Vidaroo Corporation Announces Quarterly Results With Record Breaking Revenue and Appointment of Micheal Morgan to President
12 Novembre 2010 - 4:22PM
Vidaroo (OTCBB:VIDA) today announced its operating results for the
quarter ended September 30, 2010. Year over year revenue increased
by 36% to $524 thousand, while operating margin improved by over
75% to $419 thousand. The Company continued to show a net loss
but reduced that loss by $788 thousand to $163 thousand. "It is a
very exciting time for us," states Mark Argenti, CEO, "as the
combination of our production and software licensing business units
has combined to generate record quarterly revenues for the
Company. Not only have we generated record revenues, we have
done so in a way that continues to perform with very high margins,
a powerful testament to the business model management has
designed." Separately, the Company also announced the appointment
of Micheal Morgan to the Position of President. "Micheal has
written the Company's proprietary video technology software,"
further states Mr. Argenti, "which is the cornerstone of our
Software as a Service initiative. Micheal's leadership to date
has positioned the Company for highly scalable growth in the
future. We expect the combination of his past efforts and
vision for the future to further position the Company for great
success."
CONTACT: Vidaroo Corporation
Tom Moreland
tom.moreland@vidaroo.com
Vidaroo (CE) (USOTC:VIDA)
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