Destiny Media Technologies reported preliminary results for the fourth fiscal quarter ending August 31, 2009. The company said that revenues would be in a range of $860,000 to $875,000 and earnings before interest, taxes, depreciation and amortization (EBITDA) would be in a range of $275,000 and $290,000.
The revenue figure represents growth of approximately 76% over the same quarter last year, and 30% sequentially.
Steve Vestergaard, the CEO of Destiny Media Technologies, said, “Our revenues have improved in eleven of the last twelve quarters, with a 43% quarter over quarter jump in Q3 and at least 29% in Q4. The company is confident that revenue and EBITDA will continue to grow into Q1-2010 by at least 15% and 30% respectively.”
Destiny Media Technologies develops software and services that allows digital content to be distributed over the Internet. It has two product lines: MPE® and Clipstream®. MPE® is used to permanently deliver content to the end user to be stored on a personal computer or other storage device. Clipstream® is used to stream the content for one time use.