D-BOX Technologies Increases Its Recurring Revenues by More than 130%
14 Août 2013 - 3:13PM
Marketwired Canada
D-BOX Technologies Inc. (TSX:DBO), a leader in innovative motion technology
announced today revenues of $3,498,599 for the first quarter ended June 30, 2013
in comparison to revenues of $3,567,876 in the first quarter of the previous
fiscal year. Also, the gross margin excluding amortization increases from 55% to
63% generating for a positive adjusted EBITDA for a fifth consecutive quarter.
Highlights
-- D-BOX records a fifth consecutive quarterly positive adjusted EBITDA:
-- The entertainment market generates revenues from utilization rights,
rental and maintenance fees up by more than 130% in comparison with
the last quarter ended March 31, 2013.
-- Five productions from Hollywood's main studios shown in theatres by
D-BOX were ranked #1 at the North American box-office during opening
weekend.
-- The industrial market grows by 20% and continues to offer an
interesting diversification to D-BOX's revenues.
-- Growth of the gross margin excluding amortization which represents
63% of revenues in comparison to 55% for the corresponding quarter
of last year resulting from the utilizations rights, rental and
maintenance fees' exceptional performance.
-- Continuous deployment with international and strategic commercial
theatre chains:
-- Cinemark, the third largest chain in the United-States, continues
its deployment in South America installing two new theatres equipped
with D-BOX's technology in Columbia. These installations follow the
deployment of two initial screens in Peru in November 2012.
-- Cineplex, the fifth most important theatre chain in North America
and one of D-BOX's most significant customers in the entertainment
market will offer going forward, the purchase of D-BOX tickets
through the Internet.
Information from the Consolidated Statements of Operations and
Comprehensive Loss
For the first quarter ended June 30
(in thousands of $CA, except per share amounts)
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2013 2012
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Revenues 3,499 3,568
Adjusted EBITDA 13 117
Net loss (519) (590)
Basic and diluted net loss per share (0.0032) (0.0036)
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Information from the Consolidated Balance Sheets
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June 30, 2013 March 31, 2013
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Cash and cash equivalents 4,577 5,708
Inventories 4,597 4,578
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Commenting on the quarterly realizations, Mr. Claude Mc Master, President and
Chief Executive Officer of D-BOX, declared: "Our financial results reflect the
business development efforts deployed during the last quarters to ensure growth
in our revenues while exercising tight control over our operating expenses.
Considering these results, we continue to manage our operations to increase our
profitability."
Additional Informational in Regards to First Quarter Ended June 30, 2013
The financial information relating to the first quarter ended June 30, 2013
should be read in conjunction with the Corporation's condensed consolidated
financial statements and Management's Discussion and Analysis dated August 13,
2013. These documents are available at www.sedar.com
Outlook
D-BOX focuses on two major development areas: the entertainment market and the
industrial market which have their respective sub-markets.
In light of the business development activities in each of these two markets,
D-BOX anticipates that the upward trend in revenues should be sustained despite
remaining subject to a certain level of volatility. In combination with this
expected growth of revenues over the next few quarters, D-BOX also forecasts to
gradually increase the level of its operating expenses. The Corporation aims to
maintain a positive adjusted EBITDA and intends to manage its operations based
on attaining this objective.
Reconciliation of the Adjusted EBITDA to the Net Loss
The adjusted EBITDA designates net loss before items not affecting cash, the
foreign exchange gain or loss, financial expenses, interest income and income
taxes. This measure supplies useful and complementary information which allows
amongst others to evaluate profitability and cash flows provided by operations.
The following table explains the reconciliation of the adjusted EBITDA to the
net loss.
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For the first quarter
ended June 30
2013 2012
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Net loss (519) (590)
Amortization of property, plant and
equipment 588 486
Amortization of intangible assets 70 62
Amortization of other assets 23 22
Write-off of property, plant and
equipment 16 -
Share-based payment expense 167 261
Foreign exchange gain (344) (118)
Financial results (financial expenses
and interest income) 6 (10)
Income taxes 6 4
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Adjusted EBITDA 13 117
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About D-BOX
D-BOX Technologies Inc. designs, manufactures and commercializes cutting-edge
motion systems intended mainly for the entertainment and industrial simulation
markets. This unique and patented technology, the D-BOX Motion Code, uses motion
effects specifically programmed for each visual content which are sent to a
motion system integrated into either a platform or a seat or any other product.
The resulting motion is perfectly synchronized with the on-screen action, thus
creating an unparalleled realistic immersive experience. As of today, many
Hollywood studios offer D-BOX Motion Code on their motion pictures in commercial
theatres, on DVDs and Blu-rays. By reaching agreements with various industry
leaders, D-BOX's award-winning motion technology is gradually proving itself as
a new global standard. D-BOX is a public company whose shares are traded on the
Toronto Stock Exchange under the symbol DBO. D-BOX(R) and D-BOX Motion Code(R)
are registered trademarks of D-BOX Technologies Inc. Other names are for
informational purposes only and may be trademarks of their respective owners.
Disclaimer in regards to forward-Looking Statements
Certain statements included herein, including those that express management's
expectations or estimates of our future performance, constitute "forward-looking
statements" within the meaning of applicable securities laws. Forward-looking
statements are necessarily based upon a number of estimates and assumptions
that, while considered reasonable by management at this time, are inherently
subject to significant business, economic and competitive uncertainties and
contingencies. Investors are cautioned not to put undue reliance on
forward-looking statements. The Corporation disclaims any intent or obligation
to update publicly these forward looking statements, whether as a result of new
information, future events or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
Luc Audet
Vice-President and Chief Financial Officer
D-BOX Technologies Inc.
450-442-3003 ext 296
laudet@d-box.com
Investor Relations
Marc Jasmin CPA, CMA, President
Jasmin Financial Communications
514-231-2360
marc@comjasmin.com
D Box Technologies (TSX:DBO)
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