Sarasota, FL 4/9/2008 9:29:21 PM
QuoteMedia's (OTCBB: QMCI) Revenues Jump; Expects Banner 2008
Pennycents Magazine Reports on QuoteMedia
Pennycents Magazine, the market’s most valuable research tool covering micro-cap, penny stocks and otcbb equities, issued the following daily column by Lester Young.
Ah, 2007, t'was a very good year. It was, at least, for QuoteMedia, Inc. (OTCBB: QMCI), an industry-leading software developer and syndicated provider of financial market information and data. In its fiscal-year-ending (December 31st) financial results, the company announced a year-over-year revenue increase from $3,742,534 in 2006 to $5,569,107 for 2007, or a robust 49%. Further, QuoteMedia's deferred revenue balance (advance payments from customers that will be fully counted as revenue in future quarters as services are actually rendered) grew 19% from December 31, 2006 to the same date in 2007, from $363,785 to $433,630. And, in news that can only be expected to bring an even bigger smile to stockholders' faces, the projected figures for 2008 look to be even healthier.
The company reports sales of roughly $6.8 million (annualized) already under contract, which does not take into account other contracts still in negotiation and further business opportunities sure to arise as the year progresses.
QuoteMedia substantially increased its market- and market news coverage in 2007, adding market and trading data from more than 40 international exchanges. The company also completed its Quotestream Professional, a streaming portfolio management product, which is designed specifically for financial service professionals (the Quotestream II version of the product is available for non-professionals). According to management, plans for 2008 are to continue the company's expansion and aggressive marketing of its financial data solutions, with particular focus on the investment professional market (i.e. brokers, financial advisers and fund managers), with the expectation of further substantial revenue increases.
QuoteMedia's client portfolio includes such companies as the NASDAQ, the OTCBB, Forbes.com, Dow Jones & Company, Business Wire, Regal Securities, yours truly and numerous others.
The writer does not own shares in the above stocks.
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