Scottsdale, AZ September 19, 2013 -- Digital Caddies, Inc. (OTCPINK: CADY), The Player’s Network, a market leading tablet-based course navigation and content platform, is pleased to report its financials for the period ending July 31,2013.
Operating revenue for the 3rd quarter ended July 31, 2013 was $588,117, an increase of approximately 225% compared to $181,251 for the same quarter ended July 31, 2012. The increase in revenue can primarily be attributed to new revenue generated from partnership and sponsorship income. Gross income for the period was $382,220 with operating expenses before depreciation and amortization totaling $379,613 resulting in an operating profit of $2,607.
Revenue for nine months ended July 31, 2013 was $779,868, an increase of 101% as compared to $386,739 for the nine month period ended 2012. Gross income for the period was $573,971 with operating expenses of $904,174. The increase in operating expenses is due to increased spending in human resources, research and development and infrastructure required to launch the Players Network.
“This is a milestone quarter for the Company,” stated Mike Loustalot, President of Digital Caddies, “We moved from concept to reality as the installations of The Players Network on golf courses began. The overwhelming interest from Tier 1 golf course management companies and individual golf courses has been phenomenal.”
During the last month Digital Caddies has announced corporate agreements with National Golf Management, an operator of 22 golf courses nationwide, and OB Sports Golf Management, an operator of 50 golf courses nationwide.
“These agreements will dramatically increase the installation pipeline for The Players Network,” said Ted Bradley, VP of Advertising. Bradley also commented that “having this large nationwide pipeline of locations will grow demand from advertisers even before the network is installed because the four and a half hour average dwell time, the extremely desirable golfer demographic and device interaction makes this one of the most compelling advertising channels in the marketplace today.”
Earlier this year, Digital Caddies launched The Player’s Network – a tablet-based technology platform installed on golf carts that connects to the Web through Sprint’s high-speed wireless network and improves guests’ experiences by providing instant and accurate yardages, real-time interaction with the clubhouse, and other content golfers demand. The platform is also a powerful tool for golf course operators to build guest loyalty, increase course revenue and lower operating costs. The content on the platform is specifically designed to promote interaction between the golfer and the device throughout their round and thus provides an excellent opportunity for golf course operators and advertisers to interact directly with golfers in ways that have never been possible before.
About Digital Caddies
Digital Caddies was founded in 2003 and has established a solid reputation and customer base using a low-cost, easy-to-use, easy-to-implement GPS service. The company has transitioned to a new business model by providing golf courses a wirelessly connected tablet-based platform that is installed on golf carts. With the Digital Caddies platform, course operators have the opportunity to increase revenue by promoting merchandise, food and beverage specials, or whatever they’d like through the system. Digital Caddies also can help golf course operators lower operating costs by helping them track golf cart inventory, manage driver behavior, and assist in forecasting agronomy issues. For more information about Digital Caddies please visit:www.digitalcaddies.net.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Digital Caddies, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Digital Caddies, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Digital Caddies, Inc.'s filings with the Securities and Exchange Commission.
SOURCE Digital Caddies, Inc.