VRX Worldwide Reports 2012 Annual Results
- VRX Significantly Reduces Operating Costs, Returning to Annual Profitability - EBITDA and Profit Increase $701,000 and $632,000 respectively - MediaValet's Feature Set and Customer Base Continue to Grow with Release of v2.0 in Late Q4 - VRX Studios' Expansion into Global Markets Continues Through its Core Hospitality Customers
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/30/13 -- VRX Worldwide Inc. (TSX VENTURE: VRW), a global provider of photography, content hosting, distribution and licensing, and cloud-based digital asset management services, is pleased to report it's annual and fourth quarter results for 2012.
Total revenue for the fourth quarter of 2012 decreased 5% ($48,235) from the third quarter of 2012 and increased 28% ($193,127) over the fourth quarter of 2011. The slight sequential decrease and the year over year increase in quarterly revenue is due to a higher percentage of high-end lifestyle and food and beverage projects offsetting VRX's year end seasonal downturn.
"2011 and 2012 were extremely tough yet rewarding years. We weathered the worst of the global economic downturn by continuing to reduce operating costs and prepared for the future by investing in cloud-based digital asset management technology," commented David MacLaren, President and CEO of VRX Worldwide. "We've achieved great success with VRX Studios over the years and survived where many have not. We've transitioned from solely licensing destination content, to providing exclusive production services to Expedia, to opening up our production services to all hospitality providers. Today, thirteen years later we're seeing tremendous growth opportunities for VRX Studios in global markets and the demand for MediaValet escalate as the need for enterprise class digital asset management services continues to grow."
The full financial statements and related MD&A are now available on the Company's website () and on SEDAR ().
ABOUT VRX Worldwide Inc.
Through a decade of growth, innovation and an unwavering commitment to quality, consistency and customer service, VRX Worldwide is one of the world's leading providers of content production, management, distribution and licensing services. To find out more about VRX Worldwide, its products and services, visit , and . VRX Studios Inc., is a wholly owned subsidiary of VRX Worldwide Inc. (TSX VENTURE: VRW).
VRX Worldwide Inc.,
David MacLaren, CEO
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VRX Worldwide Inc.
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888.605.0059
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Datum: 30.04.2013 - 23:46 Uhr
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