SANTA MONICA, CA--(Marketwired - Dec 17, 2015) - U-Vend, Inc., 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, announced its financial results for the third quarter ended September 30, 2015.
"With the filing of our 2015 third quarter financial results, we have now posted our sixth consecutive quarter of revenue growth," stated Raymond Meyers, CEO of U-Vend, Inc. "We are experiencing positive results as we continue the rollout of our Mini Melts ice cream offerings in the Southern California and Las Vegas markets. In addition, we have expended a significant amount of resources in the 3rd quarter to develop new relationships and explore potential partnerships that we believe will provide great long-term value to our shareholders," added Meyers.
Select Financial Data for Three and Nine Month Period Ended September 30, 2015
- Third quarter revenues increased 318% to $275,266 for the quarter ended September 30, 2015 as compared to revenues of $86,530 for the quarter ended September 30, 2014.
- Revenues for the nine months ended September 30, 2015 increased 343% to $624,478 as compared to revenue of $182,166 for the nine months ended September 30, 2014.
- Gross profits for the third quarter ended September 30, 2015 increased 245% to $87,567 as compared to gross profit of $35,656 for the three months ended September 30, 2014.
- Gross profit for the nine months ended September 30, 2015 increased 287% to $221,510 as compared to a gross profit of $77,311 for the nine months ended September 30, 2014.
- Net loss for the quarter ended September 30, 2015 increased 216% to $619,039 as compared to a net loss of $286,121 for the quarter ended September 30, 2014.
- Net loss for the nine months ended September 30, 2015 decreased 1.4% to $1,431,764 as compared to a net loss of $1,451,611 for the nine months ended September 30, 2014.
- Basic and diluted net loss per share of ($0.04) per common share for the quarter ended September 30, 2015 compares to the ($0.03) net loss per common share for the quarter ended September 30, 2014.
- Basic and diluted net loss per share of ($0.11) per common share for the nine months ended September 30, 2015 compares to the ($0.18) net loss per common share for the nine months ended September 30, 2014.
A full analysis of results for the quarter ended September 30, 2015 is available in the Company's Form 10-Q, which is available on the Company's website at www.u-vend.com or through the Securities and Exchange Commission's Edgar database at www.sec.gov. Full report.
