The acquisition of additional discount ticket selling booths contributed to Tix Corp. posting positive results in the third quarter compared to the same period a year ago.
The Studio City-based ticket seller and merchandiser reported net income of $666,000, or $0.03 per diluted share, on revenues of $9.5 million for the quarter ending Sept. 30. For the same period in 2010, the company had a net loss of $3.3 million, or $0.11 per diluted share, on revenues of $8.3 million.
Tix operates discount ticket booths for live shows and dinners in Las Vegas and has a merchandising division related to museum exhibits and other events.
Third quarter revenues from the discount tickets was $7.1 million, a 20 percent increase from the $5.9 million in the third quarter of 2010. The company attributes the increase to a purchase of two discount ticket booths from Vegas.com.
For the first nine months of the fiscal year, Tix reported net income of $2.2 million, or $0.09 per diluted share, on revenues of $26 million. That is an improvement from the first nine months of 2010 when Tix reported a net loss of $4.6 million, or $0.15 per diluted share, on revenues of $22.5 million.