BOULDER, Colo.--(BUSINESS WIRE)--NeoMedia Technologies, Inc. (OTCQB:NEOM), the pioneer in global mobile barcode management solutions, today announced its financial results for the third quarter of 2013. NeoMedia’s revenue increased by approximately 136% from the same prior year quarter due to the continued adoption and success of its barcode scanning app, NeoReader®, its barcode management platform, QodeScan®, and its IP licensing program.
NeoMedia also reported record operating income of $440,000 as compared to a $579,000 operating loss in the same prior year quarter. NeoMedia reported an overall net loss of $26.2 million for the quarter as compared to net income of $19.5 million in the same prior year quarter, reflecting losses related to the application of financial instrument fair value accounting and certain other non-operational results.
NeoMedia has increased revenue to $3.9 million and generated an operating income to $622,000 during the nine months ended September 30, 2013 as compared to revenue of $1.9 million and an operating loss of $2.3 million in the same prior year period. NeoMedia generated an overall net loss during the nine months ended September 30, 2013 and 2012 of $47.5 million and $21.9 million, respectively, including other operating losses of $48.2 million and $19.6 million, respectively, primarily due to the application of financial instrument fair value accounting, which does not reflect the company’s operational performance.
“We continue to build momentum,” said Laura Marriott, Chief Executive Officer. “In our second quarter of 2013, we announced our first quarterly operating income in the Company’s history. We have built on that success in the third quarter of 2013 and are again reporting record operating income. We have focused heavily on meeting our customer needs while also realigning our cost structure and these efforts have proven successful. We continue to believe the Company is well positioned to have the best year in its history and for future growth.”
NeoMedia Technologies, Inc. is the pioneer in QR and mobile barcode technology and infrastructure solutions that enable the mobile barcode ecosystem worldwide. Its solutions have transformed approximately 40 million mobile devices with cameras across 193 countries into barcode scanners, enabling a range of practical and engaging applications. With its suite of products, services and extensive IP portfolio, NeoMedia is able to offer customers a comprehensive end-to-end mobile barcode solution. NeoMedia’s current customers include international brands, agencies and handset manufacturers. The company also has a growing portfolio of patent licensees including Microsoft and Kraft Foods Group, Inc. Learn more at www.neom.com or one of our online destinations: LinkedIn, Twitter, Facebook and Pinterest.
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