D-Box Technologies (T.DBO) ramps up sales by 36% and shares gain 4%

Gaalen Engen Gaalen Engen, Stockhouse.com
0 Comments| February 13, 2014

D-Box Technologies (TSX:DBO, StockForum), a Longueuil Quebec-based designer and manufacturer of high-technology motion systems for the entertainment industry, announced today that the company hit $4.62 million in revenues for the third quarter ending December 31, 2013 versus revenues of $3.4 million reported in the matching fiscal 2013 quarter.


According to the news release, “In addition to these quarterly revenues and a seventh consecutive positive adjusted EBITDA, D-BOX increases its cash position by 34 % to $7.6 million as at December 31, 2013 in comparison to $5.7 million as at March 31, 2013.”


D-Box also noted that quarterly revenues were up 36% including $1.08 million of recurring revenues from utilization rights, rental and maintenance fees with an increase of available funds to $7.6 million.


There was a net loss for the quarter of $352,000 but is lower by 25% at $1.55 million for the nine month period versus the same period last year.


Company president and CEO, Claude McMaster, commented, “The third quarter of 2013 was marked by the growth of our revenues, of our adjusted EBITDA and of our cash position reflecting the continuous progression of both our entertainment and industrial sectors.”


Then concluded, “This clearly demonstrates that the measures we've undertaken over the course of the last few years are delivering results and are contributing to position us advantageously for the future.”


D-Box was in the news recently when the company announced an increase in sales by 21% in the middle of November.


Shares rose 4.65% on the news to $0.225 per share.


Currently there are 163.8m outstanding shares with a market cap of $36.8 million.

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