NeoMedia Announces Third Quarter 2013 Results with Record Quarterly Operating Income

NeoMedia Announces Third Quarter 2013 Results with Record Quarterly Operating Income
Mobile Barcode Pioneer Reports 136% year-over-year quarterly revenue growth

http://www.businesswire.com/news/home/20131028005524/en

 

Boulder, Co.— October 28, 2013 -- NeoMedia Technologies, Inc. (OTCQB: NEOM), the pioneer in global mobile barcode management solutions, today announced its financial results for the third quarter of 2013. NeoMedia’s revenue increased by approximately 136% from the same prior year quarter due to the continued adoption and success of its barcode scanning app, NeoReader®, its barcode management platform, QodeScan®, and its IP licensing program.

 

NeoMedia also reported record operating income of $440,000 as compared to a $579,000 operating loss in the same prior year quarter.  NeoMedia reported an overall net loss of $26.2 million for the quarter as compared to net income of $19.5 million in the same prior year quarter, reflecting losses related to the application of financial instrument fair value accounting and certain other non-operational results.

 

NeoMedia has increased revenue to $3.9 million and generated an operating income to $622,000 during the nine months ended September 30, 2013 as compared to revenue of $1.9 million and an operating loss of $2.3 million in the same prior year period.  NeoMedia generated an overall net loss during the nine months ended September 30, 2013 and 2012 of $47.5 million and $21.9 million, respectively, including other operating losses of $48.2 million and $19.6 million, respectively, primarily due to the application of financial instrument fair value accounting, which does not reflect the company’s operational performance.

 

“We continue to build momentum,” said Laura Marriott, Chief Executive Officer. “In our second quarter of 2013, we announced our first quarterly operating income in the Company’s history.  We have built on that success in the third quarter of 2013 and are again reporting record operating income.  We have focused heavily on meeting our customer needs while also realigning our cost structure and these efforts have proven successful. We continue to believe the Company is well positioned to have the best year in its history and for future growth.”

 

About NeoMedia

NeoMedia Technologies, Inc. is the pioneer in QR and mobile barcode technology and infrastructure solutions that enable the mobile barcode ecosystem worldwide. Its solutions have transformed approximately 40 million mobile devices with cameras across 193 countries into barcode scanners, enabling a range of practical and engaging applications.  With its suite of products, services and extensive IP portfolio, NeoMedia is able to offer customers a comprehensive end-to-end mobile barcode solution. NeoMedia’s current customers include international brands, agencies and handset manufacturers.  The company also has a growing portfolio of patent licensees including Microsoft and Kraft Foods Group, Inc. Learn more at www.neom.com or one of our online destinations: LinkedIn, Twitter, Facebook and Pinterest. 

 

Safe Harbor Statement

Certain statements made in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended that are intended to be covered by the "safe harbor" created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "estimate," "anticipate" or other comparable terms. Forward-looking statements in this press release may address the following subjects among others: statements regarding the sufficiency of our capital resources, expected revenues, expected expenses and our expectations concerning our business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

 

For questions about this release, please contact Investor Relations at +1-303-546-7946, ir@neom.com