AudioEye to Report Profitable Second Quarter on Record Revenue of Approximately $3.0 Million
July 02 2014 - 8:00AM
Marketwired
AudioEye to Report Profitable Second Quarter on Record Revenue of
Approximately $3.0 Million
Second Quarter Revenue Increases Approximately 200% vs. $1.0
Million in First Quarter Revenue
TUCSON, AZ--(Marketwired - Jul 2, 2014) - AudioEye®, Inc.
(OTCQB: AEYE) ("AudioEye"), creator of the Audio Internet®
patented audio browsing and automated publishing technology
platform, today announced that the Company expects to report record
operating results for the second quarter of 2014. The highlights of
AudioEye's record-breaking quarter are reviewed below:
- The Company expects to report approximately $3.0 million in
revenue for the three months ended June 30, 2014. This
compares with approximately $0.2 million in the prior-year quarter
and represents an approximate 200% increase relative to revenue of
$1.0 million in the quarter ended March 31, 2014.
- The annualized revenue "run rate" for the most recent quarter
approximated $12 million.
- Revenue for the first half of 2014 and 2013 approximated $4.0
million and $0.4 million, respectively.
- Management expects revenue to exceed the Company's previous
guidance of $8 million for the year ending December 31, 2014.
- Approximately $1 million in contracts were secured with leading
national health care companies.
- The Company executed licenses for its technology with
organizations involved in the consumer packaged goods (CPG), retail
and coupon, and online jobs posting verticals during the second
quarter of 2014.
- Based on the information above, the Company is pleased to
announce that it expects to be profitable for the quarter ended
June 30, 2014.
- The Company is engaged in a pilot program to audio-enable
websites for one of the largest telecommunications companies in the
U.S.
- The Company has identified opportunities and is involved in
discussions with over 50% of the federal government agencies
regarding the procurement of its services.
- The Company has identified opportunities and is involved in
early discussions with numerous state, local and municipal
governments for the procurement of its services.
- The Company has obtained scope of work parameters and
identified business opportunities with multiple professional sports
teams/leagues, one of the largest biopharmaceutical companies in
the U.S., and dozens of other enterprises that are expected to
result in contract signings over the next several months.
- The Company upgraded its platform technologies to introduce the
proprietary Real-Time Auto-Discovery & Enablement
feature, which allows AudioEye to greatly streamline the onboarding
process while providing additional solution flexibility.
"We believe that AudioEye's technology is becoming the de
facto standard within the field of Internet accessibility,"
observed Nathaniel Bradley, Chief Executive Officer of AudioEye,
Inc. "Revenue growth is an indicator that we are achieving our
mission as a team. The Company is on pace to exceed our
previous revenue guidance of $8 million for the full year, and we
believe AudioEye is in the early stages of the large-scale adoption
of our technologies by federal, state and local governments in the
U.S. and abroad."
About AudioEye, Inc.
Incorporated in 2005, AudioEye focuses on working to improve the
mobility, usability and accessibility of all Internet-based content
through the development, sale, licensing and use of its proprietary
accessibility technologies. Audio Internet® is a
technology that utilizes patented architecture to deliver a fully
accessible audio equivalent of a visual or mobile website in a
compliant format that can be navigated, utilized, interacted with
and transacted from, without the use of a monitor or mouse, by
individuals with visual impairments. For individuals with hearing
impairments, the Audio Internet® provides captioning for
websites, and the challenges of reaching those with other
impairments are also addressed by the technology platform.
Complete with an ever-growing suite of utilities tailored to the
needs of different disabled users, the AudioEye® Audio
Internet® Accessibility Platform is a fully scalable
cloud-based solution designed and developed to meet the needs and
compliance mandates for an ever-growing demographic.
AudioEye's common stock trades on the OTCQB under the symbol
"AEYE". Please visit www.audioeye.com for more information.
Forward-Looking
Statements
This release includes
forward-looking statements contained within Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements
regarding AudioEye's expected future financial position, results of
operations, cash flows, financing plans, business strategy,
products and services, competitive positions, growth opportunities,
plans and objectives of management for future operations, as well
as statements that include words such as "anticipate," "if,"
"believe," "plan," "estimate," "expect," "intend," "may," "could,"
"should," "will," and other similar expressions, are
forward-looking statements. All forward-looking statements involve
risks, uncertainties and contingencies, many of which are beyond
AudioEye's control, which may cause actual results, performance, or
achievements to differ materially from anticipated results,
performance, or achievements. Factors that may cause actual results
to differ materially from those in the forward-looking statements
include those set forth in AudioEye's Form 10-K and other report
filings with the SEC. AudioEye is under no obligation to (and
expressly disclaims any such obligation to) update or alter its
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contact: For further information, please contact: Nathaniel
Bradley CEO AudioEye, Inc. (866) 331-5324 or RJ Falkner &
Company, Inc. Investor Relations Counsel (830) 693-4400 Email
Contact
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