Click here to close now.




















Welcome!

News Feed Item

VRX Worldwide Reports 2014 Second Quarter Results

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/28/14 --


--  Total revenue in the second quarter increased 16% over the same period
    in 2013 
--  VRX Studios' Service Revenue grew 19% and MediaValet's Licencing Revenue
    grew 55% 
--  On a trailing 12 months basis, MediaValet's Licencing Revenue increased
    122% 
--  MediaValet's customer base continues to diversify with new customers in
    the US public and non-profit sectors, advertising, and online education 
--  VRX Worldwide continues to invest in the cloud-based enterprise software
    space

VRX Worldwide Inc. (TSX VENTURE:VRW), a leading provider of cloud-based digital asset management software and global photography services, is pleased to report its second quarter results for 2014.


Summary of Quarterly Results (Unaudited)                                    
                                                                            
----------------------------------------------------------------------------
                    2014 Q2     2014 Q1     2013 Q4     2013 Q3     2013 Q2 
----------------------------------------------------------------------------
Total revenue    $1,060,355  $1,072,348  $  931,275  $  944,220  $  915,841 
----------------------------------------------------------------------------
Gross profit     $  538,742  $  594,628  $  459,131  $  473,681  $  457,887 
----------------------------------------------------------------------------
EBITDA           $ (350,498) $  (84,215) $  (74,078) $   64,964  $   59,495 
----------------------------------------------------------------------------
Net income       $ (419,460) $ (249,116) $ (234,259) $  (54,116) $  (58,978)
----------------------------------------------------------------------------
Earnings per                                                                
 share           $    (0.01) $    (0.01) $    (0.01) $     0.00  $     0.00 
----------------------------------------------------------------------------
Total assets     $1,840,687  $1,700,983  $1,855,175  $1,753,169  $1,725,068 
----------------------------------------------------------------------------

Total revenue for the second quarter of 2014 increased 1% sequentially over the first quarter and increased 16% over the second quarter of 2013. EBITDA and net income decreased over both time frames due to increased investment in the company's cloud-based enterprise software division (MediaValet), corporate development activities, and higher financing costs.

"With the third and most advanced release of MediaValet due out later this year, our development team has grown over 300% in the past six months," commented David MacLaren, President and CEO of VRX Worldwide. "Our increased investment in product development, R&D, and other areas of our software business over the last six months is to increase our ability to capitalize on the surging demand for cloud-based enterprise software. In our case, this explosion in demand, combined with the rapid increase in the creation of digital assets by marketing departments, is driving the need - by large and small companies alike - for a cost-effective, scalable, and secure digital asset management solution."

Continued MacLaren, "We're seeing a seismic shift in how companies think about software and IT. The flexibility, affordability and security of the Cloud is having a major effect on department budgets and accountability throughout organizations. IT budgets are tending to shrink while Marketing, Sales and HR budgets are tending to increase. This shift is allowing departments to take accountability for their own software and IT needs - enabling them to move faster, be more productive and add more value to their organizations as a whole."

Subsequent Event - As announced on August 25th, VRX Worldwide has entered into an agreement to sell its photography services business for $3 million CDN. This transaction is part of VRX Worldwide's strategic restructuring to focus solely on its cloud-based enterprise software business under its brand, MediaValet. Upon closing, which is subject to shareholder and TSX Venture approval, VRX Worldwide Inc. will be renamed MediaValet Inc. and the company's trading symbol will be changed accordingly.

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 software and global photography 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."

Contacts:
Corporate Office:
David MacLaren
CEO
(604) 688-2321
[email protected]

Press Relations:
Asa Zanatta
(604) 688-2321
[email protected]

Investor Relations:
Mario Vetro
(604) 687-7130, x105
[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
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of I...
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ET...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, will discuss how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a prac...
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advance...