Welcome!

News Feed Item

VRX Worldwide Reports 2013 Annual Results

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/30/14 -- VRX Worldwide Inc. (TSX VENTURE:VRW) -


--  VRX Studios' broadening service offerings and strengthening global
    markets drive 15% increase in Service Revenue 
--  MediaValet's Revenue Increases 172% with new customers in agriculture,
    healthcare, education, manufacturing, transportation, sports and
    recreation, tourism, and consumer products 
--  Investment and momentum increases with $525,000 Equity Raise in the 4th
    Quarter 

VRX Worldwide Inc., a global provider of content production and cloud-based digital asset management services, is pleased to report it's annual and fourth quarter results for 2013.


-------------------------------------------------------------------- 
                                    2013           2012         2011 
-------------------------------------------------------------------- 
Total revenue               $  3,523,865  $   3,213,772 $  3,243,586 
-------------------------------------------------------------------- 
Gross profit                $  1,782,394  $   1,783,237 $  1,845,030 
-------------------------------------------------------------------- 
EBITDA                      $     67,582  $     309,553 $   (366,730)
-------------------------------------------------------------------- 
Net income (loss)           $   (425,473) $      13,057 $   (619,185)
-------------------------------------------------------------------- 
Earnings (loss) per share   $      (0.01) $        0.00 $      (0.02)
-------------------------------------------------------------------- 
Total assets                $  1,855,175  $   1,618,141 $  1,107,431 
-------------------------------------------------------------------- 
                                                                            
Summary of Quarterly Results (Unaudited)                                    
                                                                            
----------------------------------------------------------------------------
                 2013 Q4      2013 Q3      2013 Q2      2013 Q1      2012 Q4
----------------------------------------------------------------------------
Total                                                                       
 revenue     $   931,275  $   944,220  $   915,841  $   732,529  $   875,553
----------------------------------------------------------------------------
Gross profit $   459,131  $   473,681  $   457,887  $   391,695  $   497,568
----------------------------------------------------------------------------
EBITDA       $   (74,078) $    64,964  $    59,495  $    17,201  $   106,593
----------------------------------------------------------------------------
Net income   $  (234,259) $   (54,116) $   (58,978) $   (78,120) $    53,335
----------------------------------------------------------------------------
Earnings per                                                                
 share       $     (0.01) $      0.00  $      0.00  $      0.00  $      0.00
----------------------------------------------------------------------------
Total assets $ 1,855,175  $ 1,753,169  $ 1,725,068  $ 1,594,014  $ 1,618,141
----------------------------------------------------------------------------

Total revenue increased 9.6% year over year and 6.4% quarter over quarter due to VRX Studios' strengthening client base, it's broadening service offering, and MediaValet's growing licensing stream. Gross profit, EBTIDA and net income decreased over both time frames due to increased investment in operations, sales and marketing, research and development, and corporate development activities; and higher financing costs.

"Throughout 2013 we invested in the foundation of our business, successfully growing several new service offerings, nurturing a new brand, and attracting new investors who share our vision for the future," commented David MacLaren, President and CEO of VRX Worldwide. "With the ongoing improvement in the global economy, demand from VRX Studios' 13,000 hotel customers continued to strengthen, our new service initiatives generated higher returns, and version 2.0 of MediaValet helped us land many new customers in a variety of industries across North America, Europe, the Middle East and Asia."

The full financial statements and related MD&A are now available on the Company's website (www.vrxworldwide.com) and on SEDAR (www.sedar.com).

ABOUT VRX Worldwide Inc.

Through its wholly owned brands, MediaValet(TM) and VRX Studios(TM), VRX Worldwide delivers cloud-based digital asset management and global content production services to many of the world's leading manufacturing, healthcare, resource, high-tech, agricultural, consulting, consumer, travel and hospitality brands.

VRX Worldwide Inc.,

David MacLaren, CEO

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that VRX Worldwide Inc. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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
We’ve been doing it for years, decades for some. How many websites have you created accounts on? Your bank, your credit card companies, social media sites, hotels and travel sites, online shopping sites, and that’s just the start. We do it often without even thinking about it, quickly entering our personal information, our data, in a plethora of systems. Sometimes we’re not even aware of the information we are providing. It could be very personal information (think of the security questions you ...
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
SYS-CON Events announced today that Niagara Networks 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. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, 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. Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said “No to LUNs.” With Tintri they mana...
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...
If you had a chance to enter on the ground level of the largest e-commerce market in the world – would you? China is the world’s most populated country with the second largest economy and the world’s fastest growing market. It is estimated that by 2018 the Chinese market will be reaching over $30 billion in gaming revenue alone. Admittedly for a foreign company, doing business in China can be challenging. Often changing laws, administrative regulations and the often inscrutable Chinese Interne...