Destiny Media Technologies Inc. announced unaudited consolidated earnings results for the first quarter ended November 30, 2014. For the quarter, the company announced service revenue of $955,070 compared to $922,541 for the same period a year ago. Loss from operations was $69,355 compared to income from operations of $51,570 for the same period a year ago.

Loss before provision for income taxes was $56,309 compared to income before provision for income taxes of $68,393 for the same period a year ago. Net loss was $56,309 compared to net income of $44,393 for the same period a year ago. Adjusted LBITDA was $26,373 compared to adjusted EBITDA of $105,736 for the same period a year ago.

The reduction in income was due primarily to increased staffing for the technical development of Clipstream, increased director compensation and a decline in the value of the Euro, resulting in a reduction in European revenue.