StreamTrack Reports Record Net Income for Q1 2014admin
StreamTrack Reports Record Net Income for Q1 2014
– Quarter-over-quarter Radioloyalty(tm) player ad revenue growth of 175%
– Quarter-over-quarter gross profit improved 749%
– Quarter-over-quarter net profit increased 141%
– Quarter-over-quarter costs of sales decreased 22%
– Quarter-over-quarter operating expenses decreased 32%
Santa Barbara, CA US, January 21, 2014 /FSC/ – StreamTrack Inc. (STTK – OTCQB), (“StreamTrack” or the “Company”), a digital media and technology services company operating within the internet radio and streaming media sectors, today filed its quarterly financial statements for the three months ending November 30, 2013 reporting revenues of $523,827 and net income of $352,246.
StreamTrack’s CEO Michael Hill stated: “We are proud to report positive business and financial trends. Our efforts to maximize our infrastructure are starting to pay off. We have focused on monetizing the Radioloyalty(tm) player for much of the past year. Excluding the Rightmail revenues of $189,245, we generated during Q1 2013, we are able to show extreme ad revenue growth generated by our Radioloyalty(tm) player of 175% on a quarter-over-quarter basis. More importantly, our growth occurred within our core business using our core technology platform. We see these growth trends continuing throughout 2014.”
About StreamTrack, Inc. StreamTrack, Inc. (the “Company”) is a digital media and technology services company. The Company provides audio and video streaming and advertising services through its RadioLoyalty(tm) Platform (the “Platform”) to over 5,000 internet and terrestrial radio stations and other broadcast content providers. The Platform consists of a web-based and mobile player that manages streaming audio and video content, social media engagement, display and video ad serving within the web player and is also capable of replacing audio ads with video ads within the web player in a live or on-demand environment. The Company offers the Platform directly to its broadcasters and integrates or white labels its technologies with web-based internet radio guides and other web-based content providers. The Company is also continuing development of WatchThis(tm), a patent-pending technology to provide web, mobile and IP television streaming services that are e-commerce enabled within streamed content.
For more information visit: http://www.streamtrack.com or http://www.radioloyalty.com
Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about StreamTrack’s industry, management’s beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
Chairman and Chief Executive Officer
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Source: StreamTrack Inc. (OTCQB: STTK) http://www.streamtrack.com
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Posted: January 21st, 2014 under FSCWIRE.