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 quarter ended March, 31 2013.
Summary Results for First Quarter of 2013:
Total revenue was $137.5K for the first
fiscal quarter of 2013; up slightly from $131.5K the prior year.
Core Revenue: This is the focus of our
business and source of future growth. Core revenue for the quarter
ended March 31, 2013 was $79.3K up sharply (+63K) over Q1 2012 when it
Non-Core Revenue: For the quarters ended
March 31, 2013 and 2012 were $58.2K and $115.2K, respectively. As
stated earlier, the decline was due to the end of a management
relationship with Auto Nation. This downward trend in non-core revenue
is expected to continue through 2013 as we focus more resources on
core business efforts. In addition, the Mattress Firm merged with
Mattress Giant and we respectfully agreed not to renew for 2013.
Operating Expenses were $1,389.2M in the first quarter 2013, compared
to $1,865.2M in 2012, a reduction of $476K due to cost controls,
change in management and a shift to more media focused transactions.
Net loss for the first quarter 2013 was $1,251.7M compared to a net
loss of $1,733.7M in 2012. A drop of $482K.
As of March 31, 2013 the company had $741.8K of cash.
Mark Pacchini (President and CEO) said, our future focus is to provide
our clients with business building digital out of home media ideas and
world class service. If we deliver on this promise, we should drive
revenue growth in the second quarter and beyond.
Forward Looking Statements:
Copyright © Business Wire 2013
rVue Holdings, Inc.
Dean Peterson, 312-219-8835