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AKM

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Share Name Share Symbol Market Type
TSXV:AKM TSX Venture 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 -

ACT360 Solutions Announces Financial Results for Quarter Ended December 31, 2012

21/02/2013 7:04pm

Marketwired Canada


ACT360 Solutions Ltd. (the "Company" or "ACT360 Solutions") (TSX VENTURE:AKM), a
provider of Internet-based testing and international marketing programs for
higher education, announced its unaudited financial results for the quarter
ended December 31, 2012. Results are in Canadian dollars and were prepared in
accordance with International Financial Reporting Standards.




--------------------------------------------------------------------------
                                    Three Months Ended  Three Months Ended
                                     December 31, 2012   December 31, 2011
--------------------------------------------------------------------------
Sales                                         $226,110            $191,826
--------------------------------------------------------------------------
Net Income (Loss)                              $15,047              $2,907
--------------------------------------------------------------------------
Earnings (Loss) per share                        $0.00               $0.00
--------------------------------------------------------------------------
Total Assets                                  $294,039            $102,101
--------------------------------------------------------------------------



For the three months ended December 31, 2012, the Company's revenue increased by
18% to $226,110 compared to revenue of $191,826 for the same period in the
previous year.


TestDEN Higher Education revenues, derived from the Company's proprietary
language training products and international student marketing service, rose by
92% compared to the prior year quarter. The Company's international student
marketing service performed strongly during the quarter with sales rising 296%
year over year. Revenue growth resulted from greater international student
traffic on the Company's test preparation portal www.testden.com and an increase
in the number of high education clients. 


On a consolidated basis for the three months ended December 31, 2012, the
Company had a net profit of $15,047 on sales of $226,110 compared to a profit of
$2,907 on sales of $191,826 during the same period in the previous year. 


On a consolidated basis, expenses were $211,294 in the first quarter ended
December 31, 2012 compared to $188,919 in the first quarter ended December 31,
2011, an increase of 12%. Selling, office, and general expenses were higher as
the Company allocated greater resources towards advertising and business
development activities to support TestDEN Higher Education revenue.


The unaudited consolidated financial statements and Management Discussion and
Analysis for the quarter ended December 31, 2012 are available at www.sedar.com.


About ACT360 Solutions Ltd.

ACT360 Solutions helps colleges and universities qualify and recruit
international students. We are committed to assisting students from South
America, Europe, Africa, the Middle East, and Asia achieve their study abroad
goals. 


FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all
statements in this news release - including, without limitation, statements
regarding revenue estimates and future plans and objectives of ACT360 Solutions
Ltd. - are forward-looking statements that are subject to various risks and
uncertainties. Forward-looking statements are based on current expectations and
analyses, including the effects of anticipated product, service, and
distribution changes and the potential benefits of such efforts and activities
on the Company's results of operations in future periods. There can be no
assurance that such statements will prove to be accurate; actual results and
future events could differ materially from those anticipated in such statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
ACT360 Solutions Ltd.
Vincent Wong
President
(604) 638 1553, ext. 1
www.act360.com

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