updated 11/12/2010 4:47:13 PM ET 2010-11-12T21:47:13

ORLANDO, Fla., Nov. 12, 2010 (GLOBE NEWSWIRE) -- Vidaroo (OTCBB:VIDA) today announced its operating results for the quarter ended September 30, 2010. Year over year revenue increased by 36% to $524 thousand, while operating margin improved by over 75% to $419 thousand. The Company continued to show a net loss but reduced that loss by $788 thousand to $163 thousand.

"It is a very exciting time for us," states Mark Argenti, CEO, "as the combination of our production and software licensing business units has combined to generate record quarterly revenues for the Company. Not only have we generated record revenues, we have done so in a way that continues to perform with very high margins, a powerful testament to the business model management has designed."

Separately, the Company also announced the appointment of Micheal Morgan to the Position of President. 

"Micheal has written the Company's proprietary video technology software," further states Mr. Argenti, "which is the cornerstone of our Software as a Service initiative. Micheal's leadership to date has positioned the Company for highly scalable growth in the future. We expect the combination of his past efforts and vision for the future to further position the Company for great success."
 

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 2.79%
$30K home equity loan FICO 5.78%
$75K home equity loan FICO 4.54%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.57%
13.57%
Cash Back Cards 17.91%
17.91%
Rewards Cards 17.15%
17.15%
Source: Bankrate.com