SEDONA Corporation Releases Financial Results
KING OF PRUSSIA, Pa., Nov. 17, 2011 /PRNewswire/ -- SEDONA® Corporation (OTCBB: SDNA), a leading edge software development company focused on providing Customer and Member Relationship Management (CRM/MRM) and Profit Analytics solutions to banks and credit unions, announced its operating results for the Fiscal Year that ended December 31, 2010.
Financial Highlights for the year ending December 31, 2010:
Description |
2010 |
2009 |
Variance |
Percentage |
|
Total Revenues |
$ 1,344,000 |
$ 1,250,000 |
$ 94,000 |
8% Increase in Revenues |
|
Total Cost of Revenues |
$ 271,000 |
$ 374,000 |
($ 103,000) |
28% Decrease in Cost of Revenues |
|
Gross Profit |
$ 1,073,000 |
$ 876,000 |
$ 197,000 |
22% Increase in Profit |
|
Total Operating Expenses |
$ 1,154,000 |
$ 2,416,000 |
($ 1,262,000) |
52% Decrease in Operating Expenses |
|
Loss from Operations |
($ 81,000) |
($ 1,540,000) |
($ 1,459,000) |
95% Reduction in Loss from Operations |
|
David R. Vey, Chairman and CEO of SEDONA® Corporation stated, "Although delayed, the release of FY-2010 financial results should confirm to our shareholders that we have already taken crucial steps in the execution of our plan for the future by delivering significant improvements in operating results and most importantly, increasing shareholder value."
SEDONA® Corporation's (OTCPK: SDNA) Complete 2010 Annual Financial Report and a Letter to our Shareholders was provided to the OTCMarkets.com website on Monday, November 14, 2011. Access links to this information is listed below for your convenience.
Link to the SEDONA Letter to Shareholders:
http://www.otcmarkets.com/financialReportViewer?symbol=SDNA&id=65150
Link to SEDONA's Annual Report for the year ended Dec 31, 2010:
http://www.otcmarkets.com/financialReportViewer?symbol=SDNA&id=65146
Link for Quote on SDNA:
http://www.otcmarkets.com/stock/SDNA/quote
For additional information, please contact SEDONA Corporation, 610-337-8400 or visit SEDONA ® Corporation's website: www.sedonacorp.com
Safe Harbor Statement: This press release contains forward-looking statements that involve risks and uncertainties. The statements of this Summary Overview are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results, events and performances could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results, expressed or implied, to differ materially from expected results. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making an investment decision.
SEDONA Corporation, 1003 W. 9th Avenue, Second Floor, King of Prussia, PA 19406
Phone: 610.337.8400 Fax: 610.337.8490 Web: www.sedonacorp.com
SOURCE SEDONA Corporation
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