Destiny Media Technologies, Inc. Announces Fourth Quarter and Fiscal Year 2013 Results
(firmenpresse) -
Destiny Media Technologies, Inc. Announces Fourth Quarter and Fiscal Year 2013 Results
Vancouver, BC – November 25, 2013 – Destiny Media Technologies (TSXV: DSY) (OTCQX: DSNY), the makers of Play MPE®, a system for the secure distribution of pre-release music to radio and the developer of Clipstream®, a new cross-platform playerless video streaming format, today announced its financial results for the fourth quarter and fiscal year ended August 31, 2013.
Net income for the fourth quarter was $26,171, or $0.00 per diluted share, versus net income of $185,560, or $0.00 per diluted share, in the prior year quarter. Net income for fiscal 2013 was $226,014 versus $563,003 in the prior fiscal year. The prior year’s results were aided by a $694,000 net recovery of litigation costs that did not recur this year.
Service revenue for the fourth quarter was $860,974, versus $941,426 during the prior year quarter. Service revenue for fiscal 2013 was $3.7 million, versus $4.0 million in the prior fiscal year. As previously discussed, the year-over-year decrease in revenue was primarily related to a multi-year renewal of agreements with the Company’s largest customer. While the renewal temporarily affected revenue during the second half of the fiscal year, it is expected to facilitate an increase in usage and global expansion.
“We have completed the development and will be rolling out our first service powered by Clipstream® technology in the coming weeks,” said Steve Vestergaard, Chief Executive Officer of Destiny Media Technologies. “We are very excited about reaching this major milestone. With its compelling value proposition, Clipstream® has the potential to change the way video is delivered over the Internet.”
Fourth Quarter and Fiscal 2013 Earnings Conference Call
Destiny Media Technologies will host a conference call at 5:00 p.m. ET (2:00pm PT) on November 25, 2013, to further discuss its fourth quarter and fiscal 2013 results. Investors and interested parties may participate in the call by dialing (416) 764-8688 or (888) 390-0546 and referring to conference ID #54209213. A written transcript and archived stream will subsequently be made available on Destiny's corporate site at http://www.dsny.com in the Company's proprietary Clipstream® format.
About Destiny Media Technologies, Inc.
Destiny Media Technologies (DSY.V) (DSNY) provides services that enable content owners to securely display and distribute their audio and video content digitally through the internet. The Company's two major services are Clipstream® and Play MPE®. Clipstream® (www.clipstream.com) is a video format that plays on any modern smart phone, tablet, internet, TV, or computer. With Clipstream®, there is no player to configure or install, videos never go obsolete, and there are up to 90% cost savings from caching. Play MPE® (www.plaympe.com) provides a standardized method to securely and cost effectively distribute pre-release music to radio stations and other music industry professionals, before it is ready for sale. More information can be found at www.dsny.com.
Forward-Looking Statements
This release contains forward-looking statements that reflect current views with respect to future events and operating performance. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in these forward-looking statements. Destiny Media Technologies is not obligated to update these statements in the future. For more information on the Company's risks and uncertainties relating to those forward-looking statements, please refer to the Risk Factors section in our Annual Form 10-K ending August 31, 2012, which is available on www.sedar.com or www.sec.gov.
Destiny Media Technologies, Inc.
CONDENSED STATEMENT OF OPERATIONS
(Expressed in United States dollars)
Unaudited
To view the entire press release please follow the link:
http://www.irw-press.com/dokumente/DestinyMedia_261113_English.pdf
Destiny Media Technologies, Inc.
CONSOLIDATED BALANCE SHEETS
(Expressed in United States dollars)
Unaudited
To view the entire press release please follow the link:
http://www.irw-press.com/dokumente/DestinyMedia_261113_English.pdf
Contacts:
Fred Vandenberg
CFO, Destiny Media Technologies, Inc.
604 609 7736 x236
Investor Relations:
Dave Mossberg
Three Part Advisors
817-310-0051
Leseranfragen:
DESTINY MEDIA
Address:
#800 - 570 Granville St.
Vancouver, B.C. Canada
V6C 3P1
General
1-800-8-DESTINY
1-800-833-7846
Phone (604) 609-7736
Fax (604) 609-0611
Investment Inquiries
Steve Vestergaard (CEO)
(604) 609-7736 ext. 222
Fred Vandenberg (CFO)
(604) 609-7736 ex.236
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Sprache: Deutsch
News-ID 320274
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Kategorie:
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