Destiny Revs Up 62% Over Last Year
November 30, 2009 at 5:54 AM (PT)
DESTINY MEDIA TECHNOLOGIES has announced results for the quarter and year ended AUGUST 31st, 2009. Revenues of $2,560,447 were 62% higher than the prior year and quarterly revenues of $872,569 were 31% higher than the prior quarter. Net income was $610,831 for the company's first profitable year.
DESTINY is also announcing that its board of directors has authorized a program to repurchase up to 1 million shares of the company's common stock at a maximum share purchase price of $0.80 per share.
Based on preliminary Q1 financial information, DESTINY "believes it will achieve first quarter fiscal 2010 revenue of at least $1,000,000, representing an increase of at least 14% over the previous quarter and 102% over Q1 fiscal 2008."