Wireless Ronin Technologies CEO Discusses Q3 2010 Results - Earnings Call Transcript
Risks and uncertainties that could cause our actual results to differ from those expressed or implied by forward-looking statements, include those set forth in the risk factor section of the annual report on Form 10-K we filed on March 26, 2010.
In addition, our comments may contain certain non-GAAP financial measures including non-GAAP operating loss per share. For additional information, including reconciliation from GAAP results to non-GAAP measures, how the non-GAAP measures provide useful information and why we use non-GAAP measures, please see the reconciliation section of our press release, which appears on our website at wirelessronin.com.
Now I would like to turn the call over to Jim.
Jim GrangerThanks Erin and good afternoon everyone and thanks for joining us for today's call. But we are obviously very pleased with the results of the third quarter, which again illustrates that our business model works. First we continue to receive additional orders from our key marquee customers; Chrysler, Thomson Reuters, YUM! and ARAMARK, resulting in an increase of revenues to 2.7 million, a 148% increase for the third quarter on a year-over-year basis. Secondly, gross margins hit an all time high up 50% in the third quarter. Thirdly, we are starting to see real movement and traction with large scale rollouts. First, Chrysler has begun the roll out of its retail branded tower salon concept featuring iShowroom to the dealers. Today Wireless Ronin has received $1.2 million worth of orders to install over 400 screens to 100 locations and we clearly anticipate additional orders in the near future. Secondly, with the roll-out of our rolling cash offering services for all 2,000 Snap Fitness locations which is the fastest growing franchisor of compact, state of the art 24/7 fitness centers. And fourth, during the quarter we recorded the lowest quarterly non-GAAP operating loss of $1 million in the company's history. Now both Darin and Scott will provide some additional commentary on these items during their remarks.
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