LAS VEGAS, March 3, 2016 /PRNewswire/ -- Remark Media (NASDAQ: MARK), a global digital media company, announced preliminary net revenue for the fourth quarter of 2015. These anticipated results reflect the first full quarter contribution from the company's Vegas.com acquisition, which closed on September 24, 2015.
Remark Media is pleased to report net revenue is expected to range from $11 million to $14 million for the fourth quarter of 2015, which represents significant growth compared to $0.2 million in the fourth quarter of 2014.
Kai-Shing Tao, Remark Media Chairman and CEO, stated, "Over the last 18 months, Remark Media has undergone a significant transformation, as demonstrated by our year-over-year growth. With a continued focus on the millennial demographic, we have transitioned from a content company to a technology company leveraging our data intelligence platform, KanKan. This proprietary technology platform enables us to enhance user engagement and brand awareness across all of our digital media properties more effectively and efficiently.
"KanKan aggregates data across all major social media platforms around the world. By amassing data on over 1.3 billion socially active users globally, we are able to enhance user engagement and brand awareness and, most importantly, understand consumer trends, preferences and behavior. For example, with KanKan, we are able to widen our net and target people who have come to Vegas dating back three years, those currently in Vegas, and those who plan to be in Vegas that have not booked travel through Vegas.com. We expect to execute and monetize additional opportunities similar to this for third party relationships in the near future."
Fourth Quarter and Full Year 2015 Conference Call Management expects to report its full fourth quarter and year-end 2015 results via a press release and conference call during the week of March 28, 2016. Additional details regarding the call will be provided in a separate release.
About Remark Media, Inc. Remark Media, Inc. (NASDAQ: MARK) is a global digital media company which owns and operates digital media properties, such as websites and applications for mobile devices, that provide unique, dynamic digital media experiences in multiple content verticals including travel, personal finance, social media, young adult lifestyle, and entertainment. The company is headquartered in Las Vegas, Nevada, with additional operations in Beijing and Chengdu, China. For more information, please visit the Company's website at www.remarkmedia.com.
Forward-Looking Statements This press release contains "forward-looking statements," as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be in the future tense, and often include words such as "anticipate", "expect", "project", "believe", "plan", "estimate", "intend", "will" and "may". These statements are based on current expectations, but are subject to certain risks and uncertainties, many of which are difficult to predict and are beyond the control of Remark Media. Relevant risks and uncertainties include those referenced in Remark Media's filings with the SEC, and include but are not limited to: its losses and need to raise capital; its ability to procure content and monetize audiences; recent and future changes in technology, services and standards; a disruption or failure of its or its vendors' network and information systems or other technology relied on by Remark Media; changes in consumer behavior, including changes in spending behavior and changes in when, where and how content is consumed; the popularity of its products and services; changes in its plans, initiatives and strategies, and consumer acceptance thereof; competitive pressures, including as a result of user fragmentation and changes in technology; changes in advertising market conditions or advertising expenditures due to, among other things, economic conditions, changes in consumer behavior, pressure from public interest groups, changes in laws and regulations and other societal or political developments; piracy and Remark Media's ability to exploit and protect its intellectual property rights in and to its content and other products; restrictions on intellectual property under agreements with third parties; challenges inherent in developing an online business; reliance on key personnel; risks of business in foreign countries, notably China and Brazil, including obtaining regulatory approvals and adjusting to changing political and economic policies; governmental laws and regulations, including unclear and changing laws and regulations related to the Internet sector in foreign countries, especially China; general industry conditions and 3362408-1 competition; and general economic conditions, such as advertising rate, interest rate and currency exchange rate fluctuations. These risks and uncertainties could cause the company's actual results to differ materially from those expressed in or implied by the forward-looking statements, and therefore should be carefully considered. Remark Media assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.
SOURCE Remark Media, Inc.