DATA Communications Management
Corp. (TSX: DCM; OTCQX: DCMDF) (“DCM” or the "Company"), a leading
provider of marketing and business communication solutions to
companies across North America, today announced preliminary
financial results for the first quarter of 2022 and that it expects
to release its financial results for the first quarter 2022 the
evening of May 10, 2022.
Q1 2022 Preliminary Financial Results
DCM is currently finalizing its financial results for the three
months ended March 31, 2022. While complete financial information
and operating data are not yet available, set forth below are
certain preliminary results of DCM’s financial results for this
quarter, subject to final adjustments and other developments that
may arise between now and the time such financial results are
finalized. Based on preliminary results, management expects:
- Revenue for the first quarter of 2022 of approximately $69
million, an increase of approximately 11% compared to that in the
first quarter of 2021;
- Gross profit of approximately $20 million, an increase of
approximately 8% compared to the first quarter of 2021;
- EBITDA equal to Adjusted EBITDA of approximately $9.4 million
in the first quarter of 2022, compared to $7.3 million and $9.3
million, respectively, in the first quarter of 2021, with EBITDA up
approximately 29% compared to last year; Adjusted EBITDA in the
first quarter of 2021 benefited from the add-back of $3.4 million
of restructuring expenses and included $1.9 million of government
grant income;
- No restructuring expenses or other “adjustments” to EBITDA in
the first quarter of 2022. The Company’s current outlook
anticipates no restructuring charges in the balance of fiscal
2022;
- Note: EBITDA and Adjusted EBITDA are not earnings measures
recognized by International Financial Reporting Standards (IFRS),
do not have any standardized meanings prescribed by IFRS and might
not be comparable to similar financial measures disclosed by other
issuers. EBITDA and Adjusted EBITDA should not be construed as
alternatives to net income (loss) determined in accordance with
IFRS as an indicator of DCM’s performance. For a description of the
composition of EBITDA and Adjusted EBITDA, why we believe such
measures are useful to investors and how we use those measures in
our business, together with a quantitative reconciliation of net
income (loss) to EBITDA and Adjusted EBITDA, respectively, see the
information under the heading “Non-IFRS Measures” and Table 3 of
DCM’s management’s discussion and analysis (MD&A) dated March
24, 2022 for the year ended December 31, 2021.
“We are very pleased to provide this update to shareholders, in
advance of our presentation later today at the Planet MicroCap
Showcase 2022 at Bally’s Hotel & Casino in Las Vegas, Nevada,”
said Mr. Kellam. “The momentum we carried out of 2021 set us up to
deliver one of our best comparable quarters since 2018. We expect
this positive momentum in our business to continue through the
balance of 2022. We look forward to providing our complete
financial results on May 10, 2022.”
To access DCM’s live Planet MicroCap Showcase 2022 presentation,
please click the webcast link below:
Planet MicroCap Showcase 2022 in Las Vegas
Date: Wednesday, May 4, 2022 Time: 1:30 p.m. Pacific Time (4:30
p.m. Eastern Time) Webcast:
https://www.webcaster4.com/Webcast/Page/2862/45075
Q1 2022 Earnings Call
The Company will host a conference call and webcast on
Wednesday, May 11, 2022, at 9.00 a.m. Eastern time. Richard Kellam,
President and CEO of DCM, and James Lorimer, CFO, will present the
first quarter 2022 results followed by a live Q&A period.
Instructions on how to access both the webcast and telephone
call are available below. For those unable to join live, a replay
of the webcast will be available on the DCM Investor Relations
page.
DCM will be using Microsoft Teams to broadcast our earnings
call, which will be accessible via the options below:
Join on your computer or mobile app Click here to join
the meeting Or call in (audio only)
+1 647-749-9154,,387296132# Canada,
Toronto Phone Conference ID: 387 296 132#
The Company’s full results will be posted on its Investor
Relations page and on www.sedar.com. A video message from Richard
Kellam, DCM’s President and CEO will also be posted on the
Company’s website.
About Data Communications Management Corp.
DCM is a marketing and business communications partner that
helps companies simplify the complex ways they communicate and
operate, so they can accomplish more with fewer steps and less
effort. For over 60 years, DCM has been serving major brands in
vertical markets including financial services, retail, healthcare,
energy, other regulated industries, and the public sector. We
integrate seamlessly into our clients’ businesses thanks to our
deep understanding of their needs, transformative tech-enabled
solutions, and end-to-end service offering. Whether we’re running
technology platforms, sending marketing messages, or managing print
pieces, our goal is to make every interaction with us surprisingly
simple.
