Northern, WI 5/14/12 (StreetBeat) -- QuoteMedia, Inc. (Pinksheets: QMCI), a leading provider of market data and financial applications, announced financial results for the three months ended March 31, 2012. These results reflect a 26% increase in first quarter revenues, to $2,564,444 from $2,029,783 in the comparative period in 2011.
QuoteMedia reported a net loss of $104,987 in Q1 2012, compared to a net loss of $398,900 in Q1 2011 – an improvement of $293,913. The company also reported positive EBITDA of $232,110 in Q1 2012 which represents a $327,707 improvement as compared to the Q1 2011 EBITDA of $(97,597).
“We are very pleased with these results,” says Keith Guelpa, President of QuoteMedia, Inc. “The momentum we developed in the second half of 2011 has carried forward into 2012, with pronounced revenue growth and increases in market share.
“We anticipate that 2012 will be a strong year for QuoteMedia, as we expect to see continued revenue growth and increased market penetration, on both the institutional and retail sides, across all product lines. We are very proud of what we have accomplished to date, and look forward to continued success in future quarters.”
QuoteMedia is a leading software developer and syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides data and services for companies such as the NASDAQ, the OTCBB, TMX Group, Dow Jones & Company, SunGard, U.S. Bank, Penson Worldwide, Broadridge Financial Systems, Ridge Clearing, Regal Securities, JitneyTrade, Southwest Securities, HD Vest, Zecco Trading, Zacks Investment Research, General Electric, Dow Chemical, Bombardier, Business Wire, Marketwire, FolioFN, Captivate Network, ChoiceTrade, Qtrade Financial, CNW Group, TradeFreedom, Gain Securities, Gmarkets, Questrade, Schaeffer's Investment Research, Answers.com, WebFinance, and others. For more information, please visit: www.quotemedia.com.
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