarly titled measures used by other companies. However, we believe that EBITDA is relevant and useful information, which is often reported and widely used by analysts, investors and other interested parties in our industry. Accordingly, we are disclosing this information to permit a more comprehensive analysis of our operating performance. Also Please Note: Except for the historical information contained herein, this press release contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, that involve a number of risks and uncertainties. These forward-looking statements may be identified by reference to a future period by use of forward-looking terminology such as "anticipate," "expect," "could," "intend," "may" and other words of a similar nature. These statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated herein, including the occurrence of unanticipated events or circumstances relating to the fact that Comtex is in a highly competitive industry subject to rapid technological, product and price changes. Other factors include the possibility that demand for the Company's products may not occur or continue at sufficient levels, changing global economic and competitive conditions, technological risks and other risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Comtex undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. # # #

The following information was filed by Comtex News Network Inc (CMTX) on Wednesday, May 13, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Comtex News Network Inc's financial trajectory

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