QuoteMedia, Inc. (QMCI.OB) Revenues Increase 56% in Second Quarter of 2007
QuoteMedia announced that its second quarter revenues increased from $852,871 in 2006 to $1.33 million, a 56% increase. The company’s deferred revenue balance, payments received in advance from customers that will be recognized as revenue in future quarter once services are performed, increased 48%. Keith Guelpa, President of QuoteMedia, Inc., stated, “QuoteMedia continued on the path of revenue building during the first half of 2007. The revenue increases reported largely reflect the strong continuing trend towards an increasingly broad market acceptance of our traditional products. They also indicate the early phase impact of the recent introduction of our expanded data…