StreamTrack Reports 2014 Q3 Fiscal Results
July 15 2014 - 9:00AM
Business Wire
StreamTrack, Inc. (OTCQB: STTK) ("StreamTrack" or the
"Company"), a digital media and technology services company
operating within the internet radio and streaming media sectors,
today announced results for its third fiscal quarter of 2014. The
quarter was highlighted by:
- An increase in advertising revenues to
$437,342 for Q3 2014 versus $348,904 for Q3 2013.
- A reduction in cost of revenue to
$308,483 for Q3 2014 versus $391,592 for Q3 2013.
- An increase in gross profit to $137,109
for Q3 2014 versus a loss of ($33,588) for Q3 2013.
- A reduction in operating expenses to
$426,008 for Q3 2014 versus $526,757 for Q3 2013.
- 13.5 cents revenue per listening hour
in Q3 2014 compared to 12.2 cents in Q3 2013, an increase of over
10%.
- 5,594 active radio stations as of
5/31/14, compared to 1,508 active stations as of 5/31/13, an
increase of over 350%.
- 30,643,853 video impressions served in
Q3 2014 compared to 21,155,568 in Q3 2013, an increase of over
40%.
Michael Hill, Chief Executive Officer of StreamTrack, stated,
"We are proud to report positive operational and financial trends.
The progress and numbers that we are reporting for Q3 2014 versus
Q3 2013 continue to show fundamental improvements. We have focused
our efforts on operational efficiency and we are now seeing the
results for the third consecutive quarter of 2014.” Hill continued,
“With the anticipated commercial releases of our new products, we
have begun to turn our focus towards mobile user engagement. We
intend to offer a full suite of mobile and internet entertainment
related products that support both audio and video streaming media.
We will continue to develop and manage products so that our
broadcasters, publishers and content owners can focus on growing
their audiences without the struggles of solving monetization and
technology related issues.”
About StreamTrack, Inc. StreamTrack, Inc. (the
"Company") is a digital media and technology services company. The
Company provides audio and video streaming and advertising services
through its RadioLoyalty™ Platform (the "Platform") to over 5,500
internet and terrestrial radio stations and other broadcast content
providers. The Platform consists of a web-based and mobile player
that manages streaming audio and video content, social media
engagement, display and video ad serving within the web player and
is also capable of replacing audio ads with video ads within the
web player in a live or on-demand environment. The Company offers
the Platform directly to its broadcasters and integrates or white
labels its technologies with web-based internet radio guides and
other web-based content providers. The Company is also continuing
development of WatchThis™, a patent-pending technology to provide
web, mobile and IP television streaming services that are
e-commerce enabled within streamed content.
For more information
visit: http://www.streamtrack.com or http://www.radioloyalty.com
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on
current expectations, estimates and projections about StreamTrack's
industry, management's beliefs and certain assumptions made by
management. Readers are cautioned that any such forward-looking
statements are not guarantees of future performance and are subject
to certain risks, uncertainties and assumptions that are difficult
to predict. Because such statements involve risks and
uncertainties, the actual results and performance of the Company
may differ materially from the results expressed or implied by such
forward-looking statements. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking
statements. Unless otherwise required by law, the Company also
disclaims any obligation to update its view of any such risks or
uncertainties or to announce publicly the result of any revisions
to the forward-looking statements made here. Readers should review
carefully reports or documents the Company files periodically with
the Securities and Exchange Commission.
Contact:StreamTrack, Inc.Michael Hill, +1 805-308-9151Chairman
and Chief Executive Officerir@streamtrack.com
StreamTrack, Inc.Michael Hill, +1 805-308-9151Chairman
and Chief Executive Officerir@streamtrack.com