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VRX Worldwide Reports 2012 Annual Results

Apr 30 2013 12:00AM

Marketwire

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VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/30/13 -- VRX Worldwide Inc. (TSX VENTURE: VRW), a global provider of photography, content hosting, distribution and licensing, and cloud-based digital asset management services, is pleased to report it's annual and fourth quarter results for 2012.

---------------------------------------------------------------------- 2012 2011 2010----------------------------------------------------------------------Total revenue $ 3,213,772 $ 3,243,586 $ 4,029,647----------------------------------------------------------------------Gross profit $ 1,783,237 $ 1,845,030 $ 2,542,002----------------------------------------------------------------------EBITDA $ 334,553 $ (366,730) $ 591,719----------------------------------------------------------------------Net income (loss) $ 13,057 $ (619,185) $ 275,008----------------------------------------------------------------------Earnings (loss) per share $ 0.00 $ (0.02) $ 0.01----------------------------------------------------------------------Total assets $ 1,618,141 $ 1,107,431 $ 1,251,438----------------------------------------------------------------------Summary of Quarterly Results (Unaudited)---------------------------------------------------------------------------- 2012 Q4 2012 Q3 2012 Q2 2012 Q1 2011 Q4----------------------------------------------------------------------------Total revenue $ 875,553 $ 923,788 $ 780,772 $ 633,659 $ 682,426----------------------------------------------------------------------------Gross profit $ 497,568 $ 485,915 $ 428,796 $ 370,958 $ 326,538----------------------------------------------------------------------------EBITDA $ 131,593 $ 156,258 $ 53,586 $ (6,884) $ (147,374)----------------------------------------------------------------------------Net income $ 53,335 $ 56,188 $ (8,658) $ (87,808) $ (241,968)----------------------------------------------------------------------------Earnings per share $ 0.002 $ 0.002 $ (0.000) $ (0.003) $ (0.007)----------------------------------------------------------------------------Total assets $ 1,618,141 $ 1,476,084 $ 1,266,843 $ 1,125,440 $ 1,107,431----------------------------------------------------------------------------



Total revenue for the fourth quarter of 2012 decreased 5% ($48,235) from the third quarter of 2012 and increased 28% ($193,127) over the fourth quarter of 2011. The slight sequential decrease and the year over year increase in quarterly revenue is due to a higher percentage of high-end lifestyle and food and beverage projects offsetting VRX's year end seasonal downturn.

"2011 and 2012 were extremely tough yet rewarding years. We weathered the worst of the global economic downturn by continuing to reduce operating costs and prepared for the future by investing in cloud-based digital asset management technology," commented David MacLaren, President and CEO of VRX Worldwide. "We've achieved great success with VRX Studios over the years and survived where many have not. We've transitioned from solely licensing destination content, to providing exclusive production services to Expedia, to opening up our production services to all hospitality providers. Today, thirteen years later we're seeing tremendous growth opportunities for VRX Studios in global markets and the demand for MediaValet escalate as the need for enterprise class digital asset management services continues to grow."

The full financial statements and related MD&A are now available on the Company's website (www.vrxworldwide.com) and on SEDAR (www.sedar.com).

ABOUT VRX Worldwide Inc.

Through a decade of growth, innovation and an unwavering commitment to quality, consistency and customer service, VRX Worldwide is one of the world's leading providers of content production, management, distribution and licensing services. To find out more about VRX Worldwide, its products and services, visit www.vrxworldwide.com, www.vrxstudios.com and www.mediavalet.co. VRX Studios Inc., is a wholly owned subsidiary of VRX Worldwide Inc. (TSX VENTURE: VRW).

VRX Worldwide Inc.,

David MacLaren, CEO



Contacts:
VRX Worldwide Inc.
Investor & Public Relations
888.605.0059
info@vrxworldwide.com
www.vrxworldwide.com





Source: Marketwire


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