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Fri, August 14, 2009 Roomlinx, Inc.: Roomlinx Reports Results for the Second Quarter 2009
DENVER, CO--(Marketwire - August 14, 2009) - Roomlinx, Inc. (
Roomlinx reported revenues of $427,019 for the quarter ended June 30, 2009, a slight increase over its $424,392 of revenues for the quarter ended June 30, 2008. Roomlinx' gross profit for the same period was $98,671, a 49% decrease over the $193,835 gross profit for the same period in 2008. These results are primarily attributable to Roomlinx' shift in focus from High Speed Internet Access ("HSIA") to its new Interactive TV product. Higher gross profit numbers are expected, on the residual revenues, as more interactive TV systems are installed.
Roomlinx reported a net loss of $2,815,695, compared to a net loss of $1,631,838 for the three months ended June 30, 2008. Net income results for the quarter ended June 30, 2009 are attributed to a non-cash derivative expense of $2,352,090 as well as a non-cash stock compensation expense of $118,774. Net loss, excluding non-cash items, was $334,831 for the quarter ended June 30, 2009 compared to a net loss of $231,092 for the quarter ended June 30, 2008.
"Even during this tough economic time we are gaining momentum with each new Interactive TV installation. We will continue to stay focused and maintain the position that there is a strong opportunity within this market segment for our innovative platform," said Mike Wasik, CEO.
About Roomlinx
Roomlinx is the hospitality expert providing Interactive TV solutions designed to increase revenues and brand loyalty for hotels, resorts, and other properties, utilizing premium content and applications demanded by today's traveler. For more information about Roomlinx, visit [ www.roomlinx.com ].
Safe Harbor Cautionary Statement
Certain statements in this news release, including statements that we "believe," "expect," "intend," "plan" or words of similar import, are forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans, new products and services and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: the company's successful implementation of the new products and services, demand for the new products and services, the company's ability to successfully compete against competitors offering similar products and services, general economic and business conditions; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of the Company's Securities and Exchange Commission filings available at [ http://www.sec.gov ], which you should carefully review. Roomlinx does not assume any obligation to update or revise any forward-looking statements, whether as the result of new developments or otherwise.
