Andiamo (OTC: ANDI) Stock Price Climbs on Quarterly Profits
(firmenpresse) - ST. PETERSBURG, FL -- (Marketwire) -- 09/14/11 -- Andiamo Corporation (PINKSHEETS: ANDI)
With the release of an EBITDA profitable quarter, ANDI was up nearly 37% as of 2:20 today with around 40,000,000 shares trading hands.
ANDI shares were up nearly 300% in the last 45 days.
ANDI reported a profitable quarter of $77,000 (EBITDA) on quarterly revenues of $659,000, which is an increase of 55%.
Annual revenue for the period ending July 31, 2011 was reported at $1,796,000, which was an increase of 25% over the previous year.
"This quarter has solidified all of the hard work that we have put into this company in the last year. We have transformed this company to a company focused on IT and Smartphone Apps. It was a great deal of work, but when you are able to produce turnarounds like we have this quarter, it makes the long hours worthwhile. Our team will continue to work hard to continue to grow and expand this company for increase shareholder value," said Dustin Secor, ANDI CEO.
"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.
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
Investor Relations
Andiamo Corporation
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Datum: 14.09.2011 - 19:53 Uhr
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News-ID 66122
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