Destiny Media Technologies Announces Second Quarter Results
Vancouver, BC - Destiny Media Technologies, Inc. (OTCBB: DSNY) announces second quarter results have been filed with Edgar.
Recognised revenues increased from $153,093 in Q1 to $157,768 in Q2 and expenses dropped from $373,852 in Q1 to $323,003 in Q2. The quarter to quarter loss for the period has fallen 26% from $219,147 in Q1 to $162,723 in Q2. The loss for the period is 72% lower than the Q2 2001 loss of $588,932.
Company CEO, Steve Vestergaard, comments on the results, "The company is strongly committed to building a profitable business. We expect a reduction in professional fees associated with the cancellation of the proposed CTI spin-out which was announced February 4th and a reduction in management expense because of the termination of two former officers. In addition, the company increased its sales force in Q2 to help meet the increasing demand we are experiencing for our Clipstream™ product suite."
According to Destiny VP Sales, Mark Toffoli, Clipstream™ is rapidly moving to become a mainstream application in advertising and direct marketing . Campaigns using the Clipstream™ software have been run promoting such notable brands as Nike, Worldcom and Bell Globemedia. OEM and reseller agreements have begun to mature into channels which will diversify and strengthen our base of predictable growing revenue. "
About Destiny Media Technologies, Inc.
Destiny Media Technologies, Inc. (http://www.dsny.com) is a leader in developing easy-to-use tools and enabling technologies to distribute digital media through the Internet. The company's suite of streaming and downloadable products includes: MPE™ (http://www.destinympe.com), a complete, secure media distribution system that provides e-commerce and digital rights management directly from within an MP3-compatible multimedia file; Clipstream™ (http://www.clipstream.com), a java-based tool which enables web pages, e-mail and banners to stream audio without the use of a player; Video Clipstream™ (http://www.videoclipstream.com), a technology for embedding streaming video into a web page or e-mail; and the RadioDestiny Broadcaster™ (http://www.radiodestiny.com), which allows a user to webcast live or scripted internet radio from a computer to anyone on the Internet. Established in 1991, the company is headquartered in Vancouver, Canada.
For more information contact:
|Destiny Media Technologies, Inc.|
President & CEO
Destiny Media Technologies, Inc.
604-609-7736 ext. 222