Tix Corporation - Looking to Rebound in 2010 - (NASDAQ - TIXC)

Tix Corporation (NASDAQ: TIXC), a leading integrated entertainment company providing discount and premium ticketing services, event and branded merchandising, and production/promotion of live concert and theatrical events, today reported financial results for the 4th quarter and full year of 2009. The company experienced growing revenues and a shrinking net loss for both the 4th quarter and year in general.

Financial Highlights

1. 4th quarter revenues increased 24.2% to $25.7M - Revenues for the year advance 18% to $81.8M
2. The Company repurchased 1,326,000 shares of its common stock in the fourth quarter of 2009
3. 4th quarter net loss narrows to $0.04/diluted share, compared with $1.02/diluted share, for 4th quarter 2008 - 2009 net loss declines to $0.02/diluted share compared with $1.08/diluted share in 2008
4. The Company generated $6.2M of cash flow from its operations

The company bought back stock at a price of $1.55 and management feels at even this price the stock is underpriced. As early as October of 2009 this stock was a $4/share and it is speculated that a major holder had a margin call and dumped a large portion of TIXC which started the downward spiral.

One major business transaction that took place recently was the acquisition of All Access a discount ticket service with five facilities in Las Vegas. The acquisition will enable to company to reach more customers with top-notch Vegas shows. TIXC gave guidance that this could increase gross ticket sales to $100M.

Lastly The United States Patent and Trademark Office has awarded and issued the Company a United States patent on a "Ticket Distribution System." This is a brand new patent so there was not much information on it but it is worth keeping an eye on.

Once again the company is optimistic about 2010, if we see a decent economic recovery these guys could see a bump in stock price especially with Vegas coming back to life. Furthermore, with the extra cash on hand management sees more opportunities to buy back stock and get this thing priced where it should be.