|By Marketwired .||
|November 14, 2012 11:32 AM EST||
ANGUILLA, BRITISH WEST INDIES -- (Marketwire) -- 11/14/12 -- Bingo.com, Ltd. (OTCQB:BNGOF), owner of the popular online gaming community http://www.bingo.com, today announced its unaudited financial results for the third quarter ended September 30, 2012. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.
Recent Bingo.com highlights include:
-- Net Income for the three months ended September 30, 2012 amounted to $29,002 compared to net loss of ($28,908) in the third quarter of 2012; -- Total revenue for the quarter ended September 30, 2012, was $457,748, an increase of 32% from revenue of $347,742 in the second quarter of 2012.
"The third quarter of 2012 was a strong one for Bingo.com," commented Jason Williams, Bingo.com's CEO. "Our strategy in the quarter was to increase our marketing activity to generate a large inflow of new players and increase our revenues. Our marketing during the quarter was well received by our target demographic and gaming activity on Bingo.com was improved across all categories. While many challenges remain, we are confident that with the current strategy in place, Bingo.com will continue to grow its player base, increase its revenues, and generate profits in future quarters."
Total revenue for the quarter ended September 30, 2012, was $457,748, an increase of 10% from revenue of $416,732 for third quarter of 2011 and an increase of 32% from revenue of $347,742, in the second quarter of 2012. Gaming Revenue was $445,237, an increase of 12% in the quarter ended September 30, 2012, compared Gaming Revenue of $398,803 in the third quarter of 2011 and an 31% increase from revenue of $339,869 in the second quarter of 2012. The increase compared to the third quarter of 2011 and the second quarter of fiscal 2012 is due to an increase in players as a result of increased marketing. We earned advertising revenue of $12,511 in the quarter ended September 30, 2012, a decrease of 30% from advertising revenue of $17,929 in the third quarter of 2011 and an increase of 59% from advertising revenue of $7,873 in the second quarter of 2012.
Operating costs before interest, and depreciation expenses, including sales and marketing and general and administrative expenses increased to $427,773 in the third quarter of 2012, an increase of 7% over operating expenses of $400,444 in the third quarter of 2011 and an increase of 14% over operating costs of $375,748 in the second quarter of 2012. The increase in operating expenses compared to the third quarter of 2011 and the second quarter of 2012, is due to the increase in marketing expenses.
Sales and marketing expenses were $310,712 for the quarter ended September 30, 2012, an increase of 42% over expenses of $219,578 in the third quarter of 2011 and an increase of 65% from expenses of $188,411 in the second quarter of 2012. Sales and marketing expenses principally include costs for Bingo.com marketing campaigns, affiliate commissions, search engine optimization, and other promotional expenses intended to increase our player base and improve gaming revenue. The increase in sales and marketing expenses for the quarter ended September 30, 2012, compared to the third quarter of 2011 and the second quarter of 2012 is due to a larger media budget in the third quarter of fiscal 2012 to drive additional players to the website.
Net income for the three months ended September 30, 2012, amounted to $29,002, a gain of $0.00 per share, an increase in net income compared to net income of $15,158, a gain of $0.00 per share for the same period in 2011 and an increase in net income compared to a net loss of ($28,908) or loss of ($0.00) per share in the second quarter of 2012.
We had cash of $574,787 and positive working capital of $980,660 at September 30, 2012. This compares to cash of $787,524 and positive working capital of $1,058,631 at December 31, 2011.
Bingo.com, Ltd. (OTCQB:BNGOF) is the parent company of the Bingo.com group of companies which own the popular online gaming community http://www.bingo.com. The Bingo.com website offers multiplayer bingo, slot machines, sweepstakes, and more. Players come together from around the world to chat, share, play and win at Bingo.com. The Bingo.com website has attracted millions of visitors from over 200 countries and is one of the most recognized and most visited bingo entertainment destinations on the Internet. Bingo.com operates its multi-language and multi-currency bingo and casino system as part of the Unibet partner program (http://www.poweredbyunibet.com). Bingo.com, Ltd. (OTCQB:BNGOF) trades on the OTCQB, the venture marketplace for companies that are current in their reporting with a U.S. regulator. Investors can find real time quotes and market information for the Company at http://www.otcmarkets.com/stock/BNGOF/quote.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by the company) contains statements that are forward-looking, such as statements relating to anticipated future success of the company. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the company. For a description of additional risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission. Specifically, readers should read the Company's Annual Report on Form 10-K/A, filed with the SEC on August 9, 2012, and the prospectus filed under Rule 424(b) of the Securities Act on March 9, 2005 and the SB2 filed July 17, 2007, for a more thorough discussion of the Company's financial position and results of operations, together with a detailed discussion of the risk factors involved in an investment in Bingo.com, Ltd.
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Dec. 6, 2016 09:00 AM EST Reads: 3,943
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Dec. 6, 2016 08:45 AM EST Reads: 7,116
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
Dec. 6, 2016 08:30 AM EST Reads: 873
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
Dec. 6, 2016 08:30 AM EST Reads: 1,327
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Dec. 6, 2016 08:15 AM EST Reads: 1,667
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Dec. 6, 2016 07:15 AM EST Reads: 1,830
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Dec. 6, 2016 07:15 AM EST Reads: 727
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
Dec. 6, 2016 07:00 AM EST Reads: 830
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Dec. 6, 2016 06:30 AM EST Reads: 1,121
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Dec. 6, 2016 06:00 AM EST Reads: 488
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, will share examples from a wide range of industries – includin...
Dec. 6, 2016 05:00 AM EST Reads: 1,652
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 6, 2016 04:45 AM EST Reads: 1,001
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Dec. 6, 2016 04:30 AM EST Reads: 1,935
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 6, 2016 12:45 AM EST Reads: 861
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
Dec. 6, 2016 12:30 AM EST Reads: 4,593
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
Dec. 6, 2016 12:30 AM EST Reads: 1,201
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Dec. 6, 2016 12:00 AM EST Reads: 911
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 5, 2016 10:30 PM EST Reads: 1,063
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
Dec. 5, 2016 08:45 PM EST Reads: 566
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Dec. 5, 2016 07:45 PM EST Reads: 2,100