RE: RE: RE: Financials Revenue
Revenue for the quarter ended June 30, 2012 was $1,298,315 compared to $1,375,005 for the quarter ended June 30, 2011, representing a decrease of 6%. The contribution from the Graphic Services division was $889,205 and $256,110 was delivered by the New Media division. The Graphic Services had its revenue decrease by 20% from $1,111,647 for the quarter ended June 30, 2011 to $889,205 for the quarter ended June 30, 2012. This decrease was mainly as a result of a difficult economic climate in the print marketplace. Revenue from the New Media division for the quarter ended June 30, 2012 was $256,110 compared to $263,358 for the quarter ended June 30, 2011, representing a 3% decrease. The revenue was primarily driven from to the users of itiBiti’s own version of its desktop app - KNCTR®. Revenue was also derived from advertising impressions from the Ortsbo platform along with revenue contributions from Ad Taffy and Deal Frenzy. The revenue figures from these entities were not significant in the three month period ended June 30, 2011. The Company is continuing to develop its New Media division, and management expects this segment to ultimately out-perform
the Graphic Services division.