Andiamo Corporation (OTC: ANDI) Exceeds Quarterly Profit Estimates
(firmenpresse) - ST PETERSBURG, FL -- (Marketwire) -- 09/14/11 -- Andiamo Corporation (PINKSHEETS: ANDI) reports that it exceeded quarterly estimates for Q4 and announces a swing to EBITDA profitability for the quarter ending July 31, 2011.
Quarterly highlights of Q3 vs. Q4:
Gross Income increase from $424,878 (Q3) to $659,004 (Q4) an increase of 55%
Gross Profit increase from $292,846 (Q3) to $462,587 (Q4) an increase of 57%
EBITDA profits for the quarter ended July 31, 2011 of $77, 379.
"We are very excited about the continued profitability of our popular Smartphone App Companies. Total downloads (free and paid) now exceed 6.8 million downloads. Action App Corporation currently has 9 Apps in the top 100 of their categories. We have several new apps under development that we look to deploy over the next 6 weeks," said Dustin Secor, CEO of ANDI.
"Previously, we announced that this should be our first EBITDA profitable quarter since becoming a publicly traded company and we are pleased to exceed the previously projected estimate of $62,500 for the quarter. We believe that becoming a profitable company will add to shareholder value and support our commitment to company growth. The current share structure remains unchanged from our 7/31/11 filing," added Mr. Secor.
Safe Harbor Statement
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.
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Datum: 14.09.2011 - 16:37 Uhr
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News-ID 66008
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ST PETERSBURG, FL
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