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Wireless Ronin Reports 148 Percent Year-Over-Year Revenue Increase For 2010 Third Quarter

Key recent highlights include:
  • Revenue increased to $2.7 million, a 148 percent increase for the third quarter year-over-year
  • Gross margin hit all time high of 50 percent in third quarter of 2010
  • Chrysler's iShowroom retail branded t ower salon initiative continues to gain acceptance as the Company received an order from Chrysler totaling $1.2 million for 100 dealers
  • Awarded large-scale rollout of over 2,000 sites with Snap Fitness
  • Lowest quarterly non-GAAP operating loss of $1.0 million in company history

MINNEAPOLIS, Oct. 28, 2010 (GLOBE NEWSWIRE) -- Wireless Ronin Technologies, Inc. (Nasdaq:RNIN), a leader in digital signage solutions, today announced its financial results for the third quarter ending September 30, 2010.

Third Quarter Results

Wireless Ronin reported revenue of $2.7 million for the third quarter of fiscal 2010, a 148 percent increase from $1.1 million in the third quarter of fiscal 2009. As of September 30, 2010, the Company had received purchase orders totaling approximately $1.7 million for which it had not recognized revenue. The year-over-year increase in revenue came primarily from the Company's marquee customers, Chrysler, Thomson Reuters, YUM! and ARAMARK, in addition to new client orders:
  • Received order totaling $1.2 million from Chrysler as it officially launches its retail branded tower salon to dealers as part of its standards program;  
  • Completed 37 Burger Studio installations, which more than doubled the total number of ARAMARK sites;  
  • Selected by Snap Fitness, the fastest-growing franchisor of compact, state-of-the-art, 24/7 fitness centers, to deploy RoninCast ® software in all 2,000 locations across the United States; and    
  • Received a Thomson Reuters Infopoint ® order to be deployed at 50 sites for a financial services institution with over 3,000 locations.

For the third quarter of fiscal 2010, the Company's recurring hosting and support revenue totaled approximately $0.4 million, representing a year-over-year increase of approximately 189 percent.  

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