All you need to know from that press release and the conference call was summariezed by the new CEO, "We are beginning to see the results of the extensive restructuring and cost-reduction work that we began implementing in last year's fourth quarter. These initiatives allowed us to offset all but $1.4 million of the nearly $17 million revenue decline and led to improved margins in our TV and digital businesses, despite a lower revenue base."

In other words:

--We're firing people left and right, leaving everyone else to handle the same workload.

--We aren't making more money. We're just less unprofitable because we stopped spending so much money.

--I forgot that the supply and demand graph was an "X," not a hyperbola.