Stingray’s Q2 results “reached record levels on several fronts”

MONTREAL – Acquisitions and international growth helped to drive up second quarter revenues and profits at Stingray Digital Group, the company said Thursday.For the second quarter ended September 30, 2015, Stingray posted revenues of $21.3 million, up 24.0% from $17.2 million in revenues a year ago, primarily due to acquisitions, 50% growth in international markets, and a favorable exchange rate with the US dollar.Recurring revenues of $18.8 million remained relatively stable in percentage of total revenues at 88%, and increased 20.3% over the same period last year. International revenues now represent 38.5% of total revenues, up from 31.8% year-over-year.Music broadcasting...