Destiny Media Revenues Up 21% From Q4
January 19, 2012 at 12:35 PM (PT)
DESTINY MEDIA TECHNOLOGIES had solid financial news to announce for the quarter ending NOVEMBER 30, 2011. Revenues of $1,124,617 reflect an increase of 21% over the previous quarter and 6% over the same quarter in the prior year.
Operating expenses grew 16% from the prior year to $1,109,240, reflecting a 15% increase in R&D spending and a 31% increase in G&A. This increase includes a $164,000 increase in litigation expenses to a total of approximately $270,000 for the quarter.
Litigation expenses are expected to decline significantly after trial in MARCH 2011. Net income for the quarter was $12,555.