TMCnet News
Adaptive Semi-Annual Report Increases Revenue by 89% Year to YearVANCOUVER, Wash., Aug. 29, 2018 /PRNewswire/ -- Adaptive Ad Systems Inc. (OTC: AATV), a company providing advertisement insertion services via its streaming media hardware and proprietary processing software as a complete turnkey system for the cable TV and Satellite advertising market, today publishes an update of the Company's performance during the first half of 2018. The Company currently derives almost all revenue from Cable and Satellite TV advertising campaigns that it distributes over its network of Adaptive owned ad insertion and streaming media hardware and proprietary processing software. Adaptive's revenue is generated by three operating subsidiaries, Ad Systems Inc., Adaptive Media, Inc., and Adaptive Broadband, Inc., which are 100% owned by the Company and are reported under the consolidated Financial Statements of Adaptive Ad Systems Inc. The first half of 2018 has been a continuation of Adaptive's efforts to expand its sales and marketing team, streamline content distribution over its "cloud based" central hub and further improve its technology offerings to accelerate installation of its head-end systems at its Tier 2 and Tier 3 cable and satellite network providers. This effort has resulted in an increase of the Company's subscriber base to nearly 1 Million, a crucial threshold to continue its expansion into the leading position in the industry sector. J. Michael Heil, Chairman and CEO for Adaptive states: "We have previously discussed how our revenues are impacted by political advertising. Election years, both midterm and Presidential campaign years, typically generate higher revenues, based on greater ad spending in election years than during non-election years. Based on these patterns and the significant operational improvements that we have implemented during the last twelve (12) months, our revenue significantly increased during the first half of 2018 to $3,120,047 from $1,651,479 for he same period in 2017 and $1,905,951 in 2016. Revenues are expected to increase further during the remainder of 2018." Adaptive's proprietary technology is primarily "cloud-based", which allows the Company to service thousands of locations in underserved markets of the Cable and Satellite TV sector from its central hub. Accordingly, the company has considerably lower operating expenses than traditional operations, resulting in significant net profits. For the six-month period ending June 2018, the Company's Net Profit before taxes increased substantially to $1,261,018 from $217,760 for the same period in 2017 and $624,121 in 2016. Furthermore, the Company accumulated a strong cash reserve of $1,648,413 at the end of June 2018. About Adaptive Ad Systems Inc. Forward-Looking Statements
View original content:http://www.prnewswire.com/news-releases/adaptive-semi-annual-report-increases-revenue-by-89-year-to-year-300704001.html SOURCE Adaptive Ad Systems Inc. |