SANTA MONICA, CA--(Marketwired - Sep 9, 2015) - U-Vend, Inc., a consumer products and technology company that develops, distributes and markets next-generation self-serve electronic kiosks in a variety of retail environments across North America, announced its financial results for the second quarter ended June 30, 2015.
"Although we are very pleased with the revenue traction we've experienced in the first half of 2015, I am even more excited about the foundation and relationships we are building for U-Vend's future," stated Raymond Meyers, CEO of U-Vend, Inc. "Our commitment to increasing shareholder value through the strategic execution of our business plan remains our highest priority. We continue to evaluate new product offerings, strengthen our existing product offerings, expand our distribution network, and explore potential synergistic M&A opportunities," added Meyers.
Select Company Highlights Included Within 2015 Second Quarter Report
- Introduced a novelty, premium ice cream product and subsequently entered into multi-year licensing agreement with the National Hockey League becoming "Official Ice Cream of the NHL"
- Launched and expanded market presence of our self-serve kiosk locations into the Southern California and Las Vegas, NV markets
- Announced partnership with Anaheim Ducks RINKS program
- Appointed Mr. Mark A. Chapman, an experienced and successful consumer products executive to the management team
- Partnered with Ingram Micro Canada to launch an automated retail platform for mobile phone market
Select Financial Data for Three and Six Month Period Ended June 30, 2015
- Second quarter revenues increased by $162,445, or 360%, to $224,463 for the quarter ended June 30, 2015 as compared to revenues of $62,008 for the quarter ended June 30, 2014.
- Gross profits for the second quarter ended June 30, 2015 were $89,742, an increase of $61,705, or 320%, as compared to gross profit of $28,037 for the three months ended June 30, 2014.
- Net loss for the quarter ended June 30, 2015 was $321,893, a decrease of $253,221, or 44%, as compared to a net loss of $575,114 for the quarter ended June 30, 2014.
- Basic and diluted net loss per share of ($0.02) per common share for the quarter ended June 30, 2015 compares to the ($0.07) net loss per common share for the quarter ended June 30, 2014.
- Revenues for the six months ended June 30, 2015 were up $253,576, or 365%, to $349,212, as compared to revenue of $96,636 for the six months ended June 30, 2014.
- Gross profit for the six months ended June 30, 2015 was $133,943, an increase of $92,288, or 321%, from a gross profit of $41,655 for the six months ended June 30, 2014.
- Net loss for the six months ended June 30, 2015 decreased by $352,765, or approximately 30%, to $812,725 as compared to a net loss of $1,165,490 for the six months ended June 30, 2014.
- Basic and diluted net loss per share of ($0.07) per common share for the six months ended June 30, 2015 compares to the ($0.15) net loss per common share for the six months ended June 30, 2014. Full report.
