PHOENIX, Nov. 13, 2013 (GLOBE NEWSWIRE) -- QuoteMedia, Inc. (OTCQB:QMCI), a leading provider of market data and cloud-based applications, announced financial results for the three months ended September 30, 2013. These results reflect third quarter revenue of $2,395,733, up from $2,388,241 in the comparative period in 2012.
"While the bankruptcy of one of our larger clients, Penson Worldwide Inc., has had a large negative impact on our revenue, we are very pleased with the success we have had in adding new clients and growing existing relationships to help offset the loss of this major client," said Keith Guelpa, President of QuoteMedia, Inc.
"We anticipate a return to stronger revenue growth in 2014, as there are several exciting new partnership opportunities that we have closed, or that we expect to close in the near term, that should lead to significantly improved results in the new year."
About QuoteMedia
QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides data and services for companies such as the NASDAQ, the OTCBB, TMX Group, Dow Jones & Company, SunGard, U.S. Bank, Broadridge Financial Systems, Ridge Clearing, Regal Securities, JitneyTrade, Southwest Securities, HD Vest, Intrinsic Research Systems, Stockhouse, Zacks Investment Research, General Electric, Dow Chemical, Bombardier, Business Wire, PR Newswire, Marketwire, FolioFN, ChoiceTrade, Qtrade Financial, CNW Group, Schaeffer's Investment Research, Brean Capital, TradeKing, Suncor, American Financial Group, Virtual Brokers, First Financial Equity Corporation, InvestorGuide.com, Stock-Trak and others. For more information, please visit: www.quotemedia.com.
Statements about QuoteMedia's future expectations, including future revenue, earnings, and transactions, as well as all other statements in the press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. QuoteMedia intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are identified from time to time in the Company's SEC reports and filings, and are subject to change at any time. QuoteMedia's actual results and other corporate developments could differ materially from that which has been anticipated in such statements.