Bumped And Spiked: AVP Parent Sees Financial Losses In Q2

AVP Serves Up $2M Loss In Q2 ‘05

L.A.-based AVP Inc., the parent company of the AVP, lost $2.02M, or $0.04 per share, for Q2 ’05, compared to a profit of $406,689, or $0.01 per share, in the year ago period, according to the L.A. BUSINESS JOURNAL. Revenues for the quarter were $4.3M, down from $5.5M a year ago, and event costs and operating expenses totaled $6.3M, compared with $5.1M a year ago. For the recently-completed six-month period, the company lost $6.9M, or $0.15 a share, on $4.4M in revenue. In the year ago period, the company lost $560,734, or $0.02 a share, on $5.6M in revenue. But AVP CEO & Commissioner Leonard Armato indicated in a statement that he is “encouraged that the company will continue growing, both in ticket sales and sponsorships,” pointing out recent deals with Herbalife, McDonald’s, Quiksilver and Gatorade (BIZJOURNALS.com, 8/15).