Infinite Conferencing is Second Onstream Media Division to Announce Record Monthly Revenue During October
October Conferencing Revenue Reaches $700,000, a 24% Increase Over Prior Year
POMPANO BEACH, FL – November 14, 2007 – Onstream Media Corporation ( OTC: ONSM), an online service provider of live and on-demand digital media, communications and applications, announced today that the Audio and Web Conferencing (a/k/a Infinite Conferencing, or Infinite) division of its Web Communications Services Group achieved record revenue of approximately $700,000 during October 2007. This represents an increase of approximately 24% as compared to the approximately $563,000 of revenue recorded by Infinite during the same month of the previous year (October 2006, which was prior to Onstream’s April 2007 acquisition of Infinite) and also represents Infinite’s highest single month of revenues since its 2001 inception.
Randy Selman, President and Chief Executive Officer of Onstream Media, stated, "We are very pleased with the significant revenue growth being achieved by our recently acquired Audio and Web Conferencing division, which reflects incremental growth directly resulting from our comprehensive marketing programs including both web based and cross marketing.”
This is the second Onstream division to report record revenues for October, following the Company’s November 12 announcement that the Webcasting division of its Web Communications Services Group also achieved record revenue of approximately $648,000 during October 2007, an increase of approximately 66% over the same month of the previous year.
The Company also noted that while the record monthly revenue recorded in October does indicate the continued growth of its Audio and Web Conferencing division, results from one month should not be used to extrapolate and/or project revenue totals for the quarter ending December 31, 2007 or any other monthly, quarterly or annual periods.
Hayden Communications, Inc.
Certain statements in this document and elsewhere by Onstream Media 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 Corporation's filings with the Securities and Exchange Commission.