DENVER, Nov. 16, 2010 (GLOBE NEWSWIRE) -- Roomlinx, Inc. (OTCBB:RMLX), the innovative developer of hotel interactive TV applications, announced results for the third quarter of 2010 and nine months ended September 30, 2010.
Financial Highlights
- Q3 revenue of $1,282,180 -- up 131 percent over same period of 2009
- Q3 gross profit of $236,727 -- up 37 percent over same period of 2009
- Q3 Media & Entertainment recurring revenues increased 346 percent over same period of 2009
- Year to date revenue of approximately $2,700,000 -- up 60 percent over same period of 2009
- Year to date gross profit of $661,816 -- up 28 percent over same period of 2009
"In a down economy we continue to gain new customers," stated Michael Wasik, CEO of Roomlinx. "We will continue to focus on customer acquisitions that increase our recurring revenue streams and overall shareholder value."
Third Quarter of 2010 and Nine Months Ended September 30, 2010 Operating Results:
Roomlinx's reported revenues for the third quarter of 2010 and nine months ended September 30, 2010 were $1,282,180 and $2,656,455, respectively. This third quarter increase of 131% over the same period of 2009 numbers is primarily due to increased installations and recurring revenue streams of the media and entertainment products (iTV) and is continued validation of the shift in efforts toward maximizing revenues and profits resulting from the iTV offering.
Roomlinx's gross profit for the third quarter of 2010 and nine months ended September 30, 2010 was $236,727 and $661,816, respectively. This third quarter increase of 37% over the same period of 2009 numbers is primarily due to revenue from increased sales of goods and services, partially offset by the increased cost of goods sold.
Net loss for the third quarter of 2010 and nine months ended September 30, 2010 was $371,726 and $1,085,028, respectively, compared to a net loss of $436,973 and net loss of $2,645,126 for the third quarter of 2009 and nine months ended September 30, 2009, respectively. A non-cash derivative loss of $1,409,356 in the nine months ended September 30, 2009 strongly impacted the 2009 results.
Net loss, excluding non-cash items, was $281,678 and $859,017 for third quarter of 2010 and nine months ended September 30, 2010, respectively, compared to a net loss of $456,086 and $883,803 for the third quarter of 2009 and nine months ended September 30, 2009, respectively. These improved results are primarily due to a slight increase in operating expenses from 2009 to 2010 being offset by an increase in 2010 revenues.
About Roomlinx, Inc.
Roomlinx is a leading provider of Interactive TV products and premium digital video on demand systems for hotels, resorts, and other properties, utilizing premium content and applications demanded by today's traveler. For more information about Roomlinx, visit www.roomlinx.com.
Safe Harbor Cautionary Statement
Certain statements in this news release, including statements that we "believe," "expect," "intend," "plan" or words of similar import, are forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans, new products and services and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: the company's successful implementation of the new products and services, demand for the new products and services, the company's ability to successfully compete against competitors offering similar products and services, general economic and business conditions; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of the Company's Securities and Exchange Commission filings available at http://www.sec.gov, which you should carefully review. Roomlinx does not assume any obligation to update or revise any forward-looking statements, whether as the result of new developments or otherwise