|
WirelessDevNet.com Press Release
NeoMedia’s Revenue Triples Over Previous Quarter
FORT MYERS, FLA., August 9, 2006 – NeoMedia Technologies, Inc. (OTC BB: NEOM), an innovator in market-driven technologies, has filed its second quarter Form 10-Q with the Securities and Exchange Commission, reporting what its CEO called “a continued dramatic improvement in revenues.”
Charles T. Jensen, NeoMedia’s president and CEO, said this was the first quarter in which all companies acquired by NeoMedia earlier this year (Mobot Inc. of Lexington, Mass., Sponge of London, U.K., Gavitec AG of Würselen, Germany, 12snap of Munich, Germany, and BSD Software Inc. of Calgary, Canada) were included for the full quarterly reporting period.
For the second quarter ended June 30, 2006, NeoMedia reported revenues of $6,606,000, a 222% increase over the $2,052,000 reported for the first quarter of fiscal 2006, and more than 1,100% better than the $538,000 reported for the second quarter of fiscal 2005.
The company reported revenues for the first half of 2006 of $8,658,000, or 574% higher than last year’s first half revenue of $1,285,000.
NeoMedia reported net income for the second quarter of $5,133,000 and a loss from operations of $5,913,000, as compared with a net loss of $2,300,000 and a loss from operations of $2,164,000 for the same quarter in 2005, respectively. Net income for the first half of 2006 was $3,815,000 and loss from operations was $10,042,000, as compared with a net loss of $3,519,000 and a loss from operations of $3,544,000 for the first half of 2005.
NeoMedia reported a non-cash income of $11,025,000 and $15,794,000 during the second quarter and first half of 2006, respectively, resulting from a decline in the fair value of derivative financial instruments on its consolidated balance sheet. NeoMedia also implemented Statement of Financial Accounting Standards 123R (SFAS 123R) on January 1, 2006, resulting in a second quarter charge of $1,072,000. Instituted by the Financial Accounting Standards Board, SFAS 123R requires companies to expense stock-based compensation.
NeoMedia Technology: Mobile Marketing Building Blocks for International Companies
Mr. Jensen said that “NeoMedia’s continued dramatic improvement in revenues was driven by subsidiary operations in Europe and Canada, as well as by the parent company and its business units here in the U.S. and abroad. Our subsidiaries continue to do business with giant, international companies, including Kraft and Coca-Cola, who are using NeoMedia’s patented and proprietary technologies as building blocks for their expanding mobile marketing programs.”
About NeoMedia Technologies, Inc.
NeoMedia Technologies, Inc. (www.neom.com), is a diversified global company offering leading edge, technologically advanced products and solutions for companies and consumers, built upon its solid family of patented products and processes, and management experience and expertise. Its NeoMedia Mobile group of companies offers end-to-end mobile enterprise and mobile marketing solutions, through its flagship qode® direct-to-mobile-web technology and ground-breaking products and services from 4 (shortly to be 5) of the USA’s and Europe’s leading mobile marketing providers. By linking consumers and companies to the interactive electronic world, NeoMedia delivers one-to-one, permission-based, personalized and profiled dialogue – anytime and anywhere.
|
