News

Wireless Ronin reports Q1 revenue drop

May 9, 2013

Wireless Ronin Technologies, a digital marketing technologies solution provider, has reported reduced revenue for the first quarter of 2013. The company said the decrease to $1.4 million, compared to $1.8 in the same quarter a year ago, was largely caused by reduced Chrysler development and content orders associated with iShowroom.

The company reported a first quarter net loss of $1.4 million, or 27 cents per share, diluted, an improvement from a net loss of $1.8 million or 40 cents per share a year earlier. It attributed the year-over-year improvement to decreased operating expenses and effective cost management.

Operational highlights of the quarter include the release of RoninCast 4.0 software, the company said, which is designed to increase functionality and improve the customer experience while reducing installation and operation costs.

The company said it was also selected by an international food service provider with more than 2,000 locations to deploy digital signage solutions to new franchise locations; aligned RoninCast 4.0 with Samsung's new open source digital signage platform; partnered with Custom Channels, a business music service provider, to offer a customized digital music solution that integrates with RoninCast software; installed an automated digital menu system at Boston University's new main dining facility; deployed interactive touch order systems and digital menu boards at Villanova University; and deployed RoninCast software for Kohler Co. to manage branded video wall content at its corporate-owned design centers.

Wireless Ronin said it also reached an exclusive licensing and services agreement with Delphi Display Systems, a manufacturer of outdoor LCD-based display systems for digital signage, to provide integrated technology solutions to the QSR and "pump topper" gas station markets. According to the release, Delphi will pay Wireless Ronin at least $2 million over five years, $750,000 of which was paid in April.

"During the first quarter, we focused on building recurring revenue and worked to enhance and broaden our digital marketing technology offerings," Scott Koller, president and CEO of Wireless Ronin, said in the release. "Altogether, these developments have set the stage for a productive second quarter. We now provide industry-leading technology and have world class relationships to capitalize on our growing pipeline and the tremendous industry opportunities."

Wireless Ronin trades on the NASDAQ Capital Market under the symbol RNIN.

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