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Signature Devices, Inc. and Innovo Technology Projects Strong Financial Results for Q3 2017
Signature Devices, Inc. and Innovo Technology Projects Strong Financial Results for Q3 2017.
About this update from Signature Devices Inc
[{"type":"text","content":"\n \n \n Signature Devices, Inc. and Innovo Technology Projects Strong Financial Results for Q3 2017\n \n \nSignature Devices, Inc. and Innovo Technology Projects Strong Financial Results for Q3 2017\n\nProjected Revenue growth of 70% over Q2 to $52,000 for Innovo and Graffiti\n\n \n IRVINE, CA--(Marketwired - Oct 31, 2017) - Signature Devices, Inc. (OTC PINK: SDVI) today announced projected revenue for Q3 2017 for all of its subsidiaries including Graffiti Entertainment and Innovo Technologies. \n The company is also projecting net income for the quarter even after the costs for CEDIA and production are included. The actual revenue numbers will be finalized and filed on OTCmarkets.com on or prior to November 15th.\n The primary driver for revenue growth is the brisk sales of Innovo Technologies' media server, Morpheus. All sales of Morpheus servers and players are currently primarily through distributors and their dealer networks in Australia, Europe, Asia, and the Middle East. However, the company also recorded sales from U.S. customers for the first time in Q3. \n Included in the projected revenue is the sales of the new Morpheus Micro, which went into production in Q3 and is already gaining traction in the market. The company is currently sold out of the Morpheus Micro until January of 2018. However, Innovo Technology is still receiving back-orders for the unit when the new production is scheduled to arrive.\n Since late 2016 and through the first part of 2017, the company focused a significant portion of its R&D investment on developing the Morpheus One, an all-in-one unit, and the Morpheus Micro, a very small form factor advanced 4K player. The Morpheus One combines the server and player into one unit that is half the physical size of the existing player. The objective is to expand the current offering to the pro consumer and dealer markets with a simple setup at a fraction of the cost of the Morpheus Pro system. A U.S. version was made available for purchase during the CEDIA trade show where the company showcased its product lineup. \"Presenting at the CEDIA show was great milestone for us because it allowed for U.S. dealers and distributors direct exposure to the company. The show resulted in opening distribution channels in several countries as well as with some U.S. dealers. ...