Welcome!

News Feed Item

Roomlinx Reports 2013 Second Quarter Results

Total Revenue Increased 15% and Monthly Hospitality Recurring Revenue Increased 79% Year Over Year

DENVER, CO--(Marketwired - August 14, 2013) -  Roomlinx, Inc. (OTCQB: RMLX), the innovative developer of media networks and interactive TV (iTV) applications for the hospitality industry, today announced financial results for the three months ended June 30, 2013.

In the second quarter of 2013, total revenue increased 15% to $2.4 million compared to second quarter of 2012. Hospitality revenue in the second quarter of 2013 increased 16% to $2.2 million, compared to $1.9 million in same period in 2012. This increase is primarily related to the increase in the Company's monthly recurring revenue associated with its revenue generating units ("RGUs"). 

An RGU is defined as a product or service for which the Company invoices the hotel monthly, including interactive television, video on demand, free to guest programming, and high speed internet access. As of June 30, 2013, the Company was servicing approximately 82,000 RGUs within the hospitality sector, a 71% increase over the number of RGUs being serviced as of June 30, 2012.

Hospitality Revenue Generating Units (RGU) as of June 30, 2013:

   Revenue Generating          RGUs              Approximate Monthly       
         Units              in Service            Recurring Revenue        
---------------------------------------------------------------------------
Free-To-Guest                 14,000                   $140,000            
High Speed Internet           36,000                   $102,000            
Video-On-Demand               20,000                   $70,000             
Interactive TV                12,000                   $130,000            
Total                         82,000                   $442,000            

The company also realizes approximately $70,000 in monthly recurring revenue within its residential segment.

The hospitality segment consists of service revenue which is monthly recurring revenue attributable to RGUs and product, plus installation revenue which is one-time revenue. Hospitality service revenue increased to $1.3 million in the second quarter of 2013 compared to $0.7 million in the same period in 2012, a 79% increase, while hospitality product and installation revenue decreased $0.3 million to $0.9 million. Residential revenue was down to $218,000 in the second quarter of 2013 compared to $231,000 in the same period in 2012, a 6% decrease.

Basic and diluted weighted average shares outstanding for the three months ended June 30, 2013 were 6,405,413 compared to 5,893,814 in the year-earlier period.

For the three months ended June 30, 2013, Roomlinx reported a net loss of $719,090, compared to a net loss of $1,811,630 for the three months ended June 30, 2012, a reduction of net loss of $1,092,540. Net loss not inclusive of non-cash items was $411,090. The decrease in net loss is primarily attributable to the 79% increase in hospitality recurring revenues and the $557,152 reduction in operating expenses.
Recent key accomplishments at Roomlinx include:

1. Reduced net loss by over $1.0 million year over year and $0.7 million quarter over quarter.

2. Increased hospitality recurring revenue by 79%.

3. Second quarter 2013 RGUs in service increased 71% compared to the second quarter of 2012.

Roomlinx CEO, Michael Wasik, summed up the second quarter results by stating, "Focusing our efforts on increasing our recurring revenues and decreasing our operating costs has delivered positive results. Roomlinx remains focused on these initiatives in order to attain positive cash flow and position our company for long term success. We expect this favorable trend to continue."

About Roomlinx
Headquartered in Broomfield, Colorado, Roomlinx, Inc. develops interactive TV applications for the hospitality industry, serving hoteliers in the United States, Canada and selected global markets. The company delivers world-class in-room entertainment technology, allowing hotel guests to enjoy the best of HD TV, the Internet, PC functionality and Video on Demand. For more information, visit www.roomlinx.com.

Safe Harbor Cautionary Statement
This news release may contain forward-looking statements within the meaning of the federal securities laws. Statements regarding future events, developments, the Company's future performance, as well as management's expectations, beliefs, intentions, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. These forward-looking statements are subject to a number of risks and uncertainties, some of which are outlined below. As a result, actual results may vary materially from those anticipated by the forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: the Company's successful implementation of new products and services (either generally or with specific key customers), the Company's ability to satisfy the contractual terms of key customer contracts, 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; the ability to obtain adequate financing in the future; the Company's ability to establish and maintain strategic relationships, including the risk that key customer contracts may be terminated before their full term; the possibility of product-related liabilities; the Company's ability to attract and retain qualified personnel; the Company's ability to maintain its intellectual property rights and litigation involving intellectual property rights; risks related to third-party suppliers; the Company's ability to obtain, use or successfully integrate third-party licensed technology; breach of the Company's security by third parties; matters relating to the Company's Master Services Agreement with Hyatt; matters relating to the claims by Technology Integration Group; and the disclosure and risk factors detailed from time to time in the Company's reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2012 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2013 available through the web site maintained by the Securities and Exchange Commission at www.sec.gov. The Company undertakes no obligation to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
"We formed Formation several years ago to really address the need for bring complete modernization and software-defined storage to the more classic private cloud marketplace," stated Mark Lewis, Chairman and CEO of Formation Data Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Most organizations prioritize data security only after their data has already been compromised. Proactive prevention is important, but how can you accomplish that on a small budget? Learn how the cloud, combined with a defense and in-depth approach, creates efficiencies by transferring and assigning risk. Security requires a multi-defense approach, and an in-house team may only be able to cherry pick from the essential components. In his session at 19th Cloud Expo, Vlad Friedman, CEO/Founder o...
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.