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Metatron Inc. Third Quarter Results and Company News(November 15, 2011)
DOVER, DE -- (Marketwire) -- 11/15/11 -- Metatron Inc. (PINKSHEETS: MRNJ)
METATRON, Inc., a leading digital content distribution services provider and developer for mobile device platform provider, is pleased to announce its operating results for its third quarter and nine months ended September 30, 2011.
2011 Q3 Revenue was $109,186, a 23% increase from 2010 Q3 Revenue which was $88,422.
Revenue for the first nine months of 2011 was $366,175, a 104% increase from $178,784, the Revenue for the same time period last year.
Metatron realized its 11th consecutive quarter of year over year revenue growth, and by the third quarter 2011 has more than doubled the revenue realized in all of 2010. Management expects this trend to continue into the Holiday season which is traditionally the strongest sales period for our products and services. November 13th, 2011 was the biggest sales and download day in the last sixty days and we are just starting the Holiday season.
Total Expenses for the first nine months of 2011 was $437,474, a 37% decrease from $602,186, the Total Expenses for the same time period last year.
Expenses increased sequentially in the third quarter, in part due to higher development costs of our more sophisticated apps, which contain large amounts of content and offer rental, pay-per download and subscription payment options. The first generation of these new apps were released in the third quarter of 2011 and are now for sale on iTunes. Overall expenses for the first nine months decreased significantly, compared to the same time period last year, as the Company becomes more efficient and streamlines operations.
Additional services offered this quarter by Metatron's app division i-Mobilize include white label software development and expanded digital distribution of content on numerous name-brand platforms. The third quarter also saw the signing of several significant content deals adding to the thousands of movie, music, audiobook and ebook titles already under contract.
Metatron's complete 2011 3rd Quarterly report has been published and can be found on the OTC Markets Website at http://www.otcmarkets.com/stock/MRNJ/financials.
Metatron/i-Mobilize has had a record 950,000+ iOS App downloads so far this year, which represents an increase of over 900% compared to this time last year, primarily due to the addition of free apps that generate revenue via iAds, and the release of popular paid apps. The Company now has 1426 apps currently for sale on iTunes and has developed 1744 apps total for all platforms which have generated over 3,000,000 iAd impressions.
4th Quarter Outlook
The company expects to continue to expand efforts in the following areas in the 4th quarter:
- Leveraging the currently existing mobile content and extracting greater revenue per app.
- Launching initiatives aimed at increasing market visibility and brand awareness.
- Continued focus on creating and releasing mega-apps in the form of recurring subscriptions or rental based.
- Updating existing iOS apps with improved content and Universal format (iPhone/iPad/iPod touch)
- Utilizing broader distribution channels for its content and mobile applications
- Broader spectrum of content deals
Management is pleased with the 104% increase in revenues and 37% decrease in expenses for the first 9 months of 2011 as compared to the first nine months of 2010. We appreciate the commitment, loyalty and feedback from our customers and shareholders as we grow and gain traction in our business. As we enter the pre- and post-holiday season, we are excited about the myriad of untapped growth opportunities and the expected launch of our ongoing initiatives.
Forward-Looking Statements: Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results of the specific items described in this release, and the company's operations generally, to differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's need for additional financing, which is not assured and which may result in dilution of shareholders, the company's status as a small company with a limited operating history, dependence on third parties and the continuing popularity of the iOS operating system, general market and economic conditions, technical factors, receipt of revenues, and other factors, many of which are beyond the control of the company. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of such statements, and we disclaim any obligation to update information contained in any forward-looking statement.
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