ANDI - Profits + 55%
ST PETERSBURG, FL -- (MARKET WIRE) -- 09/14/11 -- Andiamo Corporation (PINKSHEETS: ANDI) reports that it exceeded quarterly estimates for Q4 and announces a swing to EBITDA profitability for the quarter ending July 31, 2011.
Quarterly highlights of Q3 vs. Q4:
Gross Income increase from $424,878 (Q3) to $659,004 (Q4) an increase of 55% Gross Profit increase from $292,846 (Q3) to $462,587 (Q4) an increase of 57%
EBITDA profits for the quarter ended July 31, 2011 of $77, 379.
"We are very excited about the continued profitability of our popular Smartphone App Companies. Total downloads (free and paid) now exceed 6.8 million downloads. Action App Corporation currently has 9 Apps in the top 100 of their categories. We have several new apps under development that we look to deploy over the next 6 weeks," said Dustin Secor, CEO of ANDI.
"Previously, we announced that this should be our first EBITDA profitable quarter since becoming a publicly traded company and we are pleased to exceed the previously projected estimate of $62,500 for the quarter. We believe that becoming a profitable company will add to shareholder value and support our commitment to company growth. The current share structure remains unchanged from our 7/31/11 filing," added Mr. Secor.
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