Company Reports 2008 Revenues Up 31%
Records Annual Growth for Six Straight Years

OTCBB: QMCI

QuoteMedia, Inc. (OTCBB: QMCI), a leading provider of market data and financial applications, announced financial results for the fiscal year ended December 31, 2008. These results reflect a 31% increase in year-over-year revenue, from $5,569,107 in 2007 to $7,276,980 in 2008. At December 31, 2008 the Company’s cash balance was $536,624, an increase of $179,308 from December 31, 2007. Net cash provided by operating activities was $856,703 for the year ended December 31, 2008; this represents a $1,293,556 increase in net cash generated from operations, when compared to the $436,853 that was used in operating activities during the comparative period.

QuoteMedia has now reported significant revenue growth for every quarterly reporting period for 6 consecutive years.

Currently Trading at Less than 1x Revenues

“2008 was another strong growth year for QuoteMedia”, says Robert J. Thompson, Chairman of the Board of QuoteMedia, Inc. “Even though global economic challenges and a significant weakening of financial markets have had a serious negative impact on the financial services industry, the company experienced not only outstanding revenue growth, but also major growth in data and market coverage, technological capability and product mix, business development, and personnel. In a year in which many of our competitors were suffering through cutbacks, layoffs, and weakening sales numbers, QuoteMedia has thrived.”

… we are currently in discussions with several new prospects looking to move their business away from more expensive competitors with less efficient technological platforms,” continues Thompson. “The belt tightening in the financial services sector has caused many companies to reevaluate how and where they are spending their money from a data provisioning perspective. They’re looking for alternate providers, with more flexible technology and fee structures, and because of the significant technological development and data expansion initiative we’ve undertaken over the past 2 years, QuoteMedia is in a position to exploit these opportunities with better technologies and aggressive pricing.”

The publishers of this Web site have held a long equity position in QuoteMedia (OTCBB: QMCI) for over 12-months.

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the OTC Money Group