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Share Name | Share Symbol | Market | Type |
---|---|---|---|
TSXV:DEQ | 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 | - |
LAS VEGAS, NV and LÉVIS, QC, Oct. 31, 2016 /CNW Telbec/ - DEQ Systems Corp. (TSXV: DEQ) ("DEQ" or the "Company") announced today the filing of its third quarter financial results for the period ended August 31, 2016. The consolidated financial statements are available on SEDAR (www.sedar.com) and DEQ's website and should be read in conjunction with this press release.
2016 THIRD QUARTER RESULTS AND HIGHLIGHTS:
Financial Metrics
REVENUE HIGHLIGHTS:
OPERATING HIGHLIGHTS:
EBITDA:
LIQUIDITY AND CASH FLOW
KEY PERFORMANCE INDICATOR
"DEQ continues to execute our strategy of leveraging our service team, premium content and products features to our existing and new customers. As our new and existing content and PRSM progressive system growth continues throughout the increased base of regulated jurisdictions, our investments in sales, licensing and distribution continue to pay off with steady year‐ over‐year and sequential quarter revenue growth. Our dedicated team continues to focus on product placement and marketplace penetration." stated Joe Bertolone, President and Chief Executive Officer of DEQ.
EBITDA* | ||||
THIRD QUARTER |
NINE‐MONTH Period | |||
August 31, 2016 (unaudited) |
August 31, 2015 (unaudited) |
August 31, 2016 (unaudited) |
August 31, 2015 (unaudited) | |
Net Income (Loss) |
(526,000) |
(424,000) |
(1,461,000) |
(1,142,000) |
Add/(Subtract): |
||||
Interest Expense |
5,000 |
0 |
12,000 |
4,000 |
Foreign Exchange Loss (Gain) |
1,000 |
125,000 |
122,000 |
(29,000) |
Depreciation & Amortization |
204,000 |
497,000 |
535,000 |
1,785,000 |
Stock‐Based Compensation |
(0) |
27,000 |
14,000 |
79,000 |
EBITDA* |
(316,000) |
225,000 |
(778,000) |
697,000 |
*Note: |
DEQ uses an adjusted calculation of EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization and stock based compensation and foreign exchange impact), a non‐IFRS measure, to evaluate the Company's operating performance. Securities regulators require that issuers caution readers that measures adjusted to a basis other than IFRS do not have standardized meaning under IFRS and are unlikely to be comparable to similar measures used by other companies. |
Statement of Earnings | |||||
THIRD QUARTER |
NINE-MONTH Period | ||||
August 31, |
August 31, |
August 31, |
August 31, | ||
2016 |
2015 |
2016 |
2015 | ||
(unaudited) |
(unaudited) |
(unaudited) |
(unaudited) | ||
Table Systems |
1,510,000 |
1,517,000 |
4,556,000 |
4,362,000 | |
Proprietary Table Games |
908,000 |
700,000 |
2,571,000 |
1,948,000 | |
Total recurring revenue |
2,418,000 |
2,217,000 |
7,127,000 |
6,310,000 | |
Non recurring revenue |
97,000 |
90,000 |
221,000 |
423,000 | |
Total Revenue |
2,515,000 |
2,307,000 |
7,348,000 |
6,733,000 | |
Gross Profit |
2,184,000 |
2,054,000 |
6,388,000 |
5,680,000 | |
% Gross margin |
87% |
89% |
87% |
84% | |
Operating & Administrative expenses |
2,355,000 |
2,067,000 |
6,726,000 |
5,964,000 | |
Research & Development expenses |
349,000 |
287,000 |
990,000 |
884,000 | |
Operating Income (Loss) |
(520,000) |
(300,000) |
(1,328,000) |
(1,168,000) | |
FX & other expenses (revenue) |
5,000 |
126,000 |
134,000 |
(25,000) | |
Net Income (Loss) |
(525,000) |
(424,000) |
(1,462,000) |
(1,143,000) | |
Net Income (Loss) per share |
$(0.007) |
$(0.006) |
$(0.020) |
$(0.018) |
Financial Position | ||||
August 31, |
August 31, |
November 30, | ||
2016 |
2015 |
2015 | ||
(unaudited) |
(audited) |
(unaudited) | ||
Cash and cash equivalents |
1,461,000 |
2,733,000 |
2,550,000 | |
Current assets (other than cash) |
2,242,000 |
1,839,000 |
1,716,000 | |
Long‐term assets |
3,573,000 |
3,703,000 |
3,302,000 | |
Total Assets |
$7,276,000 |
$8,275,000 |
$7,568,000 | |
Current liabilities |
2,689,000 |
1,544,000 |
2,001,000 | |
Shareholders' equity |
4,587,000 |
6,731,000 |
5,567,000 | |
Total Liabilities and Equity |
$7,276,000 |
$8,275,000 |
$7,568,000 | |
Number of shares outstanding |
71,682,000 |
71,682,000 |
71,682,000 |
ABOUT DEQ
DEQ Systems Corp. (TSXV: DEQ) is one of the market leaders in Table Game Systems, Proprietary Table Games, and Utility solutions. DEQ's systems and games are installed in over 300 casinos, in 30 countries around the world. The combination of our services, industry leading products and revenue generation capabilities make DEQ a leader for innovation in the table game bonusing segment of the global gaming market. For further information, please visit www.deq.com.
TSX Venture does not accept any responsibility regarding the accuracy of the information contained in this press release.
Forward‐looking statements contained in this Press Release involve known and unknown risks, uncertainties and other factors that August cause actual results, performance and achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.
SOURCE DEQ SYSTEMS CORP.
Copyright 2016 Canada NewsWire
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