Additional information relating to DATA Communications
Management Corp. is available on www.datacm.com, and in the
disclosure documents filed by DATA Communications Management Corp.
on the System for Electronic Document Analysis and Retrieval
(SEDAR) at www.sedar.com.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release constitute “forward
looking” statements that involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance, objectives or achievements of DCM, or industry
results, to be materially different from any future results,
performance, objectives or achievements expressed or implied by
such forward looking statements. When used in this press release,
words such as “may”, “would”, “could”, “will”, “expect”,
“anticipate”, “estimate”, “believe”, “intend”, “plan”, and other
similar expressions are intended to identify forward-looking
statements. These statements reflect DCM’s current views regarding
future events and operating performance, are based on information
currently available to DCM, and speak only as of the date of this
press release.
These forward-looking statements involve a number of risks,
uncertainties and assumptions and should not be read as guarantees
that future performance or results will be achieved. Many factors
could cause the actual results, performance, objectives or
achievements of DCM to be materially different from any future
results, performance, objectives or achievements that may be
expressed or implied by such forward looking statements. Additional
factors are discussed under the headings “Liquidity and capital
resources” and “Risks and Uncertainties” in DCM’s management’s
discussion and analysis, annual information form, and other
publicly available disclosure documents, as filed by DCM on SEDAR
(www.sedar.com).
Should one or more of these risks or uncertainties materialize,
or should assumptions underlying the forward-looking statements
prove incorrect, actual results may vary materially from those
described in this presentation as intended, planned, anticipated,
believed, estimated or expected. Unless required by applicable
securities law, DCM does not intend and does not assume any
obligation to update these forward-looking statements.
NON-IFRS MEASURES
This press release includes references to certain non-IFRS
measures and ratios. Except as otherwise noted, when used in this
press release, EBITDA means earnings before interest and finance
costs, taxes, depreciation and amortization and Adjusted EBITDA
means EBITDA adjusted for restructuring expenses, and one-time
business reorganization costs. Adjusted net income (loss) means net
income (loss) adjusted for restructuring expenses, one-time
business reorganization costs, and the tax effects of those items.
Adjusted net income (loss) per share (basic and diluted) is
calculated by dividing Adjusted net income (loss) for the period by
the weighted average number of common shares of DCM (basic and
diluted) outstanding during the period. Adjusted EBITDA as a
percentage of revenues means revenues divided by Adjusted EBITDA
and Adjusted net income (loss) as a percentage of revenues means
revenues divided by adjusted net income (loss), in each case for
the same period.
In addition to net income (loss), DCM uses non-IFRS measures and
ratios, including Adjusted net income (loss), Adjusted net income
(loss) per share, Adjusted net income (loss) as a percentage of
revenues, EBITDA and Adjusted EBITDA as a percentage of revenues to
provide investors with supplemental measures of DCM’s operating
performance and thus highlight trends in its core business that may
not otherwise be apparent when relying solely on IFRS financial
measures. DCM also believes that securities analysts, investors,
rating agencies and other interested parties frequently use
non-IFRS measures in the evaluation of issuers. DCM’s management
also uses non-IFRS measures in order to facilitate operating
performance comparisons from period to period, prepare annual
operating budgets and assess its ability to meet future debt
service, capital expenditure and working capital requirements.
Adjusted net income (loss), Adjusted net income (loss) per share,
EBITDA and Adjusted EBITDA are not earnings measures recognized by
IFRS and do not have any standardized meanings prescribed by IFRS.
Therefore, Adjusted net income (loss), Adjusted net income (loss)
per share, EBITDA and Adjusted EBITDA are unlikely to be comparable
to similar measures presented by other issuers.
Investors are cautioned that Adjusted net income (loss),
Adjusted net income (loss) per share, EBITDA and Adjusted EBITDA
should not be construed as alternatives to net income (loss)
determined in accordance with IFRS as an indicator of DCM’s
performance.
A reconciliation of net income (loss) to EBITDA and a
reconciliation of net income (loss) to Adjusted EBITDA, will be
included in Table 3 of the Management's Discussion & Analysis
for the first quarter of 2022 which will be filed on www.sedar.com
once the Company’s financial results for such period are finalized;
and a reconciliation of net income (loss) to Adjusted net income
(loss) and a presentation of Adjusted net income (loss) per share,
will be included in Table 4 of such MD&A as well.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220504005447/en/
Mr. Richard Kellam President & Chief Executive Officer DATA
Communications Management Corp. (905) 791-3151
Mr. James E. Lorimer Chief Financial Officer DATA Communications
Management Corp. (905) 791-3151 ir@datacm.com
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