$71,806 last year.

The figure is $232,651 below that of 1998, when the company reported a profit of $160,845 and a 25 cent earning per share. Revenue for 1999 was $3,660,197, compared to $4,016,524 in 1998 -- representing an 8.8 percent decline.

Expenses also fell by $154,546 to $3,868,528 for the year ended December 31, 1999. The broadcaster's total assets declined $23,987 to $5,734,006, while net assets rose $71,807 to $5,445,383.

Bermuda Broadcasting operates the ZFB-ABC and ZBM-CBS television stations, along with the radio stations FM 89.1, Power 95 FM, AM 1340 and AM 1230. The company has a market capitalisation of $3.6 million and last traded at $5.60 per share in March.

BUSINESS BUC