myPhotopipe.com reports record third-quarter revenues
myPhotopipe.com, Atlanta, Ga., announced net revenues for the three months ended September 30, 2009 rose 3.2 percent to a record $413,261, compared with $400,378 in the third quarter of 2008. For the nine months ended Sept. 30, 2009, revenues decreased to $1,083,118, versus $1,190,321 in the corresponding period of the previous year. The EBITDA loss (earnings before interest, taxes, depreciation and amortization – a non-GAAP measure) for the nine months decreased to $108,174, compared with an EBITDA loss of $163,056 in the first nine months of 2008.
“Gross revenues improved in the most recent quarter, as new product offerings and technologies provided customers with greater reasons to frequent the myPhotopipe.com website,” says Bill LeRoy, CFO. “September revenues, benefiting from the launch of our new Xpress uploader, rose 27 percent to a new record, compared with a 1.4 percent increase in year-to-date revenues from ongoing operations. By discontinuing operations in Charlotte near the end of 2008, we negatively impacted this year’s third quarter and nine-month revenue comparisons, but we offset that to a great degree by reductions in expenses and growth in our continuing operations.”
