VRX Reports 2011 Third Quarter Results
30 Novembro 2011 - 8:00PM
Marketwired
VRX Worldwide Inc. (TSX VENTURE:VRW), a leading provider of content
production, distribution, licensing and digital asset management
services, reports it's financial results for the nine months ended
September 30, 2011.
Summary of Quarterly Results (Post-Provision)(Unaudited)
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2011 Q3 2011 Q2 2011 Q1 2010 Q4 2010 Q3
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Total revenue $ 803,124 $ 850,559 $ 907,477 $ 917,190 $ 1,008,181
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Gross profit $ 353,381 $ 542,698 $ 622,413 $ 556,395 $ 613,210
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EBITDA $ (113,280) $ (214,904) $ 108,828 $ 99,150 $ 173,448
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Net income $ (134,108) $ (262,732) $ 19,623 $ 15,140 $ 80,978
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Earnings per
share $ (0.004) $ (0.008) $ 0.001 $ 0.000 $ 0.002
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Total assets $ 1,364,336 $ 1,256,446 $ 1,535,032 $ 1,251,438 $ 1,395,468
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Total revenue for the third quarter of 2011 decreased $47,435
(6%) from the second quarter of 2011 and $205,057 (20%) from the
third quarter of 2010. The decrease in revenue between quarters was
primarily a result of a decline in overall production services and
in the mix of production services delivered.
"The prolonged downturn of the global economy continues to weigh
heavily on our content services business as hospitality companies
in the US and Europe remain hesitant to launch new large scale
photography initiatives. During downturns, our customer base - now
over 10,000 hotels - maintains a base level of production services
throughout each year to keep their content current," commented
David MacLaren, President and CEO of VRX Worldwide Inc. "This base
production level is the core of our business and maintains us
through the ups and downs of the hospitality and travel
industries."
"On the digital asset management side of our business, the
downturn isn't affecting the broad demand that we're experiencing
for MediaValet. Companies from a wide spectrum of industries in the
US, Europe and APAC are actively looking for ways to reduce their
media management costs and leverage their digital assets. In
addition to this demand, we continue to receive strong coverage in
the press and tonight we're attending Microsoft's 2011 IMPACT
Awards in Toronto as a finalist for the Windows Azure Platform ISV
Partner of the Year award."
The full financial statements and related MD&A are now
available on the Company's website (www.vrxworldwide.com) and on
SEDAR (www.sedar.com).
ABOUT VRX
Through a decade of growth, innovation and an unwavering
commitment to quality, consistency and customer service, VRX is one
of the world's leading providers of content production,
distribution, licensing and digital asset management services. To
find out more about VRX, its products and services, visit
www.vrxstudios.com, www.mediavalet.co and www.vrxworldwide.com.
VRX Worldwide Inc.
David MacLaren, CEO
"Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Contacts: VRX Worldwide Inc. Investor & Public Relations
1.888.605.0059info@vrxworldwide.comwww.vrxworldwide.com
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