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Onstream Media Corporation Reports Fiscal 2007 Fourth Quarter and Full-Year Financial Results.

Article Excerpt
Achieves Record Revenue for the Quarter and Full-Year Period on Higher Gross Margins

POMPANO BEACH, Fla., Dec. 26 /PRNewswire-FirstCall/ -- Onstream Media Corporation , an online service provider of live and on-demand internet video, announced today its financial results for the year and quarter ended September 30, 2007.

Financial Highlights: -- Record full-year revenue of approximately $12.1 million, up 43.9% from the prior fiscal year. -- Record fourth quarter revenue of approximately $4.1 million, an increase of 79.0% from the corresponding quarter of the prior fiscal year. -- Full-year gross profit margin increased to 64.3%, compared to 61.3% for the prior fiscal year. -- Fourth quarter gross profit margin increased to 65.1%, compared to 61.0% for the corresponding quarter of the prior fiscal year. -- Working capital of approximately $1.2 million, including a cash balance of approximately $560,000, at September 30, 2007. -- As a result of the conversion and/or repayment of all of the Company's debt except for two capital leases, its receivables and equipment (except the leased items) were unencumbered as of September 30, 2007. -- Stockholders' equity increased approximately 299% to approximately $33.5 million as of September 30, 2007, compared to approximately $8.4 million as of September 30, 2006 - the increase included the effect of shares issued for the Infinite acquisition and the related private equity offering. -- Fourth quarter...