DigitalPost Interactive, Inc. (DGLP.OB), a company focused on building advanced consumer and B2B digital media sharing web platforms, is pleased to announce its second quarter 2008 financial results. The proprietary platforms can be customized and adapted to give clients the power to offer re-branded and subscription-based products at a reasonable cost. The flexible platforms are designed with efficient and easy deployment in mind, and allow users to store and share years of digital media in one convenient place.
DigitalPost, based in Irvine, California, recognized $144,200 in revenue for the second quarter 2008, a 438% increase when compared to $26,800 for the same period last year. The company also recognized a 401% increase in the revenue for the six-month period ending on June 30. For 2008, the results were reported at $156,500, while $39,000 was reported in 2007.
The company tightened its belt and pursued methods aimed at reducing operating costs. DigitalPost managed to book costs of $873,000 for the six months ending June 30, 2008 compared to the $915,300 of expenses booked for the same period last year. While the company found ways to become more efficient in operations, DigitalPost continued to pursue other methods for improving their cash position. During the second quarter, the company managed to secure over $1.1 million in private debt and equity financing.
A closing look at revenue found that the primary contributing factors to the increase were an increase in subscribers and in professional services. The second quarter 2008 professional services revenue is reported at $85,100 compared to $10,000 for the same period last year. The 751% increase is related to the company signing several contracts with a well-known theme park. The company’s subscriber base jumped almost 400% from 1,152 at June 30, 2007 to 4,541 at June 30, 2008. Interestingly, the tremendous growth for the year is primarily from the company’s direct-to-consumer advertising campaign.
During the second quarter 2008, DigitalPost completed partnership agreements with Westgate Resorts and Kiddie Kandids. Westgate Resorts, the third largest timeshare company in the world, plans to launch a family website service for its 500,000 members and its potential clients. The site should be operational at all 28 Westgate Resorts in the fourth quarter of 2008. DigitalPost and Kiddie Kandids, the largest national children’s portrait studio in the United States, worked together to create a digital media-sharing service named OurFamilyLife.com which has a planned launch date of October 1, 2008.
Let us hear your thoughts below: