VANCOUVER, WA / ACCESSWIRE / April 6, 2020 / Adaptive Ad Systems, Inc. (OTC PINK:AATV), a company that provides Dynamic Digital Ad Insertion (DDAI) via its streaming media hardware and proprietary processing software for the cable TV and Satellite TV markets, is reporting its financial performance for 2019.
Profitable for the fifth Year in a Row
The Company reported revenues of $4.4 Million generating a net Profit to $255,107. Results of operations were driven by the seasonal (non-election year) impact on revenue, as well as significant capital expenditures for the aggressive expansion of the Company’s operational base and new investments of nearly $1.9 Million into subsidiaries. While these capital expenditures decreased net profit, the Company has still improved its cash position from $1.8 Million to $2.06 Million and increased assets to $8.6 Million. Stockholder Equity increased to $7.4 Million with 48.5 Million shares issued and outstanding. These results reaffirm the continuing solid performance of the Company in achieving 25 profitable quarters and five profitable years in a row.
J. Michael Heil, Chairman & CEO of Adaptive states: “While in comparison to our record breaking (election) year of 2018, the year of 2019 showed reduced revenue and profit that typically follows record breaking revenue during an election year, we have used this year to invest in operational expansion to establish a solid foundation for another record breaking year in 2020. The Company took crucial steps during 2019 to increase its installed subscriber base, has made significant capital investments in its technology and continued to expand its nationwide network installations.”
During the last year, the Company made significant efforts to expand its network installation capacity and industry reach, continued to improve utilization of Adaptive’s digital technology, invested into subsidiaries and increased network installations in the underserved Tier 2 and Tier 3 markets. The Company continues to target the underserved and hard to reach younger demographics at colleges. All the foregoing improves access to major advertising inventory for our clients. The Company is continuously expanding its client contract base to serve these underserved markets more economically, react dynamically to fast changing market conditions and continue to improve its financial performance. More financial detail and guidance for 2020 will be available in the upcoming financial report for the first quarter of 2020.
Mr. Heil continues: “Based on the operational activities during the first quarter of 2020, we believe that the outlook for the 2020 election year remains very positive and we expect another record-breaking year. The expansion of our industry footprint, combined with our cable system profit sharing model, has made us nearly the sole digital ad insertion provider for major advertisers in these underserved cable TV ad markets during 2019 and allows us to serve these markets more dynamically and economically.”
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 (DDAI) for the cable TV, Satellite and IPTV markets. Adaptive is focused on a “Niche” sector of 2nd and 3rd tier cable companies, with its digital technology and unique profit-sharing model overcoming the barriers that typically prevent the insertion of National and Local advertising products into those 2nd and 3rd tier locations. Adaptive 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. Adaptive also provides broadband and cable TV services in some niche markets. For additional information, please visit: www.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.
SOURCE: Adaptive Ad Systems, Inc.