DENVER, Aug. 15, 2011 (GLOBE NEWSWIRE) -- Roomlinx, Inc. (OTCBB:RMLX), the innovative developer of hotel interactive TV applications, today announced three and six month financial performance for the periods ended June 30, 2011, which reflect ongoing increased revenues and gross profits, as well as the contribution of Canadian Communications.
Operating Results for the Three and Six Months Ended June 30, 2011:
Roomlinx's revenues for the three and six months ended June 30, 2011 were $1,358,931 and $2,782,103 respectively. This represents increases of 39% and 102%, respectively, over the same periods in 2010. Roomlinx's gross profit for the three and six months ended June 30, 2011 were $431,521 and $893,551, respectively. This represents improvements of 45% and 110%, respectively, over the same periods in 2010. These improvements are primarily due to revenue resulting from property installations and higher recurring revenue streams from the Interactive TV platform as well as the revenue streams acquired through the acquisition of Canadian Communications, which were not present in the prior year periods.
Net losses for the three and six months ended June 30, 2011 were $759,479 and $1,296,847 respectively, compared to net losses of $337,067 and $713,302 for the same periods in 2010. The increases in net losses reflect the significant increase in depreciation expense resulting from the 2010 acquisition of Canadian Communications and the effect of incentive compensation expense to attract key personnel who are integral to continued R&D enhancements of the iTV platform and the development of a strong scalable foundation to support growth opportunities.
"Roomlinx's solid revenue growth is an endorsement that our products and services are clearly what hotels and hotel guests want," stated Mike Wasik, CEO of Roomlinx. "We will continue to invest in the resources required to meet growing demand and to position Roomlinx as the industry leader. Our marketing and installation of the iTV product continues to proceed as planned," stated Wasik.
About Roomlinx, Inc.
Roomlinx is a leading provider of Interactive TV applications and premium media and entertainment content for hotels, resorts, and timeshare properties. 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.