Destiny Media Technologies Announces Company's First Operating Profit
Vancouver, British Columbia, April 14, 2003 - Destiny Media Technologies, Inc. (OTCBB: DSNY; Berlin: DME 935 410) is pleased to announce that it has achieved record Q2 revenues of $292,702 and an operating profit for the quarter of $27,310. Revenues for the quarter are 86% higher than Q2 2002 and expenses are 18% lower.
Comments Destiny CEO, Steve Vestergaard, "Q2 is traditionally slow for us because of Christmas, but sales have continued to be strong this year. Revenues are becoming more predictable, so I expect this positive trend to continue into the future. We intend to finance further growth of the company through reinvestment of our profits and do not expect to pursue further equity financings in the near term."
Destiny Media Technologies, Inc. (http://www.dsny.com) is a leader in developing easy-to-use tools for distributing digital media through the Internet. The company's suite of streaming and downloadable products include : Clipstream™, Destiny Media Player ™, Radio Destiny ™ and MPE ™. 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
"Safe Harbor'' statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.