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.

Contact:
Christina Wasik
Roomlinx, Inc.
303.544.1111 x114
[email protected]

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
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 busine...
SYS-CON Events announced today that Nihon Micron will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Nihon Micron Co., Ltd. strives for technological innovation to establish high-density, high-precision processing technology for providing printed circuit board and metal mount RFID tags used for communication devices. For more inf...
SYS-CON Events announced today that SourceForge has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SourceForge is the largest, most trusted destination for Open Source Software development, collaboration, discovery and download on the web serving over 32 million viewers, 150 million downloads and over 460,000 active development projects each and every month.
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities – ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups. As a result, many firms employ new business models that place enormous impor...
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we'v...
SYS-CON Events announced today that TidalScale, a leading provider of systems and services, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale has been involved in shaping the computing landscape. They've designed, developed and deployed some of the most important and successful systems and services in the history of the computing industry - internet, Ethernet, operating s...
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.
In his session at 21st Cloud Expo, Michael Burley, a Senior Business Development Executive in IT Services at NetApp, will describe how NetApp designed a three-year program of work to migrate 25PB of a major telco's enterprise data to a new STaaS platform, and then secured a long-term contract to manage and operate the platform. This significant program blended the best of NetApp’s solutions and services capabilities to enable this telco’s successful adoption of private cloud storage and launchi...
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
As hybrid cloud becomes the de-facto standard mode of operation for most enterprises, new challenges arise on how to efficiently and economically share data across environments. In his session at 21st Cloud Expo, Dr. Allon Cohen, VP of Product at Elastifile, will explore new techniques and best practices that help enterprise IT benefit from the advantages of hybrid cloud environments by enabling data availability for both legacy enterprise and cloud-native mission critical applications. By rev...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.