PHOENIX, Nov. 13, 2015 (GLOBE NEWSWIRE) -- QuoteMedia, Inc. (OTCQB:QMCI), a leading provider of market data, financial web content solutions and cloud-based applications, announced financial results for the three months ended September 30, 2015. These results reflect third quarter revenue of $2,152,977, down from $2,292,698 in the comparative period in 2014, a decrease of $139,721.
“These results are a bit misleading, as the Canadian dollar depreciated more than 20% compared to the 3rd quarter in 2014, says CEO Keith Guelpa. “A significant portion of our revenues are in Canadian dollars, which are translated into U.S. dollars for reporting purposes.
“On balance, however, our expenses incurred in Canadian dollars slightly exceed our Canadian dollar revenue billings, so while the current appreciation of the U.S. dollar may lower 2015 revenue figures compared to 2014, it actually has a small positive impact on our bottom line.
“We are very excited about the direction we are taking. We have launched our new QModTM product line and are proceeding with several large deployments. We are also soon to release our new streaming data feed systems, and we are completing major integrations with several partner platforms, which will allow access to a larger market for our data products. We are looking forward to a successful final quarter of 2015, and a strong year in 2016."
About QuoteMedia
QuoteMedia is a leading software developer and cloud-based 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 Stock Exchange, TMX Group (TSX Stock Exchange), Dow Jones & Company, SunGard, U.S. Bank, Broadridge Financial Systems, Ridge Clearing, JP Morgan, JitneyTrade, Southwest Securities, IBM, HD Vest, Intrinsic Research Systems, ING Investment Management, Stockhouse, Zacks Investment Research, General Electric, Dow Chemical, Boeing, Bombardier, Business Wire, PR Newswire, Marketwired, FolioFN, ChoiceTrade, Qtrade Financial, Jordan Capital, CNW Group, Schaeffer's Investment Research, Brean Capital, TradeKing, Suncor, Nexa Technologies, American Financial Group, Virtual Brokers, Captivate Network, Leede Financial, Motif Investing, First Financial, Stock-Trak and others. For more information, please visit: www.quotemedia.com.
Statements about QuoteMedia's future expectations, including future revenue, earnings, and transactions, as well as all other statements in the press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. QuoteMedia intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are identified from time to time in the Company's SEC reports and filings, and are subject to change at any time. QuoteMedia's actual results and other corporate developments could differ materially from that which has been anticipated in such statements.