ORLANDO, Fla., Feb. 15, 2011 (GLOBE NEWSWIRE) -- Vidaroo (OTCBB:VIDA) today announced its operating results for the quarter ended December 31, 2010. Year over year revenue increased by 56% to $387 thousand, while operating margin improved by 35% to $275 thousand. The Company continued to show a net loss but reduced that loss by $433 thousand to $357 thousand.
"We are pleased with our continued progress, as the growth in revenue and operating margin produced positive cash flow from operations for the three months ended December 31, 2010," indicated Tom Moreland, Chief Financial Officer.
"The ongoing success of our Production business, along with the continued gains shown in Software Licensing," states Mark Argenti, CEO, "have allowed the Company to make progress toward breaking even and ultimately achieving profitability." Mr. Argenti elaborated, "...the anticipated launch of the Company's redesigned marketing website, along with initiation of our fully automated client interface during this quarter, is expected to be instrumental in furthering our Software as a Service (SaaS) initiatives, accelerating current sales efforts while generating opportunity for new revenue."
About Vidaroo Corporation
Vidaroo Corporation is a video technology company that provides a best-in-breed Online Video Platform and state of the art Video Production. Vidaroo's Online Video Platform and Video Production has earned the trust of a growing list of current and former clients including advertising agencies, iconic artists, media companies, organizations, businesses, and national brands such as Microsoft, The Coca-Cola Company, Tribune News Company, Toyota, Emmis Communications, Clear Channel, Black Eyed Peas, Mary J. Blige, Britney Spears, Justin Timberlake and more. Vidaroo's Online Video Publishing Technology enables firms to easily create, deliver and monetize video and advertising delivery.
Some of the above statements may be 'forward-looking' statements as defined by section 27A(c)(1)(A)(i) of the Securities Act of 1933.
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