Roomlinx, Inc., a provider of in-room media, entertainment, and Wi-Fi solutions in hotels, resorts, and time-share properties, has recently announced its 2011 first quarter financial results. The results have reflected continuous increases in revenues and gross profits, along with a contribution of Canadian Communications.
Roomlinkx’s revenue for the first quarter of 2011 was reported at $1,423,172, representing a 262% improvement from the first quarter of 2010. This improvement was mainly because of recurring revenue streams and recent property installations of their TV platform, as well as revenue streams obtained through the acquisition of Canadian Communications, which were not present for the 2010 financial year.
Roomlinx’s gross profit for the first quarter of 2011 arrived at $462,031, a 197% increase from the first quarter of 2010, attributed mainly to the increased sales aforementioned above.
Net loss for the first quarter of 2011 was reported to be $539,177, in comparison to the net loss of $376,236 for the first quarter of 2010. This increase was mainly caused by investments made to improve their iTV platform. The improvements included the integration of Internet applications, such as Hulu and Netflix, along with a developmental effort to combine traditional TV programming into their preexisting iTV platform.
“It is clear hotel guests want a broad selection of entertainment options, including Internet based content, games, and information,” stated Mike Wasik CEO of Roomlinx. “Roomlinx has the unique ability to satisfy these evolving habits while creating new streams of revenue. We will continue to prove these revenue streams extend far beyond traditional video on demand.”
The company also recently announced the completed installation of its new product concept called the SmartRoom(R) at the historic Penn’s View Hotel in Philadelphia. Roomlinx SmartRoom(R) Technology allows properties to create a smarter room, catering to business and leisure travelers and including full usage of Roomlinx’s award winning Interactive TV (iTV) product.
“The Roomlinx installation was the smoothest installation I’ve experienced and the SmartRoom(R) Technology has provided a unique amenity for my property that sets it apart,” said Carlo Sena, Owner and General Manager of the Penn’s View Hotel. “As part of the installation, Roomlinx installed iTV with no capital outlay to the property.”
“We are pleased to see the SmartRoom(R) concept gaining traction,” said Mike Wasik, CEO of Roomlinx. “It is clear hotels are looking for a premium product and differentiation, and the SmartRoom(R) delivers.”
For more information on the company, visit their website: www.roomlinx.com
Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.