DubLi 6 Months Revenue Up 250% From $2.4 Million To $8.6 Million
DubLi, Inc. (OTC PINK: DUBL), a global Cashback E-commerce and marketing company that provides consumers around the world with a variety of innovative online shopping and travel opportunities, today reported fiscal 2015 financial results for the three months and six months ended March 31, 2015.
For the three months ended March 31, 2015, revenues increased approximately 200% to $3.8 million over the $1.2 million reported in the same three month period of 2014.
The loss from continuing operations in the three months ended March 31, 2015 was approximately $2.0 million and was $1.2 million for the three months ended March 31, 2014.
At March 31, 2014, the Company had deferred fee revenues of approximately $13.5 million, substantially all of which will be recognized as revenues during fiscal years 2015 and 2016.
For the six months ended March 31, 2015, revenues were approximately $8.6 million compared to approximately $2.4 million reported in the same period of fiscal 2014, an increase of approximately 250%. The loss from continuing operations in the first six months of fiscal 2015 was approximately $3.4 million resulting in a loss per share of $0.01 compared to a loss of $3.1 million in the same period of the prior year or a loss per share of $0.01.
Commenting on today's announcement, Ivan Braiker, President and Chief Executive Officer, stated: The significant growth in revenue is attributed to greater worldwide acceptance of our Cashback model ('Malls'), an increase in the sale of V.I.P. membership packages and growth of the DubLi Partner Program.
Mall transactions, defined as the total transaction value passed through the Malls to our merchants totaled approximately $11.7 million in the second quarter and $22.1 million for the six month period.
We are experiencing growth in the worldwide adoption of our co-branded Partner Programs and we expect to see continued growth in this key area of our business.
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.com by 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 for their customers and through purchases providing Cashback to the participating organization and to their customers.
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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