Business
Diversinet Reports First Quarter 2009 Financial Results
Third Consecutive Quarter of Profitability Quarterly Revenues up 488% TORONTO, May 1 /CNW/ - Dive...
About this update from Diversified Royalty Corp.
[{"type":"text","content":"\n\n\n\n Third Consecutive Quarter of Profitability\n Quarterly Revenues up 488%\n\n\nTORONTO, May 1 /CNW/ - Diversinet Corp. (TSX Venture: DIV, OTCBB: DVNTF),\na leading provider of secure application platforms for the mobile world, today\nannounced financial results for first quarter of 2009. All dollar amounts are\nin U.S. dollars.\n\n\nRevenues for the quarter were $2,010,000, up 488% from $342,000 in the\nfirst quarter of 2008. The Q1 2009 revenues include $1,625,000 from the $40\nmillion five-year worldwide license and revenue share agreement with AllOne\nMobile Corporation ("AllOne") signed in Q3 2008.\n\n\nThe net income for the first quarter of 2009 was $182,000 or $0.00 per\nshare, compared to a net loss of $1,159,000, or $0.03 per share in the first\nquarter of 2008. Included in the first quarter net income are stock-based\ncompensation, depreciation and amortization of $266,000 ($227,000 in Q1 2008).\nAlso included in the first quarter net income is a foreign exchange loss of\n$323,000 ($21,000 gain in Q1 2008). Cash and cash equivalents at March 31,\n2009 were $10,719,000 and $12,075,000 at December 31, 2008.\n\n\nCompany, customer and product solution highlights include:\n\n- During the first quarter, AllOne, our exclusive global health care\n partner announced that in response to soldiers returning home with\n traumatic brain injuries and other significant injuries, the U.S.\n military is launching a pilot telehealth outreach program to better\n track their progress. Through AllOne MobileSM, a health information\n management application provided by AllOne Health and secured by\n Diversinet, secure, two-way mobile technology will link wounded\n warriors recuperating at home with their case managers and unit\n support staff.\n\n AllOne Mobile's system will give injured service members access to\n case managers and other military personnel who will monitor and stay\n in touch with Soldiers through personalized encrypted messages. Data\n received from Soldiers will help to better personalize and monitor\n daily care. Initially, AllOne Mobile's platform is anticipated to\n support the rehabilitation needs of up to 10,000 returning soldiers\n in a phased implementation over the next year.\n\n- We are extending our MobiSecure Wallet and Vault software\n capabilities to allow secure access and communicate static...