News / Business
QualityStock's Smallcap Stock Clients - QuoteMedia, Inc. (QMCI.OB)
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Quote Media is one of our highlighted companies this month. The company is a leading data provider of financial stock market data , market news feeds, and related financial software solutions to financial service companies, online brokerages, clearing firms, banks and public corporations.
In our client’s news today,
Revenue increased from $838,266 to $1,160,700 in 2007; a 38% increase. The company’s cash balance increased $241,219 from the previous balance of $1,127,470.
QuoteMedia’s deferred revenue balance increased 63% from $209,708 to $341,357.
Deferred revenue represents payments received in advance from customers that will be recognized as revenue in future quarters when the services are performed.
The Company has significantly expanded their data offerings to include international market data, and much more comprehensive research information. Their new international data coverage allows the QuoteMedia to expand into the global market.
Because of the large growth, the company has been required to increase its staff and office space. In order to compensate the demand, QuoteMedia expanded all three existing offices and is opening new offices in
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