SoMedia Networks (
TSX: V.VID,
Stock Forum) didn’t waste any time in 2014 as the company announced its financial results for the fiscal term noting that the company had reached record sales growth with sales volumes hitting $970,654 representing a 125% increase to what was filed for 2013.
According to the
news release, the company also saw revenues increase 71% to $368,752 from the $215,723 reported in 2013. The aforementioned increases were attributed to the performance levels in three main areas: expansion of the corporate sales channel, increased order values and increased price per video.
The company also went on to note that it filed a backlog at year-end of $990,694 which was up 145% from last year along with an increase in average order size of 237% year-over-year and 32% over last quarter.
Sales to repeat partners was also up 64% over the matching 2013 quarter and 127% year-over-year while total operating costs shrank 10% from last quarter and 24% from last year.
Company co-CEO, George Fleming, commented, “I am extremely pleased with what SoMedia accomplished in 2014 and even more excited about the momentum we carry in to 2015.”
He went on to illustrate, “Improved sales and marketing performance has enabled us to add higher value partners, increase order size, and drive more repeat business.”
Then he summed up, “Furthermore, in the fourth quarter we completed our 20th integration with a major online marketing platform, establishing SoMedia as the only provider of integrated video production, players and analytics to tens of thousands of customers of these platforms.”
SoMedia Networks was in the news recently when
the Vancouver-based company announced launching a full service YouTube ad production platform for Google partners in the middle of April.
Shares were up 10.34% on the news to $0.32 per share.
Currently there are 47.6m outstanding shares with a market cap of $15.2 million.