Tinkerine Reports 2015 Financial Results

VANCOUVER, March 16, 2015 /CNW/ - Tinkerine™ Studios Ltd. (TSXV: TTD, FSE: WKN WB6B and OTC: TKSTF) ("Tinkerine" or the "Company") is pleased to announce its financial highlights for the year ended December 31, 2015. The Company's consolidated financial statements and management discussion and analysis ("MD&A") for the twelve months ended December 31, 2015 are available on SEDAR at www.sedar.com and on the Company's website at www.tinkerine.com.

Highlights

• 2015 revenue of $1,268,074, a 270% increase from 2014 revenue of $342,839;
• 2015 gross profit of $595,230, a 293% increase from 2014 gross profit of $151,312;
• Successfully implemented a dealer network for the DittoPro product with good coverage of the Canadian and USA markets;
• Initial launch of Tinkerine U content delivery platform which provides educators, students and consumers with 3D printer training, lesson plans and a form to share digital files;
• Integrated Ditto Pro software with Adobe Photoshop CC;
• Maintained a commitment to research and development in both hardware and content/software;
• Q4 2015 revenue of $349,000, a 236% increase from Q4 2014 revenue of $104,000;
• 2015 net loss of $1,069,447 versus a 2014 net loss of $2,700,252.

 

Financial Summary

			2015 YE			2014 YE
Revenue			$1,268,074			$342,839
Gross Profit			$595,230			$151,312
Expenses			$1,766,991			$1,801,825
Net Loss			($1,069,447)			($2,700,252)
Net Loss Per share			($0.03)			($0.09)

The 2015 fiscal period was a transitional year for Tinkerine with the increased acceptance of the Tinkerine suite of products including the DittoPro 3D printer and associated software. The Company recognized a significant increase in sales through its online store and associated distributors located in Canada, the United States and in international locations including China. The Company is increasing efficiencies in the production of the Ditto Pro 3D printer, and has production capacity of up to 150 3D printers per month. In addition, we have significantly reduced our monthly overhead through the streamlining of communications and public company reporting requirements, and will further identify and implement efficiencies in our production and sales cycles.

President and CEO Eugene Suyu states; "We are extremely pleased with the increased revenue and new sales channels established by our team at Tinkerine. We are continuing the development of the Ditto Pro 3D printer, and are generating significant new interest from school boards, public institutions and education oriented entities. We appreciate the support of our distributors and shareholders and look forward to future growth in this emerging sector."

Outlook

Tinkerine continues the focus on providing STEAM based (science, technology, engineering, arts and mathematics) education content with 3D printing being the foundation of sales growth. We continue to be recognized as an industry leader in this evolving sector, and believe our commitment to quality will assist in the penetration into new education programs and facilities. Tinkerine continues to develop and refine the TinkerineU learning platform, and will be adding content on a regular basis for school and customer use.

About Tinkerine

Tinkerine Studios designs and manufactures user-friendly award winning 3-D printers and software, with a focus on STEAM based educational content and online training tools. Tinkerine also manufactures our own line of high purity filament for 3-D printers.

Neither the 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.

SOURCE Tinkerine Studios Ltd.

Copyright 2015 Canada NewsWire