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ID Watchdog Announces First Quarter 2011 Revenue and Operating Results
May 19, 2011 (07:05 PM EDT)
DENVER, May 19, 2011 /PRNewswire/ -- ID Watchdog Inc. ("ID Watchdog" or the "Company") (TSX.V: IDW, OTC: IDWAF), provider of consumer-facing identity theft protection and resolution services, announces its unaudited first quarter revenue at $573 thousand and its operating loss at $331 thousand. Revenue decreased 52% over the same quarter in 2010 while operating loss was reduced 19% over the same period in 2010. The decrease, as compared to the first quarter in 2010, in both revenue and operating loss is a result of the Company's plan to reduce its marketing expenses and other expenses to conserve cash.
The Company continues to implement its new marketing strategy in which the Company aligns itself with anti-virus companies to offer its services as an integrated solution on the desktops of customers subscribing to anti-virus products as previously announced. Deployment is expected during the second quarter of 2011.
About ID Watchdog Inc.
(TSX.V: IDW, OTC: IDWAF) ID Watchdog was founded in 2005 and is headquartered in Denver, Colorado. The Company provides patent-pending, three-tiered comprehensive monitoring, detection and resolution for identity theft. ID Watchdog proactively detects identity theft problems at their source and provides immediate resolution services to ensure complete peace of mind for individuals. All of the Company's services have been developed with input from industry experts; national consumer advocacy groups; federal, state, and local law enforcement agencies; consumer protection agencies; and adhere to guidelines published by the Consumer Federation of America. For more information, please visit www.IDWatchdog.com.
This news release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 which address future events and conditions which are subject to various risks and uncertainties. The actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. Although the Company believes that its expectations reflected in these forward-looking statements are reasonable, no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed in the Company's filings with Canadian regulators at www.sedar.com. ID Watchdog assumes no obligation to update the forward-looking statements of management beliefs, opinions, projections, or other factors should they change.
Neither 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.
SOURCE ID Watchdog Inc.