DubLi Sales Up From $1.2 Million To $4.7 Million In Q1
DubLi, Inc. (OTC PINK: DUBL), a global E-commerce and marketing company that provides consumers around the world with a variety of innovative online shopping and travel opportunities, today reported financial results for the first quarter of fiscal 2015 ended December 31, 2014 and fiscal year ended September 30, 2014.
For the first quarter of fiscal 2015, ended December 31, 2014, revenues were $4.7 million reflecting an increase of $3.5 million over the first quarter ended December 31, 2013, due to higher subscription fees. Loss from continuing operations for the first quarter of fiscal 2015 was $1.4 million, as compared to a loss of $1.9 million in the first quarter of 2014. Income from discontinued operations was $0.2 million and $3.2 million for the quarter ended December 31, 2014 and 2013, respectively.
For the fiscal year ended September 30, 2014, revenues were $4.5 million reflecting a decline of $12.4 million due primarily to a reduction of revenues recognized for advertising programs that were sold in fiscal 2012, the revenues for which were earned in the prior fiscal year ended September 30, 2013. Net loss for fiscal year 2014 was $1.3 million resulting in loss per share of $0.00, as compared to a net income of $3.8 million, or earnings per share of $0.01 for fiscal year 2013.
Commenting on today's announcement, Michael Hansen, President and Chief Executive Officer, stated: The increase in revenues from fiscal 2014 into the first quarter of fiscal 2015 are a strong testament to our strategic business model of focusing on subscription fees revenue. More V.I.P. memberships were sold in the first quarter than all of fiscal 2014. Much of our growth occurred during the holiday selling season and from promotions.
As a result, our balance sheet as of December 31, 2014 includes $15 million in unearned subscription fees, substantially all of which will be recognized as subscription fees revenue during fiscal 2015. As we progress through the rest of fiscal 2015, we are encouraged by the trends and the consumer acceptance of our Cashback subscription model.
About DubLi, Inc.:
DubLi provides Cashback rewards and value-based travel, shopping and entertainment portals to online customers all over the world through DubLi.com. DubLi is a consumer-focused company, where the customers' needs always come first. At DubLi.com, we believe consumers shop at the same stores they shop normally, find the best deals and then earn Cashback with each purchase. DubLi features thousands of brand name stores, industry-leading travel companies from around the world along with insurance, financial services and telecommunications. DubLi, Inc. also offers entrepreneurs the opportunity to create their own distributor organizations by joining DubLi Network (Dublinetwork.com).
The global network of Business Associates who form DubLi Network, the sales and marketing engine for DubLi.com, generates traffic to DubLi.comby using direct selling to market a variety of memberships and packages. DubLi Partner (Dublipartner.com) offers a co-branded version of its DubLi.com platform that gives participating organizations a professional and reliable web presence while providing access to DubLi's global online Cashback travel, shopping and entertainment site.
DubLi is emerging as a leading provider of innovative travel, shopping, and entertainment solutions to consumers in more than 120 countries. DubLi, Inc. was founded in 2003 and is headquartered in Fort Lauderdale, Florida.
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