November 10, 2008

By By Chris M. Walsh, N.Y.

The Orchard closed its third quarter with revenues of $14.6 million, which was up from $6.7 million (118%) from the same quarter last year, and cut its net loss to $59,000, down from a $3 million loss in the corresponding 2007 quarter. The company's loss per share was cut to $0.01 from $1.13. Overall, 8% of revenue came from TVT, which the Orchard acquired earlier this year.

The Orchard's paid downloads and tracks offered grew from year to year as well. The paid downloads hit approximately 12.5 million in the quarter, up 133% from the prior year. And the company offered 1.3 million tracks at the end of the quarter, up 72% from the same point in 2007.

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