DENVER, May 18, 2011 (GLOBE NEWSWIRE) — Roomlinx, Inc. (OTCBB:RMLX), the innovative developer of hotel interactive TV applications, today announced 2011 first quarter financial performance, which reflect ongoing increased revenues and gross profits, as well as the contribution of Canadian Communications.
First Quarter of 2011 Operating Results:
Roomlinx’s revenue for the first quarter of 2011 was ,423,172. This represents a 262% improvement over first quarter 2010. This improvement is primarily due to revenue resulting from recent property installations and recurring revenue streams of their Interactive TV platform as well as the revenue streams acquired through the acquisition of Canadian Communications, which are not present in the prior year period.
Roomlinx’s gross profit for the first quarter of 2011 was 2,031. �This represents a 197% improvement over first quarter 2010 and is primarily due to the increased sales mentioned above.�� �
Net loss for the first quarter of 2011 was 9,177, compared to a net loss of 6,236 for the first quarter of 2010.�This increase was primarily attributable to investments made to enhance their iTV platform.�The enhancements included integration of internet apps such as Netflix and Hulu, as well as a development effort to integrate traditional TV programming into their exiting iTV platform.����
“It is clear hotel guests want a broad selection of entertainment options, including Internet based content, games, and information,” stated Mike Wasik CEO of Roomlinx.�”Roomlinx has the unique ability to satisfy these evolving habits while creating new streams of revenue.�We will continue to prove these revenue streams extend far beyond traditional video on demand,” stated Wasik.�
About Roomlinx, Inc.
Roomlinx is a leading provider of Interactive TV applications and premium media and entertainment content for hotels, resorts, and timeshare properties. For more information about Roomlinx, visit www.roomlinx.com.
Safe Harbor Cautionary Statement
Certain statements in this news release, including statements that we “believe,” “expect,” “intend,” “plan” or words of similar import, are forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans, new products and services and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: the company’s successful implementation of the new products and services, demand for the new products and services, the company’s ability to successfully compete against competitors offering similar products and services, general economic and business conditions; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of the Company’s Securities and Exchange Commission filings available at http://www.sec.gov, which you should carefully review. Roomlinx does not assume any obligation to update or revise any forward-looking statements, whether as the result of new developments or otherwise
CONTACT: Bob Wagener
Roomlinx
(720) 880 - 5155
bwagener@roomlinx.com
http://bit.ly/kwEz14
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