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Share Name | Share Symbol | Market | Type |
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TSXV:TNC | TSX Venture | Common Stock |
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7th CONSECUTIVE QUARTER OF RECORD ADJUSTED EBITDA
VANCOUVER, Dec. 15, 2016 /CNW/ - TIO Networks Corp. (TSX-V: TNC) today announced Q1 FY2017 financial results for the period ended October 31, 2016.
First Quarter financial & business highlights (all figures in CA dollars except where noted):
Q1, 2017 comparison to Q1, 2016 |
Three months ended October 31 | |
In thousands, expressed in CA dollars |
2016 |
2015 |
Revenue |
$ 24,218 |
$ 15,277 |
Gross Profit |
$ 11,829 |
$ 7,844 |
Net Income |
$ 1,637 |
$ 1,404 |
Adjusted EBITDA* |
$ 3,595 |
$ 2,010 |
Operating Cash Flow before non-cash working |
$ 3,685 |
$ 1,972 |
Q1, 2017 comparison to Q4, 2016 |
Quarter ended | |
In thousands, expressed in CA dollars |
October 31, 2016 |
July 31, 2016 |
Revenue |
$ 24,218 |
$ 25,020 |
Gross Profit |
$ 11,829 |
$ 11,848 |
Net Income |
$ 1,637 |
$ (478) |
Adjusted EBITDA* |
$ 3,595 |
$ 3,092 |
Operating Cash Flow before non-cash |
$ 3,685 |
$ 2,296 |
"We are very pleased to announce that we've recorded our 7th consecutive record quarter of Adjusted EBITDA and 'best ever' performance to date in terms of cash-flow generated from operations," said Hamed Shahbazi, Chairman and CEO of TIO Networks." These financial results demonstrate that TIO's unique business model is not only democratizing consumer bill payment access in the non-bank channel for millions of consumers but also illustrates continued bottom line expansion. TIO management remains focused on driving top and bottom line growth both organically and inorganically."
A conference call to discuss the results will be held today at 11am PST, 2pm EST.
To participate in the call please dial 1-647-794-1827 in Toronto or Toll free, 1-800-347-6311 and request the TIO Conference, conference ID 6149392.
About TIO Networks
TIO Networks is a cloud-based multi-channel bill payment processing and receivables management company, serving the largest telecom, wireless, cable, and utility bill issuers in North America. TIO integrates with the back office of billing systems to accept, validate, and collect payments outside of the traditional bank channel, via self-service kiosk, retail walk-in, mobile, and web solutions. TIO symbolizes fast, convenient, and secure access to expedited bill payment services.
Visit: www.TIONetworks.com.
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The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for its adequacy and accuracy.
This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. Potentially, many factors could cause our actual results to vary materially from those described herein as intended, planned, anticipated or expected. TIO Networks Corp. does not intend and does not assume any obligation to update these forward-looking statements.
* EBITDA is a non-IFRS measure - earnings before interest, tax, depreciation and amortization. Adjusted EBITDA is EBITDA plus stock-based compensation, non-recurring transaction, restructuring expenses and non-operational items. EBITDA is not a defined term under IFRS nor does it have a standard, agreed upon meaning. Accordingly, the Company's EBITDA may not be directly comparable to EBITDA reported by other issuers. Management had determined EBITDA is a useful supplemental measure in evaluating the Company's performance as it provides investors with an indication of cash available for debt service, working capital needs and capital expenditures. This non-IFRS measure is intended to provide additional information on the Company's performance and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
SOURCE TIO Networks Corp.
Copyright 2016 Canada NewsWire
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