Discount ticket seller Tix Corp. widened its net loss in the first quarter as its revenue also decreased. The Studio City company, which operates ticket kiosks in Las Vegas, reported on Tuesday a net loss of $717,000 (-4 cents a share) on revenue of $3.1 million for the quarter ending March 31. That compares to a net loss of $58,000 (0 cents) on revenue of $4.3 million in the same period a year earlier. No analysts follow the company. Tix attributed the decrease in revenue to “increased aggressive competition from online ticket sellers, show producers, and hotel properties,” in a release on the quarterly earnings. That includes MGM opening its own discount ticket booths at its hotel properties in Las Vegas and restricting Tix’s ability to sell certain Cirque du Soleil tickets; and a sustained decline in tourism in the city following the Oct. 1 mass shooting on the Strip that killed 58 people and injured another 851. Shares in Tix (TIXC) fell 5 cents, or more than 16 percent, to 25 cents on the over-the-counter market. ImmunoCellular Therapeutics Ltd. narrowed its losses during the first quarter, the company announced Tuesday. The Westlake Village biotech reported a net loss of $1 million (-2 cents a share) for the quarter ended March 31, compared to a loss of $5.9 million (-$1.67 a share) for the same period a year ago. The company had no revenues. No analysts follow ImmunoCellular. “The company continues to seek favorable payment terms with its creditors and reduced its current liabilities by almost $900,000 during the quarter. … As of March 31, 2018, the company had approximately $5 million in cash,” the company said in a statement. Shares of ImmunoCellular (IMUC) closed Wednesday unchanged at 28 cents a share on the NYSE American exchange.
Earnings: Tix, ImmunoCellular