VRX Worldwide Inc.
TSX VENTURE : VRW

VRX Worldwide Inc.

August 24, 2009 20:18 ET

VRX Reports 2009 Second Quarter Results

- Profit trend continues - 3rd consecutive profitable quarter - Revenue increases 52% over Q2'08 to $1.6 million - Gross margin increases 107% over Q2'08 to $923,360 - EBITDA increases 502% over Q2'08 to $359,218

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 24, 2009) - VRX Worldwide Inc. (TSX VENTURE:VRW) today reported results for the three months ended June 30, 2009.

Net profit for the second quarter was $354,961, or $0.01 per share, a sequential increase of 47% over the prior quarter and a 293% increase over the same quarter of the previous year.

Revenue for the second quarter of fiscal 2009 was $1.6 million, up 8.5% from $1.5 million in the previous quarter and up 52% from $1.0 million in the same quarter of the previous year. The revenue breakdown for the quarter was approximately 34% licensing and 66% services. Compared to the same quarter last year, licensing and service revenue increased 11% and 87%, respectively.

"Over the past nine months, through the hard work, determination and innovation of everyone at VRX, we've significantly improved our operating margins," commented David MacLaren, President and CEO of VRX. "During the same period, we've experienced strong revenue growth as the leading hospitality companies continue to believe in our products, our services and our expertise."

As of June 30, 2009, the Company had a net current monetary asset position of $150,979 as compared to a net current monetary liability position of $479,901 at December 31, 2008. This 131% ($630,880) improvement is due to the net profit generated from operations in the first six months of 2009 and the successful restructuring of an outstanding debenture for another three-year term. Current monetary items include cash, accounts receivable, accounts payable and the current portion of long-term debt.



Summary of Quarterly Results (Unaudited)

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2009 Q2 2009 Q1 2008 Q4 2008 Q3 2008 Q2
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Total revenue $ 1,587,515 $ 1,463,380 $ 1,472,152 $ 916,968 $ 1,045,714
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Gross profit $ 923,360 $ 889,361 $ 826,701 $ 363,919 $ 445,000
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Net income
(loss) $ 354,961 $ 241,107 $ 78,372 $(222,950) $ (183,731)
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Earnings (loss)
per share $ 0.010 $ 0.007 $ 0.002 $ (0.006) $ (0.005)
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Total assets $ 1,290,630 $ 1,010,675 $ 860,659 $ 542,441 $ 625,235
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The full financial statements and the related MD&A are now available on the Company's website (www.vrxworldwide.com) and on SEDAR (www.sedar.com).

About VRX

VRX Studios Inc., a wholly owned subsidiary of VRX Worldwide Inc. (TSX VENTURE:VRW) (www.vrxworldwide.com), is the world leader in producing, distributing and licensing high quality, rich media content that educates, inspires, and compels travel consumers. Many of today's leading travel brands rely on VRX's stunning hotel, cruise and destination content to attract and engage millions of consumers each month. In 2007, VRX was recognized by Profit magazine and Business in Vancouver as one of Canada's fastest growing companies. To find out more about VRX Studios, its products and services, visit www.vrxstudios.com.

VRX Worldwide Inc.

David MacLaren, CEO

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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