QuoteMedia, Inc. (QMCI.OB) Announces Substantial Gain in Revenue for Fiscal Year 2007
QuoteMedia, Inc. (QMCI.OB) recently announced a 49 percent increase in revenue for the fiscal year ending December 31, 2007. In 2006, it reported revenue of $3,742,534, while 2007 results equaled $5,569,107. Deferred revenue, which represents customer payments received in advance that will be recognized as revenue once services are rendered, had a reported increase of 19 percent in comparison to the previous fiscal year. 2007 deferred revenue was reported at $433,630, while 2006 reported results of $363,785. Robert Thompson, Chairman of the Board of QuoteMedia, reported, "We added trading data from over 40 international exchanges, as well as corresponding supplemental…