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Destiny Media Announces Q1 Results
By: PR Newswire
Jan. 15, 2013 12:03 AM
Net Income Strengthens Over Prior Year
VANCOUVER, Jan. 15, 2013 /PRNewswire/ - Destiny Media Technologies (TSXV: DSY) (OTCBB: DSNY) is pleased to announce Q1 results which cover the period September 1 - November 30th, 2012. Total revenue of $1,063,867 was up 13% from the prior quarter reflecting the seasonality of the Play MPE® media delivery service but down 5% from the prior year due in part to unfavorable exchange rates and slightly reduced record label activity in North America.
Net income increased to $160,050 from $12,555 in 2012 as litigation costs were virtually eliminated. Total expenses of $859,483 were down 23% from the prior year, reflecting a 60% decline in G&A expenditures.
About Destiny Media Technologies, Inc.
SOURCE Destiny Media Technologies, Inc.
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