Destiny Media Releases Preliminary Q4 Financials
October 14, 2009 at 4:26 AM (PT)
DESTINY MEDIA TECHNOLOGIES has announced preliminary financial results for its Q4, ended AUGUST 31st, 2009. Audited fiscal 2009 financials are expected to be available in late NOVEMBER.
CEO STEVE VESTERGAARD comments on the unofficial results, "Our revenues have improved in 11 of the last 12 quarters, with a 43% quarter over quarter jump in Q3 and at least 29% in Q4. The company is confident that revenue and EBITDA will continue to grow into Q1-2010 by at least 15% and 30%, respectively. We expect this trend of earnings growth to continue into the foreseeable future. Play MPE system access fees have increased in 15 of the last 16 quarters and we expect to continue to add to our stable base of recurring contracted billings as existing customers increase their usage and we continue to expand into new territories."
Based on preliminary Q4 financial information, DESTINY believes it will achieve Q4 fiscal 2009 revenue between $860,000 and $875,000, representing an increase of 75% to 77% over the same quarter in the previous year (or 29% to 31% over the previous quarter). The company believes it will achieve EBITDA of between $275,000 and $290,000 for the quarter.