Destiny Media Q3 Up 20%
January 14, 2010 at 6:26 AM (PT)
DESTINY MEDIA TECHNOLOGIES has reported results for the quarter ended NOVEMBER 30, 2009. Total revenue grew 20% over the prior quarter and 89% over the same quarter in the prior year to $1,047,528. This was the company's third consecutive profitable quarter with net income of $322,680 and EBITDA of $335,659.
Noting the long-term trend, CFO FRED VANDENBERG commented, "Revenue has grown from one quarter to the next in all but one quarter over the last three years due to growing usage of our PLAY MPE digital delivery service. The average consecutive quarter to quarter PLAY MPE revenue growth was 29% over this period. Overall revenue growth averaged 90% per annum with PLAY MPE revenues growing by in excess of 125% annually."