rVue Holdings, Inc. Reports Full Year 2012 Financial Results
CHICAGO--(BUSINESS WIRE)-- rVue Holdings, Inc. (OTCBB: RVUE), the premier advertising technology platform for digital out of home media, announced its financial results for the full year ended December 31, 2012.
Summary Results for the Full Year of 2012:
- Total revenue was $602,363 for fiscal 2012; down slightly from $643,483 in the prior year.
- Core Fees: This is the focus of our business and source of future growth. Core revenue for the years ended December 31, 2012 and 2011 were, $197,444 and $203,276, respectively.
- Non-Core Fees: For the years ended December 31, 2012 and 2011 were $404,919 and $440,207, respectively. The decline was due to the end of a management relationship with Auto Nation. This trend will continue in 2013 as we focus more resources on core business efforts. In addition the Mattress Firm merged with Mattress Giant and we respectfully agree not to renew for 2013 (this represented approximately $230,000 in revenue).
- Selling, general and administrative expenses was $2,328,669 in the full year of 2012, compared to $3,339,359 for the full year of 2011, a reduction of $1,010,690 in the year due to cost controls, change in management and a shift to more media focused transactions.
- Net loss for the full year of 2012 was ($3,839,348) compared to a net loss of ($3,616,973) in the 2011.
- As of December 31, 2012 the company had $850,000 of cash.
As Michael Mullarkey (prior CEO and Executive Chairman) mentioned, "2012 was a transformative year for the company. We established our leadership position as the largest outdoor digital media platform connecting over 770,000 screens across 180+ networks."
Mark Pacchini (CEO and President) added, "With our expenses under better control, our focus going forward will be on providing our clients with business building ideas and world class service. If we deliver this, it should result in revenue growth."
Conference Call Information:
A conference call will take place at 9:00 a.m. CT on Tuesday, July 9, 2013.
Anyone interested in participating should call *Toll-Free: (866) 376-0342
International dial-in number: (408) 773-6761
Conference code: 3986559170
rVue Holdings, Inc. is an advertising technology company providing the digital distribution platform for the Digital Outdoor Advertising industry. The company connects 770,000 digital screens across 180 networks delivering access to 250 million daily impressions in one simple platform. Backed by the industry's most intuitive and intelligent platform, rVue has the technology, data and expertise to connect brands and targeted consumers where and when it matters most. For more information, please visit http://www.rvue.com.
Forward Looking Statements:
Business and Press Inquiries:
rVue Holdings, Inc.
Dean Peterson, 312.219.8835
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