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Modavox Reports Record Second Quarter Results
Company Reports Year over Year Quarterly Net Income Increased 194% on Year over Year Quarterly Revenue Growth of 62%
PHOENIX --
Modavox, Inc. (OTCBB:MDVX - News), Internet broadcasting pioneer in producing and syndicating online audio and video, today announced its fiscal second quarter earnings for the quarter ended August 31, 2007.
For the quarter ended August 31, 2007 the company realized revenues of $1,131,882 compared to $698,946 for the quarter ending August 31, 2006. During the quarter ended August 31, 2007, the Company reported net income of $158,013 compared to a net income of $53,708 in the 2006 quarter. The increase of $432,926 and net profit of $104,305 is due in part to the increases in the Internet Radio Division, World Talk Radio acquired on March 3, 2007, and our Interactive Division respectfully. Please review the full description of revenue details online at www.sec.gov.
For the six months ended August 31, 2007 the company realized revenues of $1,734,220 compared to $1,131,849 for the six months ending August 31, 2006. The increase in revenues for the six months ending August 31, 2007 is due in part to the increases from our Internet Radio Division, World Talk Radio acquired on March 3, 2007, and our Interactive Division respectfully. During the six months ended August 31, 2007, the Company had a net loss of $179,818 compared to a net loss of $615,514 in 2006. The decrease in net loss for the six months ended August 31, 2007 is due to the increased revenue realized through our sales divisions. Please review the full description of revenue details online at www.sec.gov.
Modavox CEO David J. Ide stated, "The past quarter represents record and notable progress for our company. The results of our Broadcast Media Division continue to remain encouraging with strong contributions from our World Talk Radio and VoiceAmerica Networks. We've successfully created new opportunities for advertisers by producing high quality innovative shows delivered over our industry leading patented Boom Box Radio® platform. Assuming continued execution, our programming and growing global audiences combined with patented advertising integrated into our radio distribution strategies are expected to provide Modavox a strong foundation to leverage future growth. "
Mr. Ide further stated, "The continued refinement of our Interactive Media Division has the potential to continue to yield further product enhancements for our VoiceAmerica, World Talk Radio, and e-Learning platforms. In addition the company has made some progress in the productizing our Interactive Division offering. We continue to create commercial grade products, which are customizable, and solid platforms for content delivery. We are pleased with the results of our quarterly review however we are keenly aware and understand that expectations remain high for our young company and much work remains to be done. With this said, we remain optimistic that continued execution of our business plan will provide long term sustainable value to our shareholders."
About Modavox
Modavox, Inc. (www.modavox.com), a pioneer in internet broadcasting, producing and syndicating online audio and video, offers innovative, effective and comprehensive online tools for reaching targeted niche communities worldwide. Through patented Modavox technology, Modavox delivers content straight to desktops and internet-enabled devices.
Media Contact:
Sonja Darte'
VoiceAmerica Network / Modavox, Inc.
Sonja.darte@modavox.com
480-294-6404
SS | PR
Jason Ovitt,
jovitt@sspr.com
847-415-9326
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