East Coast Diversified Announces 258% YTD Revenue Growth Company announces revenue grew by 204% for same Quarter 2011
ATLANTA, Aug. 6, 2012 /PRNewswire/ -- East Coast Diversified Corporation (OTC.QB:ECDC), announces today that its revenue for the first half of the year was at 258% for the same period for 2011. For the quarter ending June 30th revenue grew by 204%. The Company further announced that its year to date revenue has exceeded all of 2011 revenue.
For the second quarter ending June 30, 2012, the Company will report sharp revenue increases over same quarter 2011. Revenues for the first quarter of 2012, outpaced 2011 growth rate, the second quarter represents continuing growth for the company. Revenue continues to grow on a quarter to quarter and year to year comparison, driven by a maturing business portfolio.
"We expect revenue growth to continue due to the Joint Venture and licensing agreements EarthSearch recently executed in the US (SAP and McLeod Software); and with sales operation coming online for our new partners in Kenya and Russia. In addition, Rogue Paper business is maturing and within the next several quarters going into 2013 we will launch 2 new divisions, WetWinds and StudentConnect to further drive revenue growth. These are exciting times for ECDC," said Kayode Aladesuyi, CEO.
About East Coast Diversified Corporation
East Coast Diversified Corporation (OTC.BB: ECDC.OB) is a holding corporation with a diversified group of technology companies. Its business portfolio includes businesses offering technology for logistics and asset management, media entertainment technology, transportation safety and class attendance monitoring system and social media applications.
EarthSearch offers solutions using the world's first wireless communication between GPS and RFID. EarthSearch delivers solutions relevant to the operations of businesses and governments across the globe, providing efficiency, cost saving, continuous visibility of assets and cargo in transit, with real time visibility across the entire supply chain. Solutions delivered include warehouse operation, movement of secured cargo, oil tankers, pipeline and other fixed assets management solutions. EarthSearch solutions integrate sensor technology for fuel monitoring, temperature sensor, weight sensors, door sensor and a variety of other custom applications. From ore information www.earthsearch.us
StudentConnect also utilizes our proprietary wireless communication between GPS and RFID to provide transportation safety and class attendance monitoring solutions to schools, alerting parents and schools of safe departure and arrival of students riding on school buses and providing an automated class attendance monitoring system that engages parents with information about student behavior at school, including providing real time notification regarding truancy and skip class behavior. StudentConnect uses wireless technology integrated with GPS/RFID to gather and combine parental behavior, student behavior at school and academic data to create predictive analytics for school administrators that help with improving education. For more information www.studentconnect.us
Rogue Paper's award-winning social media technology. TV Tune-In, developed by Rogue Paper, is a real-time, companion viewing and mobile app development platform for media companies to help drive viewership, conversation and interactions for television shows and content. TV Tune-In's CMS allows media companies to develop branded iPhone and iPad apps for television shows and channels. Powering such category leading applications as MTV's WatchWith and VH1's Co-Star iPhone and iPad applications, users can actively comment along with their favorite show (live or time-shifted). For more information www.roguepaper.com
WetWinds, a new social media division scheduled to launch in summer 2012 will deliver interactive social media experience to audiences and users across the globe. Register to be part of the first one million global beta users at: www.wetwinds.us
For more information on East Coast Diversified Corporation and its group of companies please visit the company's website at www.eastcoastdiversified.com.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.
East Coast Diversified Corporation
SOURCE East Coast Diversified Corporation