Vidaroo Corporation Announces Quarterly Results With Year Over Year Increase in Recurring SaaS Revenue of 88%
February 15 2012 - 9:00AM
Marketwired
Vidaroo (OTCQB: VIDA) (PINKSHEETS: VIDA) today announced its
operating results for the quarter ended December 31, 2011. Year
over year monthly recurring revenue received in the quarter
increased by 88% or $57,000 to $122,000. Production service revenue
remained steady for the quarter, allowing the increased
Software-as-a-Service revenue to directly contribute to an
improvement in Operating Margins of 22%, increasing to $335,000.
"Our ability to continue to grow points to our business vision
becoming fully realized and is a glimpse into what I believe the
future will hold for Vidaroo. If you look into the details of our
growth, the stories behind both of our lines of business are
remarkable. Our production business continues to work with many of
our ongoing blue-chip clients while expanding our client roster to
include new mega-stars like LMFAO. While significant capital to
spend on marketing was unavailable during this quarter, our
foresight and understanding of our business has still led to more
customer sales, while maintaining and growing our existing
business. We are clearly showing this company's ability for success
with tangible results," states Mark Argenti, Chairman and CEO.
"Increased commitments from historical clients along with new
client acquisition through a variety of channels, including our
affiliate model, vertical marketing and continued platform
proliferation demonstrates our continued growth during this past
quarter," notes Micheal Morgan, President and CTO. "With a
combination of on demand, live event and fully integrated ad
serving, Vidaroo provides a turnkey OVP that solves video
distribution needs for an ever growing number of industries such as
a digital TV network (KrazyGoodFoodTV.com), software/technology
maker (HSMWorks.com), e-commerce (Shaveroutlet.com) and faith-based
organizations (PaulaWhite.org)."
"The past quarter's incremental increase in revenue is
significant in the qualitative aspects related to our growth," said
Tom Moreland, CFO. "The growth we have experienced for our Online
Video Platform has come in multiple ways, which is clearly
demonstrative of growing a diverse revenue stream. With our revenue
growth in its early stages, we have clearly prepared ourselves for
growth capital. Once Vidaroo is able to resolve its debt issue, we
expect to insightfully acquire and deploy capital resources, which
we are well positioned to leverage."
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
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