“The company has taken a dramatic turn toward reaching our goal of becoming positive cash flow in 2009. We have significantly increased our recurring revenue by tripling our subscription base of customers in Q4 2008, which is a significant milestone for DigitalPost Interactive. We have also continued to grow our subscriber base during the first quarter of 2009, and feel we are continuing to make significant strides forward,” stated Michael Sawtell, Chief Executive Officer at DigitalPost Interactive.
DigitalPost Interactive noted that during the fourth quarter of 2008, net loss was $678,600 a decrease of $205,200 or 23 percent as compared to a net loss of $883,800 for the third quarter of 2008. This was achieved by reducing operational expenses by $323,900 or 40 percent from the third quarter of 2008. “With the implementation of a company-wide cost cutting initiative in the last quarter and the consistent growth of both our subscriber base and our professional services division, we are confident that DigitalPost Interactive will grow substantially in 2009,” said Mr. Sawtell.
Also during the fourth quarter, 90 percent of the $150,700 in revenue for the fourth quarter of 2008 was generated by recurring subscriptions. This amount was more than double the amount of subscription revenue recorded in the third quarter of 2008 which was $59,800.“This growth of subscription revenue in the fourth quarter was very encouraging, and we expect that to continue to grow in 2009,” added Mr. Sawtell.