Adaptive Ad Systems Update on Company Performance Reports 2017 Record Growth and Profits
VANCOUVER, Wash., Aug. 21, 2018 /PRNewswire/ -- Adaptive Ad Systems, Inc. (OTC Pink: AATV.PK), a company that provides advertisement insertion services via its streaming media hardware and proprietary processing software for the cable TV and Satellite market, today publishes an update on the Company's performance for the last four years, reporting on the its business expansion and significant growth in revenue and profits.
J. Michael Heil, Chairman & CEO of Adaptive states: "As we build upon the success of our innovative technology and services, and move into the next crucial phase of the Company's development, we believe that it is important to inform our shareholders on the significant progress we have made over the last four years. At the same time, we are renewing our commitment to updating our shareholders and the investing public on a consistent basis moving forward, while accelerating the implementation of our business plan for the next four years."
The Company currently derives almost all revenue from Cable TV advertising sales it distributes over its installed network of Adaptive-owned ad insertion and streaming media hardware and proprietary processing software for the Cable TV and Satellite markets. These revenues are significantly impacted by political advertising as one of the driving revenue sources for TV ad revenue. Election years, both midterm and presidential campaign years, typically generate significantly higher revenues, based on greater political ad spending than during non-election years.
Accordingly, to allow a more objective comparison of the Company's financial performance, the Company is providing a financial comparison between "election years" and "non-election years" in this release.
In its annual report for the non-election year 2017, the Company reported an increase in revenue of approximately 58% from its comparable non-election-year 2015, with revenue growing frm $2,591,812 in 2015 to $4,095,000 in 2017.
As a percentage of revenue, total operating expenses decreased by about 10% in 2017.This resulted in an approximate 292% increase in net income to $549,693 before taxes to 2017.
Accordingly, the Company's cash position strengthened substantially, increasing from $517,207 in 2015, to approximately $1,298,673 in 2017, with total assets increasing over $3.7 million from $2,273,781 to $5,987,787.
Mr. Heil further states "Based on the opportunities created by our dedicated engineering, sales and marketing teams, we are continuing to expand deployment of our ad insertion equipment on long-term exclusive contracts and are expecting another substantial increase in revenue for 2018. We will continue to update our shareholders on a regular basis moving forward and will provide comments on our 2018 second quarter numbers soon."
About Adaptive Ad Systems Inc.
Adaptive Ad Systems Inc. is a digital media and video communications streaming Company that together with its subsidiary manufactures develops and deploys ad insertion and streaming media hardware and proprietary processing software for the cable TV, Satellite and IPTV markets. Adaptive is focused on a "Niche" sector of 2nd and 3rd tier cable companies with Adaptive's technology overcoming the barriers that typically prevent the insertion of National and Local advertising products into those 2nd and 3rd tier locations. ATV exclusively sells all available advertising in each market it has contracted, maintains technology ownership and has implemented a unique profit-sharing system with its clients. AATV also provides broadband and cable TV services in some niche markets. For additional information, please visit: adaptiveadsystems.com.
Any statements contained in this press release that do not describe historical facts constitute forward-looking statements. Forward-looking statements may include, without limitation, financial projections, statements regarding the plans and objectives of management for future operations, the development, regulatory approvals and commercialization of the Company's products, or any of the Company's proposed services, systems, services, partnerships or acquisitions. Such forward-looking statements are not meant to predict or guarantee actual results and performance and actual events or results may differ considerably. Factors that may cause actual results to differ materially from any projections may include, without limitation, the Company's inability to obtain additional financing, delays in the development of its products, the impact of significant new or changing government regulation on the industry, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's general failure to implement the Company's business plans or strategies. The Company assumes no obligation to update any forward-looking statements to reflect any change in events or circumstances that may arise after the date of this release.
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SOURCE Adaptive Ad Systems Inc.
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