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QuoteMedia Reports Q3 2010 Results

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^{Published in Science and Technology on Friday, November 12th 2010 at 12:40 GMT by Market Wire}  

PHOENIX--([ BUSINESS WIRE ])--QuoteMedia, Inc. (OTCBB: QMCI), a leading provider of market data and financial applications, announced financial results for the three and nine months ended September 30, 2010. These results reflect a 1% increase in third quarter revenue, to $1,929,946 from $1,910,884 in the comparative period in 2009. Revenue for the nine months ended September 30, 2010 increased 3%, to $5,851,421 from $5,658,444 in the comparative period in 2009.

"Our operating results for this period have again been impacted by global economic conditions that are affecting the entire financial services sector"

"Our operating results for this period have again been impacted by global economic conditions that are affecting the entire financial services sector," said Keith Guelpa, President of QuoteMedia, Inc. "While we expect that our revenue growth will continue to be moderated over the near term, we are encouraged by the progress we have made under these circumstances a" particularly in light of the fact that some major client deployments have been delayed several months, rather than launching when expected. We are beginning to see some of the larger projects that have been in development over the past several quarters reach the stage where they will begin producing revenue streams and new projects are underway. Accordingly, although we foresee relatively flat revenue growth over the shorter term, we anticipate stronger results in the coming year."

About QuoteMedia

QuoteMedia is a leading software developer and syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides data and services for companies such as the NASDAQ, the OTCBB, TMX Group, Dow Jones & Company, Sungard, Wells Fargo, Penson Worldwide, Broadridge Financial Systems, Ridge Clearing, Regal Securities, Scotia Capital, Southwest Securities, Forbes, Zecco Trading, Zacks Investment Research, General Electric, Dow Chemical, Business Wire, Kiplinger, FolioFN, Motorola, Captivate Network, ChoiceTrade, Qtrade Financial, CNW Group, TradeFreedom, Gmarkets, Questrade, Schaeffer's Investment Research, WebFinance and others. For more information, please visit: [ www.quotemedia.com ].

Statements about QuoteMedia's future expectations, including future revenue, earnings, and transactions, as well as all other statements in the press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. QuoteMedia intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are identified from time to time in the company's SEC reports and filings, and are subject to change at any time. QuoteMedia's actual results and other corporate developments could differ materially from that which has been anticipated in such statements.