VRX Worldwide Inc.
TSX VENTURE : VRW

VRX Worldwide Inc.

August 30, 2013 17:30 ET

VRX Worldwide Reports 2013 Second Quarter Results

- Service Revenue Increases 30% Over Prior Year's Second Quarter, Increasing Gross Profit and EBITDA

- MediaValet's Customer Base Continues to Grow, Adding Additional Customers in Healthcare, Agriculture, Professional Services and Tourism

- $250,000 Debenture Restructured and Renewed for Three Years

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 30, 2013) - VRX Worldwide Inc. (TSX VENTURE:VRW), a global provider of photography, content hosting, distribution, licensing, and cloud-based digital asset management services, is pleased to report it's second quarter results for 2013.

Summary of Quarterly Results (Unaudited)
2013 Q2 2013 Q1 2012 Q4 2012 Q3 2012 Q2
Total revenue $ 915,841 $ 732,529 $ 875,553 $ 923,788 $ 780,772
Gross profit $ 457,887 $ 391,695 $ 497,568 $ 485,915 $ 428,796
EBITDA $ 59,495 $ 17,201 $ 131,593 $ 156,258 $ 53,586
Net income $ (58,978 ) $ (78,120 ) $ 53,335 $ 56,188 $ (8,658 )
Earnings per share $ (0.002 ) $ (0.002 ) $ 0.002 $ 0.002 $ (0.000 )
Total assets $ 1,725,068 $ 1,748,497 $ 1,618,141 $ 1,476,084 $ 1,266,843

Total revenue for the second quarter of 2013 increased 17% ($135,069) over the second quarter of 2012. The year over year increase in quarterly revenue is due to a significant improvement in Service Revenue of 30% ($154,338), which was partially offset by a slight decrease in Licensing Revenue of 7% ($19,269).

"During the second quarter of 2013, we successfully restructured and renewed a $250,000 convertible debenture for another three year term. The restructuring keeps our operations moving forward as the demand for our services starts to return to normal," commented David MacLaren, President and CEO of VRX Worldwide. "On the digital asset management front, MediaValet grew its market share in Healthcare and Tourism, and entered new markets including Agriculture, Public Utilities and Professional Services."

The full financial statements and related MD&A are now available on the Company's website (www.vrxworldwide.com) and on SEDAR (www.sedar.com).

ABOUT VRX Worldwide Inc.

Through a decade of growth, innovation and an unwavering commitment to quality, consistency and customer service, VRX Worldwide is one of the world's leading providers of content production, management, distribution and licensing services. To find out more about VRX Worldwide, its products and services, visit www.vrxworldwide.com, www.vrxstudios.com and www.mediavalet.co. VRX Studios Inc., is a wholly owned subsidiary of VRX Worldwide Inc. (TSX VENTURE:VRW).

VRX Worldwide Inc.,

per 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."

Contact Information