PHOENIX, Aug. 14, 2015 (GLOBE NEWSWIRE) -- QuoteMedia, Inc. (OTCQB:QMCI), a leading provider of market data, financial web content solutions and cloud-based applications, announced financial results for the three months ended June 30, 2015. These results reflect second quarter revenue of $2,203,079, down from $2,278,956 in the comparative period in 2014. This represents a decrease of 3% ($75,877).
"The devaluation of the Canadian dollar as compared to the US dollar had a significant negative impact on our results this quarter, as approximately, 27% of our total revenues are billed in Canadian dollars," said Keith Guelpa, President of QuoteMedia, Inc. "Had the average exchange rates been the same, our revenues for this quarter would have been slightly higher than those reported for the comparable quarter in 2014.
"While the relative strength of the Canadian dollar is out of our control, and may continue to negatively affect our revenues moving forward, we are very excited about the direction we are taking. We have several new product lines that we are launching soon and we are currently working with several new and existing clients on implementation. We are looking forward to all that we will be taking to market in the coming months, as well as the new business partnerships and opportunities currently in the works."
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 Stock Exchange, TMX Group (TSX Stock Exchange), Dow Jones & Company, SunGard, U.S. Bank, Broadridge Financial Systems, Ridge Clearing, JP Morgan, JitneyTrade, Southwest Securities, IBM, HD Vest, Intrinsic Research Systems, ING Investment Management, Stockhouse, Zacks Investment Research, General Electric, Dow Chemical, Boeing, Bombardier, Business Wire, PR Newswire, Marketwired, FolioFN, ChoiceTrade, Qtrade Financial, Jordan Capital, CNW Group, Schaeffer's Investment Research, Brean Capital, TradeKing, Suncor, Nexa Technologies, American Financial Group, Virtual Brokers, Captivate Network, Leede Financial, Motif Investing, First Financial, 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.