ORLANDO, Fla., Sept. 24, 2010 (GLOBE NEWSWIRE) -- Vidaroo (OTCBB:VIDA) today announced its Operating results for the year ended June 30, 2010. Revenue increased by 19% to $1.3 million while Operating Margin improved by over 55% to $.96 million. The Company continued to show a net loss but reduced that loss by $.75 million to just under $2.5 million.
"We are pleased to see the growth in demand for both our online video platform and production services," states Mark Argenti, CEO. "Our production offerings have been valued by our clients for many years for the same high quality now being discovered in our online video solution."
"The growth of both our revenue and margins demonstrates the focus of the Company to produce product offerings that are valuable to both our clients and shareholders," says Tom Moreland, CFO. "We look forward to focusing on maintaining our margins while we grow the business in a methodical and sustainable fashion."
About Vidaroo Corporation
Vidaroo Corporation is a video technology company that provides the best-in-breed Online Video Platform, video production and advertising on its Online Video Network that reaches over 10 million visitors monthly. Vidaroo's Online Video Platform, Online Video Advertising Network and video production has earned the trust of a growing customer base including advertising agencies, iconic artists, media companies, organizations, businesses, and national brands such as Microsoft, Coca-Cola Company, Tribune News Company, Toyota, Emmis Communications, Clear Channel, Black Eyed Peas, Mary J. Blige, Britney Spears, Justin Timberlake and more. Vidaroo's Online Video Publishing Technology enables firms to easily create, deliver and monetize video and advertising delivery. See vidaroo.com
Some of the above statements may be 'forward-looking' statements as defined by section 27A(c)(1)(A)(i) of the Securities Act of 1933.
See vidaroo.com for a full safe harbor disclosure statement.
CONTACT: Vidaroo Corporation Tom Moreland tom.moreland@vidaroo.com