POMPANO BEACH, Fla.,
Feb. 15, 2012 /PRNewswire/ --
Onstream Media Corporation (NASDAQ: ONSM), a leading online service
provider of live and on-demand corporate audio and web
communications, virtual event technology and social media
marketing, today announced that its management will conduct a
conference call at 4:30 p.m. ET on
Wednesday, February 22, 2012, to
discuss its first quarter fiscal 2012 financial results for the
three months ended December 31, 2011.
The Company anticipates releasing financial results and filing its
Form 10-Q after the close of trading on the previous day,
Tuesday, February 21, 2012. During
this conference call, Mr. Randy
Selman, President and Chief Executive Officer of Onstream
Media Corporation and Mr. Robert
Tomlinson, the Company's CFO, will discuss the Company's
financial results as well as the outlook for the remainder of
fiscal 2012. Management discussion will be followed by an open
Q&A session.
Mr. Selman stated, "Our consolidated revenues for the first
quarter of fiscal 2012 were approximately $4.5 million, approximately 6.5% in excess of our
revenues for the first quarter of fiscal 2011, and representing the
sixth consecutive quarter of our revenues exceeding revenues for
the corresponding quarter of the previous fiscal year. This also
represented a record, as it exceeded revenues achieved in any of
our previous first fiscal quarters. Cash provided by operating
activities (before changes in current assets and liabilities) for
the first quarter of fiscal 2012 was in excess of $100,000, which is only the second time in our
company's history that we have achieved a positive operating cash
flow result for our first fiscal quarter. This is of course coming
after we reported our first full fiscal year – 2011 - having
positive cash provided by operating activities (before changes in
current assets and liabilities). We look forward to reporting our
full fiscal first quarter results on February 21."
Interested parties may listen to the presentation live online at
http://www.visualwebcaster.com/event.asp?id=85337 or by calling
1-888-645-4404 or 201-604-0169. It is recommended to dial in
approximately 10 to 15 minutes prior to the scheduled start time.
An audio rebroadcast of the conference call will be archived for
one year online at
http://www.visualwebcaster.com/event.asp?id=85337.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this document and elsewhere by Onstream
Media Corporation are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such information includes, without limitation, the business
outlook, assessment of market conditions, anticipated financial and
operating results, strategies, future plans, contingencies and
contemplated transactions of the company. Such forward-looking
statements are not guarantees of future performance and are subject
to known and unknown risks, uncertainties and other factors which
may cause or contribute to actual results of company operations, or
the performance or achievements of the company or industry results,
to differ materially from those expressed, or implied by the
forward-looking statements. In addition to any such risks,
uncertainties and other factors discussed elsewhere herein, risks,
uncertainties and other factors that could cause or contribute to
actual results differing materially from those expressed or implied
for the forward- looking statements include, but are not limited to
fluctuations in demand; changes to economic growth in the U.S.
economy; government policies and regulations, including, but not
limited to those affecting the Internet. Onstream Media undertakes
no obligation to publicly update any forward-looking statements,
whether as a result of new information, future events or otherwise.
Actual results, performance or achievements could differ materially
from those anticipated in such forward-looking statements as a
result of certain factors, including those set forth in Onstream
Media's filings with the Securities and Exchange
Commission.
About Onstream Media:
Onstream Media Corporation (NASDAQ:ONSM), is a leading online
service provider of live and on-demand corporate audio and web
communications, virtual event technology and social media
marketing. Onstream Media's innovative Digital Media Services
Platform (DMSP) provides customers with cost effective tools for
encoding, managing, indexing, and publishing content via the
Internet. The company's MarketPlace365® solution enables
publishers, associations, tradeshow promoters and entrepreneurs to
rapidly and cost effectively self deploy their own online virtual
marketplaces. In addition, Onstream Media provides live and
on-demand webcasting, webinars, web and audio conferencing
services. To date, almost half of the Fortune 1000 companies and
78% of the Fortune 100 CEOs and CFOs have used Onstream Media's
services. Select Onstream Media customers include: AAA, Dell,
Disney, Georgetown University, National
Press Club, PR Newswire, Shareholder.com (NASDAQ), Sony Pictures
and the U.S. Government. Onstream Media's strategic relationships
include Akamai, BT Conferencing, Qwest and Trade Show News Network
(TSNN). For more information, visit Onstream Media at
http://www.onstreammedia.com or call 954-917-6655.
Media
Relations:
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Investor Relations:
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Chris
Faust
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Jeff
Ramson
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FastLane
Communications
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The
ProActive Network
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973-582-3498
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212-792-4321
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cfaust@fast-lane.net
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jramson@proactivecrg.com
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SOURCE Onstream Media Corporation