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Share Name | Share Symbol | Market | Type |
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TSXV:GPS | TSX Venture | Common Stock |
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TORONTO, Feb. 5, 2015 /CNW/ - BSM Technologies Inc. ("BSM" or the "Company") (TSX-V: GPS), a leading provider of remote monitoring, fleet management, fleet diagnostics and automated vehicle security systems, today announced its financial and operating results for the three months ended
December 31, 2014 (the "Quarter"). All amounts are in Canadian dollars unless otherwise stated.
First Quarter Fiscal 2015 Financial Highlights
First Quarter Fiscal 2015 Operational Highlights
"Once again, we saw solid growth in our recurring revenue and subscriber base during the quarter," said Aly Rahemtulla, BSM's President and CEO. "Lat-Lon and JMM continued to perform ahead of our expectations. We shipped products to another major global construction customer with the potential to become one of BSM's largest customers, and we further progressed our rail yard pilot installation. Looking to the remainder of fiscal 2015, we will continue to strategically invest to drive growth and profitability over the long-term."
Financial Highlights for the First Quarter of Fiscal 2015:
($ thousands except gross margin % and per share data) |
Three months ended | |||||
December 31 | ||||||
2014 |
2013 | |||||
Total revenue |
$7,857 |
$7,936 | ||||
Recurring revenue(i) |
5,025 |
4,015 | ||||
Hardware and other revenue |
2,832 |
3,921 | ||||
Gross profit |
4,380 |
4,367 | ||||
Gross margin % |
56% |
55% | ||||
Net income (loss) |
(785) |
643 | ||||
Basic income (loss) per share |
(0.017) |
0.018 | ||||
Diluted income (loss) per share |
(0.017) |
0.017 | ||||
EBITDA(i) |
343 |
1,550 | ||||
Adjusted EBITDA(i) |
788 |
1,550 | ||||
($ thousands) |
Balance as at | |||||
December 31, 2014 |
September 30, 2014 | |||||
Cash and cash equivalents |
$14,766 |
$23,621 | ||||
Restricted cash and cash equivalents |
8,800 |
nil | ||||
Working capital |
3,374 |
5,718 |
(i) Recurring revenue, EBITDA and Adjusted EBITDA are non-GAAP financial measures. Refer to the management's discussion and analysis for the three months ended December 31, 2014, for further details with respect to the Company's non-GAAP financial performance measures. |
The Company's condensed interim consolidated financial statements for the three months ended December 31, 2014, together with its corresponding management's discussion and analysis can be found under the Company's profile on SEDAR at www.sedar.com and on the Company's website at bsmwireless.com.
Conference call details:
DATE: |
Friday, February 6, 2015 | ||
TIME: |
8:30 a.m. EST | ||
DIAL-IN NUMBER: |
647-427-7450 or 1-888-231-8191 | ||
CONFERENCE ID: |
75755603 | ||
TAPED REPLAY: |
416-849-0833 or 1-855-859-2056 Reference number 75755603 Available until Friday, February 13, 2015 at midnight | ||
LIVE WEBCAST: |
http://www.newswire.ca/en/webcast/detail/1477495/1644799 Webcast will be archived for one year |
About BSM Technologies Inc. (bsmwireless.com)
BSM Technologies Inc., through its subsidiaries, is a leading provider of remote monitoring, fleet tracking, fleet maintenance and a business intelligence engine providing real time webbased tracking of mobile and fixed assets. BSM provides solutions for commercial, government, and law enforcement organizations who manage and operate diverse assets and large fleets, and who seek to enhance customer service, improve the safety of their drivers and vehicles, and lower business costs.
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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For more information, please visit http://www.bsmwireless.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward looking information. Such forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could", or "might" occur or be achieved and any other similar expressions. These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking information. Some of these risks, uncertainties and other factors are described under the heading "Risk Factors" in the Company's annual information form available at www.sedar.com. Forward-looking information is based on estimates and opinions of management at the date the statements are made. Except as required by law, BSM does not undertake any obligation to update forward-looking information even if circumstances or management's estimates or opinions should change. Readers should not place undue reliance on forward-looking information.
SOURCE BSM Technologies Inc.
Copyright 2015 Canada NewsWire
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