ACT360 Solutions Announces 61% Revenue Increase and 231% Profit Growth for FY2013
10 Dezember 2013 - 11:30PM
Marketwired
ACT360 Solutions Announces 61% Revenue Increase and 231% Profit
Growth for FY2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 10, 2013) -
ACT360 Solutions Ltd. (the "Company" or "ACT360 Solutions")
(TSX-VENTURE:AKM), a provider of Internet-based testing and
international marketing programs for higher education, announced
its audited financial results for the year ended September 30,
2013. Results are in Canadian dollars and were prepared in
accordance with International Financial Reporting Standards.
2013 business highlights include:
- 61% year-over-year revenue growth attributed to a 184% increase
in Student Marketing Service revenue;
- Net profit growth of 231% to $78,456;
- Operating cash flow of $40,551;
- The appointment of Mr. Howard Louie to the Company's Board of
Directors to provide additional capital markets expertise.
According to Vincent Wong, CEO of ACT360 Solutions, "We are
pleased to report our third consecutive year of double digit
revenue growth. The Company has achieved profitability and the next
step will be to scale organically and through mergers,
acquisitions, and strategic partnerships."
The 2013 year-end results, compared with 2012 and 2011, are as
follows:
|
FY 2013 |
FY 2012 |
FY 2011 |
|
Sales |
$ |
1,153,853 |
$ |
715,575 |
$ |
545,620 |
|
Net Income (Loss) |
$ |
78,456 |
$ |
23,702 |
$ |
(55,495 |
) |
Earnings (Loss) per share |
$ |
0.00 |
$ |
0.00 |
$ |
(0.00 |
) |
Total Assets |
$ |
401,921 |
$ |
275,979 |
$ |
86,784 |
|
For the 12 months ended September 30, 2013, the Company's
revenue increased by 61% to $1,153,853 compared to revenue of
$715,575 in the prior year.
Student Marketing Service revenue grew 184% to $654,425 compared
to $230,753 in 2012. During 2013, the Company invested in
improvements to its student recruiting platform to enhance the
quality of the student inquiries delivered to its higher education
customers. As student application and enrollment rates improved,
higher education clients allocated a larger share of their
recruiting budget towards the Company's Student Marketing
Services.
On a consolidated basis for the 12 months ended September 30,
2013, the Company had a net profit of $78,456 on sales of
$1,153,853 compared to a profit of $23,702 on sales of $715,575
during the previous year.
Excluding non-cash share based compensation expense of $30,441
for stock options granted during the year, the Company had an
operating profit $108,897 for the 12 months ended September 30,
2013.
The audited consolidated financial statements and Management
Discussion and Analysis for the year ended September 30, 2013 are
available at www.sedar.com.
About ACT360 Solutions Ltd.
ACT360 Solutions helps colleges and universities qualify and
recruit international students. We are committed to assisting
students from South America, Europe, Africa, the Middle East, and
Asia achieve their study abroad goals.
FORWARD-LOOKING STATEMENTS: Except for statements of historical
fact, all statements in this news release - including, without
limitation, statements regarding revenue estimates and future plans
and objectives of ACT360 Solutions Ltd. - are forward-looking
statements that are subject to various risks and uncertainties.
Forward-looking statements are based on current expectations and
analyses, including the effects of anticipated product, service,
and distribution changes and the potential benefits of such efforts
and activities on the Company's results of operations in future
periods. There can be no assurance that such statements will prove
to be accurate; actual results and future events could differ
materially from those anticipated in such statements.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
ACT360 Solutions Ltd.Vincent WongPresident and CEO(604)
638-1553vincentw@act360.comwww.act360.com
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