Key Developments For Onstream Media Corporation
Onstream Media Corporation (ONSM.O) (Consolidated Issue listed on NASDAQ Capital Market)
Onstream Media Corp Issues FY 2009 Revenue Outlook Below Analysts' Estimates; Comments on FY 2010 Revenue Outlook
Onstream Media Corp announced that it expects to report fiscal 2009 revenues of approximately 4% less than the prior fiscal year. The Company remains optimistic with respect to an increased level of revenues during fiscal 2010. The Company reported revenue of $17.59 million in fiscal 2008. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $18.20 million for fiscal 2009; $25.00 million for fiscal 2010.
Onstream Media Corp Expands Webcasting Services For U.S. Government Agencies
Onstream Media Corp announced that two new government agency agreements totaling $250,000, with the U.S. Nuclear Regulatory Commission (USNRC) and the U.S. Department of Interior, Minerals Management Service (US DOI MMS). The agencies will be utilizing the Company's robust set of webcasting and associated services to increase the awareness and transparency of their respective efforts. The USNRC has additional options to extend the agreement for four additional one-year terms. Separately, the US Department of Interior will begin using Onstream's services for the first time beginning in April.
Onstream Media Corp Announces Termination Of Narrowstep, Inc. Acquisition And Continued Cost Cutting Measures
Onstream Media Corp announced that on March 18, 2009, based on a provision in the Definitive Agreement, Onstream terminated the Definitive Agreement and the acquisition of Narrowstep, Inc. The Company also announced that during February 2009, the Company implemented actions that it believes will reduce its personnel, and certain other operating costs, by approximately $65,000 per month, most of which will be realized immediately, with the full amount of savings being attained starting in May, 2009.
Onstream Media Corp Launches Streaming Publisher
Onstream Media Corp announced the launch of Streaming Publisher - an all in one, web based publishing solution that enables business users to easily upload, manage, transcode, syndicate and report on multiple rich media assets.
Onstream Media Corp's Infinite Conferencing Division Signs Master Agency Agreement with Leading Systems Integrator Presidio Networked Solutions
Onstream Media Corp announced it has signed a Master Agency Agreement between its Infinite Conferencing Division and Presidio Networked Solutions, Inc., a provider of business enablement and telecommunications solutions. The agreement is the first systems integrator relationship for Infinite.
