U-Vend, Inc. Announces Year-End 2014 Financial Results

SANTA MONICA, CA--(Marketwired - Apr 17, 2015) - U-Vend, Inc. (OTCQB: UVND) (the "Company"), a consumer products and technology company that develops, distributes and markets next-generation self-serve electronic kiosks in a variety of retail environments across North America, today announced the filing of their financial results for the year ended December 31, 2014.

Select Financial Data for Fourth Quarter 2014 and Year Ended December 31, 2014

• Total revenues for 2014 were $268,800, reflecting our commencement of operations in the first quarter of 2014. There was no revenue in the comparable 2013 period.  
• Total revenue for the fourth quarter 2014 was $86,700, which was consistent with third quarter 2014 revenue. Revenue production in the 2014 fourth quarter was negatively affected by seasonality and a particular cold winter season in the Company's Chicago market. 
• Gross profit for the year-end December 31, 2014 was 34% as compared to 42% as of the nine months ended September 30, 2014. The decline in margin during the fourth quarter reflects the results of a full quarter impact of depreciation expense included in cost of goods sold and a seasonal shortfall in Chicago-based sales. The Company expects to see variations in the gross profit percentage as the business expands geographically and with product diversity in future periods. 
• The Company reported a net loss for the twelve months ended December 31, 2014 of $2,003,000, reflecting a loss of ($0.23) per share. Included in this net loss is approximately $1.1 million of non-cash expenses for acquisition activities, depreciation, amortization, and stock based compensation. 
• The Company will continue to invest in revenue producing assets and expansion of geographic and product development in 2015. View full report here.