Today EMI announced its results for the first half of 2006. (Read press release.) It wasn't pretty. The company recorded a loss of £30.6 million versus a gain of £36.7 million last year. The previously reported accounting scandal in Brazil resulted in a one-time charge of £9 million.

Revenue was down 4.1% (constant currency) over last year. EMI Music revenues were down 5.2% (constant currency) while EMI Music Publishing were in line with last year. Its operating profit rose 5.8%.

Digital revenues represent 8.5% of EMI's total revenues and 5.6% of the publishing division's revenue.

EMI spent £6.2 million related to the "potential acquisition of Warner Music Group."

Oddly, Reuters has an article titled "On-song Robbie, Norah boost EMI." While EMI is pubicly upbeat about its fourth quarter schedule, a Bridgewell analyst is keeping his rating at "neutral." Smart. It would take three Colplay albums -- not a Robbie Williams and a Norah Jones -- to catch up. EMI should be feeling the pressure to get the Beatles' catalog into digital stores. It desperately needs a spark, and I get the sense that the market feels the digital age will not come of age until the Beatles are online.