Narrowstep up 49%
January 15, 2008
Narrowstep, the internet tv provider, says revenues for the three months ended November 30, 2007 increased by $571,571, or 49 per cent. The company says the increase in quarter-to-date and year-to-date revenue resulted primarily from the addition of new customers while focusing on retaining its larger and more profitable customers.
Operating costs for the quarter decreased by 19 per cent to $4,555,117 compared to $5,594,024 for the previous quarter. The Company had $6,558,875 in cash.
“Now that the investment phase in our platform is behind us, we will continue to focus on driving revenue,” said David C. McCourt, Chairman and Interim Chief Executive Officer. “We are excited about our pipeline of deals headed into 2008 and look forward to communicating the addition of new enterprise customers that fit our new strategic focus.”