AllDigital Reports 2013 Financial Performance
01 4월 2014 - 5:15AM
-- Full-Year Revenue Grew 31% --
-- Gross Profit Increased 122% --
AllDigital Holdings, Inc. (OTCBB:ADGL), a leader in digital
broadcasting solutions, today announced improved financial results
for the full year ended December 31, 2013.
"2013 was a record year in terms of top line revenue, as well as
significant improvements to our gross margins and balance sheet
position," said Paul Summers, CEO of AllDigital. "As we pivot to
the next generation of our content management system currently
branded as AllDigital Cloud, we believe that we are well positioned
to introduce ultra-low latency technologies (ULL) that enable
highly innovative digital broadcasting solutions."
Total revenues for 2013 rose 31% to $4.3 million from $3.3
million in 2012, which also included recognition of completion
revenue related to contracts with new and existing customers.
Gross profit for the year increased 122% to $1.8 million from
$821,000 in 2012, primarily related to the increase in net sales
and minimal change in cost of sales from the previous year, which
included salaries and related payroll expenses.
Total operating expenses for 2013 were $2.4 million, compared
with $2.2 million in 2012. Net loss for 2013 was reduced to
$552,000 from $1.2 million in 2012.
"From a corporate perspective, 2013 was a productive period for
AllDigital. In terms of executive management, we expanded our team
across technical operations, accounting, operations and executive
sales," Summers said. "At the same time, we continued to make great
strides gaining more exposure and recognition in the industry,
including the inclusion of AllDigital in Streaming Media magazine's
list honoring 100 of the most innovative and influential companies
in the online video industry.
"As we continue to move toward a 'platform as a service' model
and as current integration projects near completion, we anticipate
that our integration services revenue, as a percentage of total
revenue, may decrease in 2014. However, our focus for the year will
be to add additional clients through organic growth and potential
acquisitions, increase monthly recurring revenue as a percentage of
total revenue, and improvements in gross margins," Summers
added.
About AllDigital Holdings, Inc.
AllDigital Inc., a leader in digital broadcasting solutions, is
the developer of AllDigital Cloud, a content management system
(CMS), focused on the high-speed management and delivery of data
and related digital media content. AllDigital Cloud supports
multiple types of connected devices including mobile, desktop, and
digital television, providing total control over the global
distribution of digital media assets. Serving media and
entertainment companies, enterprise brands, non-profit and
government organizations, AllDigital sets itself apart by offering
highly scalable and ultra-low latency (ULL) digital broadcasting
solutions, including cloud storage, origin transit, content
management solutions, integration services, and related customer
support. For more information on AllDigital, please visit
http://www.alldigital.com.
Forward-Looking Statements
This release may contain forward-looking statements as well as
historical information. Forward-looking statements, which are
included in accordance with the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995, may involve
risks, uncertainties and other factors that may cause AllDigital's
actual results and performance in future periods to be materially
different from any future results or performance suggested by the
forward-looking statements in this release. These risks and
uncertainties include, without limitation, whether AllDigital will
successfully introduce ultra-low latency technologies (ULL) that
will enable highly innovative digital broadcasting solutions,
whether current integration projects will be completed in a timely
manner, whether integration services revenues as a percentage of
revenues will decrease in 2014, and whether AllDigital will
successfully add additional clients through organic growth and/or
through acquisitions, increase monthly recurring revenues as a
percentage of total revenues and improve gross margins in 2014. In
addition, other risks are identified in AllDigital's most recent
Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed
with the Securities and Exchange Commission. Such forward-looking
statements speak only as of the date of this release. AllDigital
expressly disclaims any obligation to update or revise any
forward-looking statements found herein to reflect any changes in
company expectations or results or any change in events.
(Tables Follow)
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| ALLDIGITAL HOLDINGS,
INC. |
| CONSOLIDATED STATEMENTS
OF OPERATIONS |
| |
|
|
| |
Year Ended December
31, |
| |
2013 |
2012 |
| Net sales |
$ 4,327,227 |
$ 3,307,167 |
| Cost of sales |
2,505,925 |
2,486,388 |
| Gross
profit |
1,821,302 |
820,779 |
| Operating expenses |
|
|
| Selling, marketing, and
advertising |
537,496 |
600,789 |
| General and
administrative |
1,898,493 |
1,587,445 |
| |
|
|
| Total operating
expenses |
2,435,989 |
2,188,234 |
| |
|
|
| Operating loss |
(614,687) |
(1,367,455) |
| |
|
|
| Total other income
(expense) |
63,976 |
196,646 |
| Loss before provision for income
taxes |
(550,711) |
(1,170,809) |
| Provision for income
taxes |
1,600 |
2,400 |
| Net loss |
$ (552,311) |
$ (1,173,209) |
| Basic and diluted net loss per
share |
$ (0.02) |
$ (0.05) |
| Basic and diluted weighted-average
shares outstanding |
26,642,459 |
25,405,892 |
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|
| ALLDIGITAL HOLDINGS,
INC |
| CONSOLIDATED BALANCE
SHEETS |
| |
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|
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December
31, |
| |
2013 |
2012 |
| ASSETS |
|
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| Current Assets |
|
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| Cash and cash equivalents |
$ 1,300,932 |
$ 462,761 |
| Accounts receivable, net of
allowance of $10,000 and $0 |
454,733 |
122,064 |
| Prepaid expenses and other
current assets |
82,324 |
53,362 |
| Total current assets |
1,837,989 |
638,187 |
| Property and Equipment,
net |
86,648 |
80,311 |
| Other Assets |
|
|
| Deposits |
11,164 |
11,164 |
| Intangibles – domain name |
22,000 |
19,750 |
| Total assets |
$ 1,957,801 |
$ 749,412 |
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| LIABILITIES AND STOCKHOLDERS'
EQUITY (DEFICIT) |
|
|
| Current Liabilities |
|
|
| Accounts payable and accrued
expenses |
$ 563,889 |
$ 520,308 |
| Deferred revenue |
355,770 |
347,773 |
| Total current liabilities |
919,659 |
868,081 |
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| Stockholders' Equity
(Deficit) |
|
|
| Preferred stock, $0.001 par
value, 10,000,000 shares authorized, none and none issued and
outstanding, respectively |
-- |
-- |
| Common stock, $0.001 par value,
90,000,000 shares authorized, 33,231,977 and 25,440,728 issued and
outstanding, respectively |
33,233 |
25,441 |
| Additional paid-in capital |
3,978,462 |
2,277,132 |
| Accumulated deficit |
(2,973,553) |
(2,421,242) |
| Total stockholders' equity (deficit) |
1,038,142 |
(118,669) |
| Total liabilities and stockholders'
equity (deficit) |
$ 1,957,801 |
$ 749,412 |
CONTACT: Investor Contact:
PondelWilkinson
Evan Pondel
epondel@pondel.com
(310) 279-5980
Media Contact:
PondelWilkinson
Ron Neal
rneal@pondel.com
(310) 279-5980
AllDigital (CE) (USOTC:ADGL)
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부터 10월(10) 2024 으로 11월(11) 2024
AllDigital (CE) (USOTC:ADGL)
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