VVDB ViaVid Broadcasting Inc (GM)

ViaVid Broadcasting Inc. (OTCBB:VVDB), a provider of teleconferencing, web conferencing, transcription and support services, has announced its third quarter results for the three and nine-month periods ending December 31, 2005. For the quarter and nine months ended December 31, 2005, revenues were $355,165 and $1,004,115, respectively, compared to $258,732 and $739,128 in the comparable periods of the previous year. On an annual basis, revenues increased 37% for the quarter and 35.8% for the year-to-year nine-month periods. Sequential quarterly revenues in the quarter increased 7% from $330,774 in the second quarter to $355,165 in the third quarter. This is the seventeenth quarter of sequential revenue growth. Net income for the quarter was $4,081, or $0.00 per share, compared to a loss of ($8,035), or ($0.00) per share, in the same quarter last year. This is the first time in the Company's history that it has achieved an operating profit. Net loss for the first nine months of the fiscal year was ($17,289), or ($0.00) per share, compared to ($84,226), or ($0.01) per share, in the comparable prior period. For the quarter and nine months ended December 31, 2005, our operating expenses were $351,340 and $1,022,183, respectively, compared to 267,783 and $824,010 in the comparable periods of the previous year. The increased operating expenses are primarily the result of increased conferencing costs incurred from the increase in conferencing business. Cash and receivables at December 31, 2005 were $394,714, while Accounts Payable and accrued liabilities were at $392,081. Cautionary Statement: This press release includes "forward-looking statements" as defined under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties. Forward-looking statements made herein and elsewhere concerning VIAVID include, but are not limited to, our plans and objectives for our future operations, including plans or objectives relating to our services, our plans and objectives regarding revenues and expenses in future periods, our needs for capital expenditures, our ability to maintain our competitive position, our plans and objectives and needs to raise additional capital, the terms on which such capital can be raised, the period over which any capital available currently to us or raised in the future will be sufficient to meet our current or future levels of operating and other expenses, and our plans regarding the uses of that capital, as well as any other prospective financial information concerning us. We cannot assure you that we will be successful in growing our user and customer base as we plan, attracting companies to use our Internet-based communication services for the dissemination of their news information, realizing material amounts of webcasting or other revenues, achieving any commercial advantage relative to other financial news dissemination media companies or raising the additional capital required to support our operations or the terms and conditions on which such capital can be raised. If our assumptions are incorrect or our webcasting or other growth plans or plans to realize revenues or raise additional capital fail to materialize, we may be unsuccessful in developing as a viable business enterprise. Under such circumstance your entire investment will be in jeopardy and may be lost. Our business plan has evolved over time, and we expect that our plans will evolve further in the future. We caution you that various risk factors relating to our forward-looking statements are described, among other places, in our Annual Reports on Form 10K-SB, Quarterly Reports on Form 10-QSB, and our Current Reports on Form 8-K. These risk factors could cause our operating results, financial condition and ability to fulfill our plans to differ materially from those expressed in any forward-looking statements made in this press release and could adversely affect our financial condition and our ability to pursue our business strategy and plans. -0- *T VIAVID BROADCASTING INC. CONDENSED STATEMENTS OF OPERATIONS (Expressed in United States Dollars) (Unaudited) ------------------------------------------------------------------- ------------------------------------------------------------------- Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended December 31, December 31, December 31, December 31, 2005 2004 2005 2004 ------------------------------------------------------------------- REVENUE Income $ 355,165 $ 258,732 $ 1,004,115 $ 739,128 ----------- ----------- ----------- ----------- EXPENSES Amortization 5,594 5,804 16,040 16,642 Conference calls 174,002 138,231 452,700 353,547 Consulting 76,977 51,525 245,684 210,451 Interest - 1,126 - 3,433 Office and miscellaneous 53,364 41,649 177,653 128,954 Professional fees 13,285 5,717 49,431 38,904 Rent 8,939 4,869 26,114 13,119 Salaries and benefits 17,820 16,929 51,370 54,326 Travel and promotion 1,359 1,933 3,191 4,634 ----------- ----------- ----------- ----------- 351,340 267,783 1,022,183 824,010 ----------- ----------- ----------- ----------- Income (Loss) before other items 3,825 (9,051) (18,068) (84,882) OTHER ITEMS Gain on sale of property and equipment - 913 - 456 Interest income 256 103 779 200 ----------- ----------- ----------- ----------- Net income (loss) 4,081 (8,035) (17,289) (84,226) Other comprehensive loss (5,081) (17,475) (20,223) (23,859) ----------- ----------- ----------- ----------- Comprehensive income (loss) $ (1,000) $ (25,510) $ (37,512) $ (108,085) ------------------------------------------------------------------- ------------------------------------------------------------------- Basic and diluted loss per common share $ (0.00) $ (0.00) $ (0.00) $ (0.00) ------------------------------------------------------------------- ------------------------------------------------------------------- Weighted average number of shares of common stock outstanding 14,988,000 14,838,000 14,988,000 14,587,437 ------------------------------------------------------------------- ------------------------------------------------------------------- *T ViaVid Broadcasting Inc. (OTC Bulletin Board:VVDB)