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Share Name | Share Symbol | Market | Type |
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TSXV:MCC | TSX Venture | Common Stock |
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OTTAWA, March 30, 2016 /CNW/ - Magor Corporation (TSX-V: MCC), a technology leader in visual collaboration solutions, today announced the third quarter (Q3) financial results for the three and nine month periods ended January 31st, 2016.
"Timing of some orders received in Q3 came in too late for shipping the associated hardware, but did result in the Company growing the backlog going into Q4," said Mike Pascoe, President and CEO of Magor Corporation. "In addition, we are seeing a growing amount of recurring revenue business which results in an initial sale of lower margin hardware without the software revenue. Subsequent quarters for those sales then become predictable high margin software revenue and over time recurring software becomes a larger portion of the overall revenue mix. We are also pleased to see the significant growth in orders over the last few months with the RCMP as they move forward on their nationwide deployment plan."
Operational Highlights
During the Quarter
Subsequent to the Quarter
Financial Highlights
About Magor Corporation:
Magor develops and markets visual collaboration software for a world that increasingly rewards those who can bring together the right people and information at the right time. The Magor Aerus service delivery platform removes the limitations of traditional video conferencing and collaboration tools. The goal is to provide entirely new ways of interacting with video to drive increased productivity while reducing travel and other costs. To find out more about Magor Corporation (TSX-V: MCC), visit our website at http://www.magorcorp.com.
This news release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Statements made in this news release, other than those concerning historical financial information, may be forward-looking and therefore subject to various risks and uncertainties. The words "may", "will", "could", "should", "would", "suspect", "outlook", "believe", "plan", "anticipate", "estimate", "expect", "intend", "forecast", "objective", "hope", and "continue" (or the negative thereof), and words and expressions of similar import are intended to identify forward-looking statements. Certain material factors or assumptions are implied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Factors that could cause results to vary include those identified in the Corporation's filings with Canadian securities regulatory authorities, as well as the applicability of patents and proprietary technology; the outcome of pending corporate transactions; possible patent ligation; regulatory approval of products in development; changes in government regulation or regulatory approval processes; government and third party reimbursement; dependence on strategic partnerships; intensifying competition; rapid technological change in the industry; anticipated future losses; the ability to access capital; and the ability to attract and retain key personnel. All forward-looking information presented herein should be considered in conjunction with such filings. Except as required by Canadian securities laws, the Corporation does not undertake to update any forward-looking statements; such statements speak only as of the date made.
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 Magor Corporation
Copyright 2016 Canada NewsWire
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