Destiny Media Tech Q2 Revenues Dip
April 15, 2011 at 11:57 AM (PT)
DESTINY MEDIA TECHNOLOGIES announced Q2 results for the quarter ending FEBRUARY 28th that saw a 3.3% decline in revenues of $841,072, due primarily to a 2.5% decline in PLAY MPE® revenues. The net loss for the quarter was $43,027.
"We anticipate returning to profitability and continued growth in Q3," CEO STEVE VESTERGAARD said. "We are currently looking to expand our penetration into major markets in EUROPE and ASIA and expect to see continued growth in revenue in those areas over the coming quarters.
"R&D efforts have focused on improving speed, reliability and redundancy across the four server facilities in EUROPE and NORTH AMERICA, integrating with partner networks and building out new versions of the software and ancillary services, such our patent pending online watermarking solution," he continued. "We've continued to de-emphasize legacy CLIPSTREAM® licensing in favor of building out two new higher margin service based CLIPSTREAM® offerings, which will be launching this year."