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16.04.2018 22:00
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Destiny Media Technologies, Inc. Announces Second Quarter Fiscal Year 2018 Results
Ein Arzt berät einen Patienten (Symbolbild).
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PR Newswire
VANCOUVER, April 16, 2018
VANCOUVER, April 16, 2018 /PRNewswire/ - Destiny Media Technologies (TSXV: DSY) (OTCQB: DSNY), the makers of Play MPE®, a cloud-based SaaS solution for digital asset management in the music industry, today announced financial results for its second quarter ended February 28, 2018.
Highlights
Highlights for the quarter include:
- Beta release of Play MPE Version 8,
- Revenue growth of 4.2%,
- 12% reduction in expenditures,
- First positive EBITDA and net income in the Company's historically slow second quarter in five years.
Second Quarter Fiscal 2018 Results
Revenue for the quarter ended February 28, 2018 grew by 4.2% to $815,055 over the same quarter in the previous year. This growth is primarily due to favorable exchange rates and the growth in US independent record labels. Combined with a 12% decrease in overall operating expenditures, to $749,390, the Company had positive income in its seasonally weakest quarter for the first time in the last five years.
"We are developing critical product updates to Play MPE, including the beta launch of version 8 this quarter," said Fred Vandenberg, Chief Executive Officer for Destiny Media Technologies, "The great feedback we're seeing from the beta gives us confidence that these product updates, along with expected investments in a stronger business development and sales team, will allow us recapture lost customers, expand to new territories, and return to stronger revenue growth."
| Destiny Media Technologies Inc. | |||||
| | |||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND | |||||
| (Expressed in United States dollars) | |||||
| Unaudited | |||||
| | | | | | |
| | Three months | Three months | Six months | Six months | |
| | ended | ended | ended | ended | |
| | February 28, | February 28, | February 28, | February 28, | |
| | 2018 | 2017 | 2018 | 2017 | |
| | $ | $ | $ | $ | |
| Revenue | 815,055 | 781,878 | 1,788,853 | 1,674,107 | |
| | | | | | |
| Operating expenses | | | | | |
| General and administrative | 160,218 | 203,922 | 304,052 | 375,424 | |
| Sales and marketing | 259,408 | 269,144 | 531,494 | 533,205 | |
| Research and development | 304,274 | 339,276 | 601,488 | 654,699 | |
| Depreciation and amortization | 25,490 | 41,612 | 51,187 | 83,490 | |
| | 749,390 | 853,954 | 1,488,221 | 1,646,818 | |
| Income from operations | 65,665 | (72,076) | 300,632 | 27,289 | |
| Other income | | | | | |
| Interest income | 1,704 | 3,871 | 4,029 | 8,634 | |
| Other income (expense) | 7 | - | (3,795) | - | |
| Net income | 67,376 | (68,205) | 300,866 | 35,923 | |
| | | | | | |
| Other comprehensive income (loss) | | | | | |
| Foreign currency translation adjustments | 11,107 | 19,238 | (41,009) | (14,131) | |
| | | | | | |
| Total comprehensive income (loss) | 78,483 | (48,967) | 259,857 | 21,792 | |
| | | | | | |
| Net income (loss) per common share, | | | | | |
| | basic and diluted | 0.00 | (0.00) | 0.01 | 0.00 Werbung Mehr Nachrichten zur Destiny Media Technologies Aktie kostenlos abonnieren
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