VANCOUVER, British Columbia, June 2 /PRNewswire-FirstCall/ -- Destiny Media Technologies (OTC Bulletin Board: DSNY) is pleased to announce that it has been ranked 173 in the "22nd annual PROFIT 100 ranking of Canada's Fastest-Growing Companies" by PROFIT Magazine.
Ranking Canada's Fastest-Growing Companies by five-year revenue growth, the PROFIT 100 profiles the country's most successful growth companies. Published in the June issue of PROFIT and online at PROFIT100.com, the PROFIT 100 is Canada's largest annual celebration of entrepreneurial achievement.
Canada's Fastest-Growing Companies are the poster children for entrepreneurship, innovation and pure tenacity," says Ian Portsmouth, editor of PROFIT. "They demonstrate what it takes to succeed in today's highly competitive, technology-driven global economy."
Destiny Media Technologies CEO Steve Vestergaard says the team is thrilled with the award and recognition. "It took a long time to build out adoption for our private industry network, but in the last couple years, the rapidly increasing transaction rate has finally translated into financial growth.
"This year's rankings are based on our August 2009 results, but strong growth has continued, with six month revenues and net income since growing to $1.9 million and $450,000 compared to $2.5 million and $160,000 for all of last year. Our revenues have increased from one consecutive three month period to the next in eleven of the last thirteen quarters and our most recent results showed an 86% revenue increase and 500% international (outside North America) revenue increase over prior year."
Destiny's flagship Play MPE® product is a security solution built around patented locking and patent pending watermarking technologies that securely deliver new music to radio, press and other trusted recipients of pre-release media. It's in use by all four major record label groups and is being actively rolled out to 77 countries around the world.
About PROFIT Magazine:
PROFIT: Your Guide to Business Success is Canada's preeminent publication dedicated to the management issues and opportunities facing small and mid-sized businesses. For 28 years, Canadian entrepreneurs and senior managers across a vast array of economic sectors have remained loyal to PROFIT because it's a timely and reliable source of actionable information that helps them achieve business success and get the recognition they deserve for generating positive economic and social change. Visit PROFIT online at www.profitmagazine.ca.
About Destiny Media Technologies
Destiny Media (http://www.dsny.com) is the developer of the Play MPE® system (http://www.plaympe.com) which the recording industry uses to securely distribute new pre-release music through the Internet to trusted recipients such as radio, media and VIP's. Real time usage statistics are available at http://www.plaympe.com/v4/company/plaympestats.php
CEO Destiny Media Technologies, Inc.
604 609 7736 x222
Safe Harbor Statement:
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE Destiny Media Technologies