Gross Profit Margins Increase to 87.1%, Cash on Hand Increases 13 Fold
FORT LAUDERDALE, FL - (NewMediaWire) - September 21, 2015 - RealBiz Media Group, Inc. (
Third Quarter Financial Highlights:
- Total revenues increased 22.9% to $337,500, compared to $274,712 in the third quarter of 2014.
- Gross profit margins increased to 87.1% for the quarter versus 37.8% during Q3 2014.
- Operating loss was $715,818 compared to an operating loss of $842,188 during the same timeframe last year.
- Net loss of $1,897,000 or .02 EPS versus a net loss of $949,008 or .01 EPS. The majority of the losses came from non-cash events that will not be recurring in future quarters.
Third Quarter Highlights:
- Reached major financial milestone including increased revenues, significantly higher gross profit margins and reduced expenses
- Launched PowerAgent
- Completed Unique Lead Generation Platform
- Continued Partnerships with many of the largest companies in the industry
- $250,000 Direct Investment from Chairman of the Board, Don Monaco
Highlights for the nine months, ending July 31, 2015 included:
- Total revenue increased 23.1% to $951,614 compared to $773,326 in Q3 2014
- Cash position increased thirteen fold and continues to increase
- Total currents assets tripled
"We are pleased with many of the financial results we are beginning to achieve. Our new products were just recently launched into the marketplace and we are already seeing results. We believe that PowerAgent will be a key driver of increased revenue during Q4. The company continues to accelerate revenues and lower costs, resulting in more favorable financial results. The company considers controlling stock dilution a priority and will likely not participate in dilutive programs moving forward," stated Alex O. Aliksanyan, CEO of RealBiz Media Group.
For a full earnings report please view our entire filing at www.sec.gov
About RealBiz Media Group, Inc.
RealBiz Media Group, Inc. is a real estate digital media and technology company whose proprietary video processing technology makes it one of the leaders in providing home video tours to the real estate industry. Its client base reaches more than 350,000 real estate agents and brokers. The company provides a series of products including a consumer portal at http://www.nestbuilder.com, an agent-only platform known as PowerAgent, an agent social media and marketing solution known as ReachFactor, a growing MVA network, virtual tours and mobile apps. The company enjoys access to many of the nation's largest real estate companies with numerous approved vendors and national contracts.
Safe Harbor Statement
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