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IO World Media Announces Second Quarter Results

Monday, August 15, 2011 10:03 AM

The Company's revenue increased 147% in Q-2 2011 as compared to Q-2 2010 and 105% for the six months ended in June 2011 as compared to June 2010

IO World Media ("IOWorld" or "the Company") (OTCPK: IWDM) reports revenue of $473,321 in the second quarter of 2011 as compared to $191,544 for the same period in 2010. After the removal of non-reoccurring expenses of $132,871 the Company reported a net loss of $197,774 as compared to $274,323 for the same period. The Company also reported cash on hand of $420,051 as of June 30, 2011 as compared to $118,254 at the end of the same period in 2010.

"We are pleased with our results from operations in the second quarter as we continue to experience growth and see significant increases in revenue from all of our business units which is helping the company build a sound and balanced operating foundation," said Thomas Bean, CEO of IO World Media. "Further, with the elimination of non-reoccurring expenses, we continue to move closer to profitability and see both our short-term and long-term plans reaching fruition."

It is important to note that the revenue results reported in the second quarter include revenue that was received during the very successful launch of RadioioLive and the Early Enlistment Program for the Bubba Army. This revenue will be recognized pro rata over the thirty-six month life of the Early Enlistment subscriptions in accordance with GAAP.

IO World Media, Inc. is an internet media platform that delivers streamed audio product to distinctively different audiences for the purposes of generating revenue and profits. Its three operating businesses are: 1) Radioio where IWDM streams a broad variety of different music genres to paying subscribers. The advantages here are that subscribers can receive extraordinarily high-quality fidelity music via 70+ different channels with, or without, advertising interruptions. 2) IO Business Music is the 21st century adaptation of the nearly century-old business background music found in restaurants, elevators, office building lobbies, etc. The advantage here is lower cost, far better fidelity and far greater flexibility regarding programming. 3) Radioio Live is a wholly new operation that focuses on providing the Company's listeners with access to live and archived proprietary talent content. Bubba the Love SpongeĀ® is the first of the Radioio Live producers of live content.

Certain statements in this release could constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except as otherwise stated in this news announcement, IO World Media, Inc. does not undertake any obligation to publicly update or revise any forward-looking statements because of new information or future events.

(Source: Business Wire )
(Source: Quotemedia)


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