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™ and VRX Studios™, 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
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
TechTarget storage websites are the best online information resource for news, tips and expert advice for the storage, backup and disaster recovery markets. By creating abundant, high-quality editorial content across more than 140 highly targeted technology-specific websites, TechTarget attracts and nurtures communities of technology buyers researching their companies' information technology needs. By understanding these buyers' content consumption behaviors, TechTarget creates the purchase inte...
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
VeriStor Systems has announced that CRN has named VeriStor to its 2017 Managed Service Provider (MSP) 500 list in the Elite 150 category. This annual list recognizes North American solution providers with cutting-edge approaches to delivering managed services. Their offerings help companies navigate the complex and ever-changing landscape of IT, improve operational efficiencies, and maximize their return on IT investments. In today’s fast-paced business environments, MSPs play an important role...