Diversinet Reports First Quarter 2011 Financial Results

About this update from Diversified Royalty Corp.

[{"type":"text","content":"\n\n\n Apr. 29, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, April 29 /CNW/ - Diversinet Corp. (TSXV: DIV), (OTCBB: DVNTF),\n a leader in "connected and protected" mobile healthcare communications,\n reported its first quarter 2011 results for the period ended March 31,\n 2011. All dollar amounts are in U.S. dollars.\n\n\nEffective for the 2010 fiscal year, the company has adopted U.S.\n generally accepted accounting principles ("U.S. GAAP") for the\n presentation of its consolidated financial statements for Canadian and\n U.S. reporting requirements, and in this release has restated\n comparative historical periods accordingly.\n\n\nFinancial Highlights\nRevenues for the first quarter were $444,000, compared to $576,000 in\n the same period a year ago. Revenues in the first quarter of 2011\n included $382,000 from the company's license and reseller agreement\n with Mihealth Global Systems while revenues in the first quarter of\n 2010 included $346,000 from the company's license and VAR agreement\n with Intersections, Inc., (Nasdaq: INTX) a global provider of consumer\n and corporate identity risk management services.\n\n\nNet loss in the first quarter was $1.1 million or $(0.03) per share,\n compared to $1.0 million or $(0.02) per share in the same period a year\n ago. First quarter 2011 net loss included non-cash items of $189,000 in\n stock-based compensation, $14,000 in depreciation, and a foreign\n exchange gain of $25,000. This compares to ...

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