Company Cites Increased Revenue and Narrowed Loss for Q-3
Icon Media Holdings, Inc. (OTC: ICNM) a diversified global technology company that specializes in wireless infrastructure and technical services via Spectrum Velocity™ for the wireless industry, today announced business highlights for the third quarter and nine months ended September 30, 2016.
Highlights for the Quarter:
- Q3 2016 revenue was $63K compared to $69K for the same period in the prior year.
- Net loss for the period decreased by 17% to 86K as compared to 106K for Q3 2015.
- Revenue for the first nine months of 2016 increased 10% to $216K versus $196K for the same period in the prior year.
- Additionally, as a result of the financial audits that have been completed thus far, certain adjustments to 2013 and 2014 lowered expenses from our previously reported numbers. These are reflected in both improved retained earnings and shareholder equity for the periods completed.
See the entire Q3 report here.
“Our 3rd quarter was relatively flat in the top line, however we continue to show improvement in controlling our expenses in an effort to get to profitability,” said Rob Deakin, CEO of Icon. “During the quarter we established a viable footprint to grow our sales initiative which should have an impact on the future growth. We also have begun work on the 2015 financial audit and 2016 quarterly reviews required to file the Form 10 to become fully reporting again.”
About Icon Media Holdings, Inc. (ICNM)
Icon Media Holdings (OTC: ICNM) is a diversified global technology company that specializes in technical and infrastructure services for the wireless industry. The Company provides turnkey small cell network, distributed antenna systems (“DAS”) and Wi-Fi technical consulting, design and implementation services through its subsidiary Spectrum Velocity™. Our customer base includes the wireless industry as well as enterprise clients.
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Forward-Looking Statements & Disclaimers:
The information in this Press Release includes certain “forward-looking” statements within the meaning of the Safe Harbor provisions of Federal Securities Laws, as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this document, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.