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Share Name | Share Symbol | Market | Type |
---|---|---|---|
D Box Technologies Inc | TSX:DBO | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.09 | 0.085 | 0.09 | 182 | 14:52:22 |
LONGUEUIL, QUEBEC--(Marketwired - Jun 11, 2014) - D-BOX Technologies Inc. (TSX:DBO), a leader in innovative motion technology announced today revenues of $17.6 million for the 2014 fiscal year ended March 31, 2014 which represents a 23% increase in comparison to revenues of $14.3 million for the fiscal year ended March 31, 2013.
Financial Highlights
Fourth quarter and fiscal year ended March 31 (in thousands of $CA, except per share amounts) | |||||||||
Fourth Quarter | Fiscal Year | ||||||||
2014 | 2013 | 2014 | 2013 | ||||||
Revenues | 4,980 | 3,585 | 17,593 | 14,253 | |||||
Net loss | (43 | ) | (508 | ) | (1,589 | ) | (2,575 | ) | |
Basic and diluted net loss per share | (0.0003 | ) | (0.0031 | ) | (0.0097 | ) | (0.0157 | ) | |
Information from the consolidated Balance Sheet | |||||||||
March 31, 2014 | March 31, 2013 | ||||||||
Cash and cash equivalents | 6,717 | 5,708 | |||||||
* See the reconciliation table of adjusted EBITDA to the net loss on the next page of this press release.
Adjusted EBITDA (in thousands of $CA) | ||||||||
Quarters of 2014 | ||||||||
Q1 June 30, 2013 | Q2 September 30, 2013 | Q3 December 31, 2013 | Q4 March 31, 2014 | Fiscal Year March 31, 2014 | ||||
13 | 229 | 333 | 382 | 957 |
Operational Highlights
Commenting the year's realizations, Mr. Claude Mc Master, President and CEO of D-BOX declared: ?ÇfOur financial results are constantly improving while we keep growing in the entertainment and industrial markets, invest more in our R&D and strengthen our sales team. Considering these results and our advantageous positioning, I anticipate enthusiastically the upcoming fiscal year."
Additional information with respect to the fiscal year and fourth quarter ended March 31, 2014
The financial information relating to the fourth quarter and fiscal year ended March 31, 2014 should be read in conjunction with the Corporation's consolidated financial statements and Management's Discussion and Analysis dated June 10, 2014. These documents are available at www.sedar.com
Outlook
D-BOX focuses on two major development areas: the entertainment market and the industrial market which have their respective sub-markets. In light of the business development activities in each of these two markets, D-BOX anticipates that the upward trend in revenues should be maintained.
In combination with this expected growth of revenues, D-BOX also expects to gradually increase the level of its operating expenses including fees related to sales, marketing, research and development that will support the commercialization of new applications for its technology for new industrial sub-markets. Generally speaking, the Corporation aims, however, to maintain a positive adjusted EBITDA and intends to manage its operations based on attaining this objective.
Reconciliation of the adjusted EBITDA to the net loss
The adjusted EBITDA allows evaluating profitability and the Corporation's ability to generate cash flows from its operations. It designates the net loss before items not affecting cash, the foreign exchange gain or loss, financial expenses, interest income and income taxes.
The following table explains the reconciliation of the adjusted EBITDA to the net loss.
Fiscal Year ended March 31 | Fourth Quarter ended March 31 | |||||||
2014 | 2013 | 2014 | 2013 | |||||
Net loss | (1,589 | ) | (2,575 | ) | (43 | ) | (508 | ) |
Amortization of property, plant and equipment | 2,018 | 2,005 | 489 | 507 | ||||
Amortization of intangible assets | 290 | 259 | 75 | 68 | ||||
Amortization of other assets | 180 | 85 | 112 | 44 | ||||
Write-off of property, plant and equipment | 78 | - | (45 | ) | (5 | ) | ||
Write-off of other assets | - | 5 | - | 5 | ||||
Write-off of intangible assets | - | 4 | - | 4 | ||||
Share-based payment expense | 617 | 883 | 183 | 223 | ||||
Foreign exchange gain | (667 | ) | (74 | ) | (391 | ) | (156 | ) |
Financial results (financial expenses and interest income) | 21 | (14 | ) | 3 | (1 | ) | ||
Income taxes | 9 | 6 | (1 | ) | 2 | |||
Adjusted EBITDA* | 957 | 584 | 382 | 183 |
* See the "non-IFRS" measures section in the Management Discussion and Analysis dated June 10, 2014.
About D-BOX
D-BOX Technologies Inc. designs, manufactures and commercialize cutting-edge motion systems intended for the entertainment and industrial markets. This unique and patented technology uses motion effects specifically programmed for each visual content which are sent to a motion system integrated into either a platform, a seat or any other product. The resulting motion is perfectly synchronized with the on-screen action, thus creating an unparalleled realistic immersive experience.
D-BOX®, D-BOX Motion Code®, Motion Architects™ and Architectes du Mouvement™ are trademarks of D-BOX Technologies Inc. Other names are for informational purposes only and may be trademarks of their respective owners.
Disclaimer in regards to forward-looking statements
Certain statements included herein, including those that express management's expectations or estimates of our future performance, constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward-looking statements. The Corporation disclaims any intent or obligation to update publicly these forward looking statements, whether as a result of new information, future events or otherwise.
Luc AudetVice-President and Chief Financial OfficerD-BOX Technologies Inc.450-442-3003 ext 296laudet@d-box.comInvestor RelationsMarc Jasmin CPA, CMA, PresidentJasmin Financial Communications514-231-2360marc@comjasmin.com
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