QuoteMedia, Inc. (QMCI.OB) Reports 49% Increase in Revenue for 2007
QuoteMedia, Inc., a leading provider of market data and financial applications, released its financial results for the fiscal year ended December 31, 2007 which reflects a 49% increase in revenue. The Company reported $5,569,107 in revenues versus $3,742,534 in 2006. They also showed a 19% increase in deferred revenue for payments received in advance from customers. The deferred revenue will be recognized as revenue in future quarters when the services are performed, according to the company. In view of the company’s revenue increase, Robert J. Thompson, Chairman of the Board of QuoteMedia, Inc stated, “In 2008, we already have sales…