Roomlinx Inc. (RMLX) Posts YoY Improvements for Q4, FY2010

By @ibtimes on

Roomlinx Inc., a developer of hotel interactive TV applications, Friday announced improved fourth-quarter and full-year 2010 financial performance, reflecting ongoing increased revenues and gross profits.

The company reported fourth-quarter revenues at $1.83 million, up 136 percent for the fourth quarter of 2009. Revenues for full-year ended December 31, 2010, were $4.49 million, an 84 percent increase over full year 2009 revenues. The company attributes 74 percent of the annual increase to increased installations, hardware sales and recurring revenue streams of its media and entertainment products; 26 percent is attributable to the revenue streams acquired from Canadian Communications, LLC.

Roomlinx’ gross profits for the fourth quarter were $403,679, up 12 percent over the fourth quarter of 2009. Full-year gross profits were $1.06 million, up 22 percent over full-year 2009. Roomlinx attributes 80 percent of its annual gross profit increase to its acquisition of Canadian Communications, with 20 percent attributed to increased media and entertainment revenues.

Gross profit margins for 2010 were 24 percent compared to 36 percent reported in 2010. The company said the decrease is primarily due to a large hardware sale in 2010 that had a margin of approximately 5 percent.

Net loss for fourth quarter was $183,870 compared to a net loss of $171,675 in the comparable quarter of 2009. Net loss for full-year 2010 was $1.26 million compared to $2.81 million reported for full-year 2009.

“Our improved financial performance was a result of our ability to close larger Interactive TV sales, penetrate foreign markets, increase our Interactive TV recurring revenues, and execute our first acquisition,” Mike Wasik, Roomlinx CEO stated in the press release. “We believe we offer the hotel industry a truly unique and robust product with our Interactive TV platform. We will continue to invest in product enhancements, sales and marketing of the Interactive TV platform as we steadily progress toward our goal of achieving profitability and increasing shareholder value in 2011.”

For more information visit www.roomlinx.com

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