Vidaroo Corporation Announces Quarterly Results With Year Over Year Increase in Recurring SaaS Revenue of 183%
November 15 2011 - 7:00AM
Marketwired
Vidaroo (OTCQB: VIDA) (PINKSHEETS: VIDA) today announced its
operating results for the quarter ended September 30, 2011. Year
over year monthly recurring revenue received in the quarter
increased by 183% to $119,000. Consolidated revenue decreased by
$216,000, year over year due to lower production. While production
revenue decreased, the Company was able to reduce its Operating
Loss from the prior year.
"We are very pleased with our continued progress, as the growth
in recurring revenue is exactly the outcome we have been working
towards," indicated Mark Argenti, Chairman and Chief Executive
Officer. "This performance is a clear indication of our ability to
grow and scale in a manner that will produce a stable ongoing
revenue stream."
"As we continue to move forward in growing our SaaS business,
the Company has made its capital structure a high priority in the
current quarter," stated Tom Moreland, Chief Financial Officer.
"Being able to come to agreeable terms with our creditor group will
be a major milestone and allow the Company to continue to focus on
building business fundamentals and ultimately shareholder
value."
About Vidaroo Corporation
Vidaroo Corporation is a video technology company that provides
a best-in-breed Online Video Platform, and state of the art Video
Production. Vidaroo's Online Video Platform, and Video Production
has earned the trust of a growing list of current and former
clients including advertising agencies, iconic artists, media
companies, organizations, businesses, and national brands such as
Microsoft, Coca-Cola Company, Tribune News Company, Toyota, Emmis
Communications, Clear Channel, Black Eyed Peas, Mary J. Blige,
Britney Spears, Justin Timberlake and more. Vidaroo's Online Video
Publishing Technology enables firms to easily create, deliver and
monetize video and advertising delivery.
Some of the above statements may be 'forward-looking' statements
as defined by section 27A(c)(1)(A)(i) of the Securities Act of
1933.
See Vidaroo.com for a full safe harbor disclosure statement.
Contact: Vidaroo Corporation Tom Moreland Email
Contact
Vidaroo (CE) (USOTC:VIDA)
Historical Stock Chart
From Jul 2024 to Aug 2024
Vidaroo (CE) (USOTC:VIDA)
Historical Stock Chart
From Aug 2023 to Aug 2024