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Wireless Ronin Technologies CEO Discusses Q3 2010 Results - Earnings Call Transcript

I continue to applaud the successful leadership efforts of Scott Koller, Darin McAreavey and their team along with all the WRT employees for their perseverance and dedication. If current trends hold, I believe their hard work will soon be rewarded in achieving a non-GAAP EBITDA breakeven quarter. Now let me see early signs of larger scale roll out commencing. We can share the true scalability of the business models to our shareholders.

I would now like to turn the call over to Darin for an update on our financials for the third quarter.

Darin McAreavey

Thanks Jim and good afternoon everyone. We reported revenue of 2.7 million for the third quarter of fiscal 2010 and 148% increase from 1.1 million in last year's third quarter. As of September 30, 2010 we had received purchase orders totaling approximately 1.7 million that had not been recognized as revenue.

The increase in our year-over-year revenue continue to be generated primarily from our marquee customers Chrysler, Thomson Reuters, YUM! and ARAMARK. Also as Jim mentioned during the third quarter 2010 Snap Fitness awarded Wireless Ronin the 2000 site software and services contract.

At September 2010, we received a 1.2 million order from Chrysler topped to the total of 100 dealers with Chrysler's retail branded tower salon featuring the iShowroom application. During the third quarter, we also recognized total revenue of approximately $700,000 from ARAMARK which is the largest amount of quarterly revenue recognizing this customer in Wireless Ronin's history.

During the third quarter we also successfully completed the installation of 37 new locations which more than doubled the total number of ARAMARK sites managed by our network operations center or NOC. Our recurring host in the service revenue during the third quarter of 2010 totaled 352,000 representing an increase of 189% from the same period in the prior year.

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