ORLANDO, Fla., Nov. 12, 2010 (GLOBE NEWSWIRE) -- Vidaroo (OTCBB:VIDA) today announced its operating results for the quarter ended September 30, 2010. Year over year revenue increased by 36% to $524 thousand, while operating margin improved by over 75% to $419 thousand. The Company continued to show a net loss but reduced that loss by $788 thousand to $163 thousand.
"It is a very exciting time for us," states Mark Argenti, CEO, "as the combination of our production and software licensing business units has combined to generate record quarterly revenues for the Company. Not only have we generated record revenues, we have done so in a way that continues to perform with very high margins, a powerful testament to the business model management has designed."
Separately, the Company also announced the appointment of Micheal Morgan to the Position of President.
"Micheal has written the Company's proprietary video technology software," further states Mr. Argenti, "which is the cornerstone of our Software as a Service initiative. Micheal's leadership to date has positioned the Company for highly scalable growth in the future. We expect the combination of his past efforts and vision for the future to further position the Company for great success."
Vidaroo Corporation Announces Quarterly Results With Record Breaking Revenue and Appointment of Micheal Morgan to President
| Source: Vidaroo Corporation