AudioEye, developer
of patented Internet content publication and distribution software, said it
expects to report fourth-quarter revenue of more than $690,000, a sequential
increase of approximately 82 percent compared to third-quarter revenue of
$381,540, and drastically higher than revenue of $3,226 reported in the fourth
quarter of last year.
For the 12 months
ended December 31, 2013, the company expects to report a revenue of more than
$1.5 million, an increase of 430 percent compared with 2012 revenue of
$282,063.
The company also
increased its gross profit margin to at least 74 percent of sales in the fourth
quarter from 66 percent of sales in the third quarter. For full-year 2013,
gross profit margin approximated 73 percent of sales.
AudioEye expects to
report audited financial results for the year ended December 31, 2013, no later
than March 31, 2014.
In announcing its
fourth-quarter financial expectations, AudioEye CEO Nathaniel Bradley
emphasized the company’s sales growth and what it means for future initiatives.
“We are proving out
use cases and efficacy in profitable and scalable implementations of our
industry-first software tools, and we consider the quintupling in 2013 revenue
a solid indication that we are succeeding in our business plan,” Bradley stated
in the news release. “During 2014, we are focused on both the replication of
this success by selling more within proven market verticals, such as behavioral
health, universities and pharmaceuticals, and expansion through our
intellectual property licensing initiatives into government, e-commerce, real
estate, entertainment, travel, leading Internet destinations and populated
mobile applications. …”
Bradley also noted
the U.S. Department of Justice’s stated intent to expand enforcement activities
regarding the CVAA, which would require that government, corporate and
educational website content be fully accessible by vision-impaired individuals,
without requiring these individuals to pay additional costs relative to
non-impaired website users. These changes would create a viable opportunity for
AudioEye to integrate its platform and achieve continued growth, said Bradley.
“We believe our
patented Audio Internet platform represents the most effective way for
government agencies, companies and institutions to comply with the CVAA.
Increased enforcement activities, along with efforts by corporate, government
and other content publishers to fully harness the potential of the Internet,
should continue to drive AudioEye’s revenue growth at a rapid pace. Based upon
information currently available to the company, we expect our operations to be
cash flow positive in 2014,” he concluded.
For more
information, visit www.audioeye.com
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