Business
Adaptive Ad Systems Again Increases Revenue for Q1 2020
Adaptive Ad Systems Again Increases Revenue for Q1 2020.
About this update from Adaptive Ad Systems, Inc.
[{"type":"text","content":"Revenue increases by 24% - Generates Profit for 22nd time in a RowVANCOUVER, WA / ACCESSWIRE / May 26, 2020 / Adaptive Ad Systems, Inc. (OTC PINK:AATV), a company that provides Dynamic Digital Ad Insertion (DDAI) via its streaming media hardware and proprietary processing software for the U.S. cable TV and Satellite markets, today reports another profitable quarter for the first quarter of 2020 for the 22nd time in a row.In connection with the Company's financial results for the first quarter, J. Michael Heil, CEO of Adaptive Ad Systems stated: "Although the first few months of this year have been difficult times for all Americans, our team at Adaptive has been able to stay the course, continue progress on the new projects we are currently working on and generate increased revenue producing another profitable quarter for the 22nd time in a row."Revenue during election years typically increases, based on the substantially increased demand for television advertisements by political campaigns. Based on the unprecedented breakdown of businesses nationwide during the first quarter of 2020 and the subsequent cancelation of most election ads and campaign activities, the first quarter did not produce the results we originally expected. Nevertheless, we have been able to increase revenue and produce a net profit for the quarter."Revenues increase by twenty-four percent (24%)For the first quarter 2020 revenues were $1,315,036 compared with $1,062,998 during the same period in 2018, an increase of twenty-four percent (24%). This improved performance was based on the continuing build out of our network and the addition of new subscribers.Net Profit increases by twenty-three percent (23%)Net Profit increased from $219,913 in Q1 2019 to $272,159 in Q1 2020, an increase of 23%.This increase was based on management's mission statement to do more with less people, accordingly keeping overhead low, while increasing revenue through the addition of new subscribers.Mr. Heil adds:" We continue to increase the number of installations of our proprietary hardware and software systems throughout the country. These additional installations, in combination with our unique revenue-sharing business model, allows us to consistently serve new networks and video subscribers. We provide our contracted clients with major ad campaigns t...