LONGUEUIL, QC, June 21, 2012 /CNW Telbec/ - D-BOX Technologies Inc. (TSX: DBO), a leader in innovative motion technology, today announced revenues of $8,832,463 for the 2012 fiscal year which ended March 31, 2012 representing a 32% increase when compared to revenues of $6,684,740 for the 2011 fiscal year which ended March 31, 2011.
FINANCIAL HIGHLIGHTS
- D-BOX records the highest yearly revenues of its history as the commercial theatre segment grows by 36% in comparison to last year;
| For the fourth quarter and fiscal year ended March 31 (in thousands of CA$ except per-share amounts) - audited |
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| Q4 2012 | Q4 2011 | 2012 | 2011 | ||
| Revenues | 2,583 | 2,253 | 8,832 | 6,685 | |
| Net loss | (1,824) | (1,184) | (6,556) | (6,152) | |
| Basic and diluted loss per share | (0.011) | (0.006) | (0.040) | (0.045) | |
| Data from the consolidated balance sheets | |||||
| March 31, 2012 |
March 31, 2011 |
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| Cash and cash equivalents | 9,320 | 20,940 | |||
| Inventories | 4,667 | 3,004 | |||
- Significant improvement in cash flows from operations before changes in working capital items which amounted to a use of $438,233 for the fourth quarter of the 2012 fiscal year in comparison to a use of $754,865 in the previous quarter.
| Cash flows from operations before changes in working capital items (in thousands of CA$) |
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| 2012 Quarters | ||||
| Q1 | Q2 | Q3 | Q4 | Total |
| (1,125) | (1,288) | (755) | (438) | (3,606) |
OPERATIONAL HIGHLIGHTS
- As of June 19, 2012 in the commercial theatre segment, 159 screens are equipped with D-BOX MFX systems, or are in backlog, in 11 countries;
- D-BOX continues to demonstrate its ability to continuously access quality movies in the commercial theatre segment. Since April 2009, 54 movies were obtained internationally including 15 titles since January 1, 2012. Amongst all the movies obtained so far, more than half have ranked no 1 at the box office opening week-end; and
- The Original Equipment Manufacturers ("OEM") segment gains from the impact the commercial theatre segment is having on the D-BOX brand and shows a revenue growth of 30%. These two segments continue to progress in parallel
Commenting on the yearly realizations, Mr. Claude Mc Master, President and Chief Executive Officer of D-BOX declared: « Our financial results are steadily improving as we continue our progression in both the commercial theatre and original equipment manufacturers segments. As a result, this situation reflects itself very positively on the funds required by our operations and places us in an excellent position to pursue our growth. In light of the results achieved so far, I can only be very optimistic in regards to the future of D-BOX. »
ADDITIONAL INFORMATIONAL IN REGARDS TO THE FISCAL YEAR AND THE FOURTH QUARTER ENDED MARCH 31, 2012
The financial information in regards to the fiscal year and the fourth quarter ended March 31, 2012 should be read in conjunction with the Corporation's condensed consolidated financial statements and Management's Discussion and Analysis dated June 19, 2012. These documents are available at www.sedar.com
OUTLOOK
Broadly speaking, D-BOX will focus on two major development areas: commercial theatres and Original Equipment Manufacturers ("OEM"), which both target their own markets.
In light of its current backlog, both in the commercial theatre and original equipment manufacturers segments and the anticipated revenues stemming from utilization rights, rental and maintenance fees in the commercial theatre segment, D-BOX believes that the recently observed trend in cash flows from operations before changes in working capital items should be maintained in upcoming quarters.
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, D-BOX Motion Code, uses motion effects specifically programmed for each visual content which are sent to a motion system integrated either within a platform or a seat. 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® and D-BOX Motion Code® 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.
Luc Audet
Vice-President and Chief Financial Officer
D-BOX Technologies Inc.
450-442-3003 ext 296
[email protected]
Investor Relations
Marc Jasmin CMA, President
Jasmin Financial Communications
514-231-2360
[email protected]
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