Ackroo Files Financial Results for the Three Months Ending March 31, 2013

OTTAWA, April 30, 2013 /CNW/ - Ackroo Inc. (TSX-V: AKR) (the "Company"), a loyalty and rewards technology and services provider, today announced that it has filed financial results for Ackroo Inc. for the three months ended March 31, 2013.

The information presented for the three months ended March 31, 2013 reflects revenue growth of 88% over the same period last year. Ackroo has expanded operations and focused on increasing market penetration of its web-based loyalty platform, which enables independent merchants and retailers, franchises and business networks to increase profitability and build long-term customer relationships through customized loyalty and rewards programs.

"The results for this quarter show we are gaining traction with 26% growth over our previous quarter," said Eamonn Garry, chief executive officer at Ackroo. "With our major restructuring behind us and a newly-expanded direct sales force coupled with deepening channel partner integration, we are set up for continued growth in 2013. The following few quarters will see Ackroo's expansion into new verticals as well as marked innovation in our software platform with leading edge web and payment terminal technologies. These advances show the strength of our operating plan and our commitment to delivering a compelling experience for our customers."

The complete financial results for Ackroo are available at www.sedar.com. Highlights include:

• Sales of $230,992 for the three month period ended March 31, 2013 as compared to $122,915 for the three month period ended March 31, 2012;
• Gross Profit of $158,614 for the three month period ended March 31, 2013 as compared to $96,464 for the three month period ended March 31, 2012;
• Loss from operations before depreciation, amortization, and stock based compensation was $822,850 for the three month period ended March 31, 2013 as compared to $454,877 for the three month period ended March 31, 2012;
• $239,890 of the $464,599 restructuring expenses were paid in the first quarter with the remaining $224,709 being accrued and paid over the next 12 months;
• Comprehensive loss of $1,559,900, or $0.03 per share, for the three month period ended March 31, 2013 as compared to $715,646, or $0.04 per share, for the three month period ended March 31, 2012,

Currently, Ackroo has 57,144,135 basic shares outstanding.

About Ackroo
Ackroo enables small to medium sized businesses, independent merchants and business networks to increase profitability and build long-term customer relationships through customized loyalty and rewards programs. Their web-based solutions provide the power of a massively scalable software platform in a lightweight online tool that works with existing point-of-sale equipment, making it easy and affordable for businesses of any size to design and launch their own five-star loyalty program. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

SOURCE: Ackroo Inc.

John Chapman
Chief Financial Officer | Ackroo
Tel: [phone] x714
Email: [email protected]

Jennifer Nelson
Vice President, Marketing | Ackroo
Tel: [phone] x705
Email: [email protected]