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Satellite broadcaster Wowow Inc. on Wednesday said it remained in the red in the 2001 business year under the weight of initial investments in launching digital broadcasting services.

Wowow said it incurred a consolidated net loss of 2.14 billion yen in the year to March 31, down from 3.35 billion yen the previous year.

With the number of subscribers posting a year-on-year net increase of 0.6 percent to 2.67 million, the company chalked up a 6 percent rise in group operating revenues to 65.34 billion yen. Group pretax loss decreased to 1.95 billion yen from 3.26 billion yen the previous year.

Wowow launched digital broadcasting services in December 2000.

For the current year, the company expects to swing into the black, forecasting a pretax profit of 400 million yen and a net profit of 350 million yen on a consolidated basis. Group operating revenues are projected at 66.6 billion yen.

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