OMT reported its quarterly financial results.
The Canadian firm said it increased overall sales of its core products, iMediaTouch and iMediaLogger, by 17 percent to the commercial radio market over the same period last year and said recurring revenue increased overall by 16%.
Company-wide, sales in the first quarter fell 1% compared to last year but were up $72,000 or 8% from the last quarter of 2006. Gross profit in the quarter was up 3% over Q1 year and over the fourth quarter.
“These variances, although positive, are not considered significant by management since gross margins will fluctuate somewhat when the mix of sales between hardware, software and services changes in any specific period,” it told investors. The company said operating expenses are up slightly, “a result of our continued efforts to invest in our marketing and sales initiatives.”
Looking ahead, OMT said the sale of its Retail Preview business, reported above, will generate a gain and let it focus on core broadcast and retail growth products.
OMT has two business units. Intertain Media sells background music and messaging services and digital signage systems to retailers and other businesses. The OMT Technologies division offers radio automation systems to radio stations.