Click here to close now.

Welcome!

.NET Authors: Carmen Gonzalez, VictorOps Blog, Elizabeth White, Liz McMillan, Greg O'Connor

News Feed Item

Strong results for Mediagrif in the second quarter of fiscal 2013

Second quarter highlights:

  • Revenues up 20% or $2.5 million to $15.2 million;
  • EBITDA reached 43% of revenues or $6.5 million, up 44% compared to $4.5 million;
  • Operating profit of $5.2 million compared to $3.7 million;
  • Profit of $3.4 million or $0.25 per share;
  • Repayment of $3.0 million (including $2.0 million in advance) on the term loan.

Quarterly dividend:

  • Board of Directors declared a quarterly dividend of $0.09 per share payable on January 14, 2013 to shareholders of record at the close of markets on January 3, 2013.

Amendment to credit agreement:

  • Amendment to the existing credit agreement to support the Company's growth.

TSX: MDF
www.mediagrif.com

LONGUEUIL, QC, Nov. 13, 2012 /CNW Telbec/ - Mediagrif Interactive Technologies Inc. (TSX: MDF), a world-leading operator of e-commerce solutions, today announced its financial results for the second quarter of fiscal 2013 ended September 30, 2012. Unless indicated otherwise, all amounts are in Canadian dollars.

SUMMARY OF CONSOLIDATED RESULTS

         
  Three months ended
September 30
Six months ended
September 30
(in thousands of Canadian dollars, except for numbers related to shares - unaudited) 2012 2011 2012 2011
Revenues 15,213 12,706 31,060 25,343
EBITDA 6,514 4,477 12,639 8,469
Operating profit 5,219 3,732 10,111 6,957
Profit for the period 3,429 3,747 7,062 5,905
Earnings per share        
  - Basic & Diluted 0.25 0.27 0.51 0.43
Weighted average number of share outstanding (in thousands)        
  - Basic 13,797 13,705 13,769 13,694
  - Diluted 13,822 13,740 13,806 13,733

The income analysis summary takes into consideration the impact of the acquisition of LesPAC network ("LesPAC") completed on November 14, 2011.

RESULTS FOR THE SECOND QUARTER OF FISCAL 2013

For the second quarter of fiscal 2013, revenues totalled $15.2 million, an increase of 19.7% or $2.5 million compared to the second quarter of fiscal 2012 revenues of $12.7 million.

The revenue increase is explained by the addition of revenues from LesPAC for $3.1 million, partly offset by a decrease in revenues, in original currencies, in certain subsidiaries, amounting to a net amount of $0.4 million. Moreover, the changes in the value of the Canadian dollar compared to the U.S. dollar, combined with currency hedge in place, generated a negative impact on revenues of $0.1 million during the second quarter of fiscal 2013.

Total operating expenses of the second quarter of fiscal 2013, including cost of revenues, reached $10.0 million, compared to $9.0 million for the second quarter of fiscal 2012. The increase in operating expenses is mainly due to the addition of LesPAC activities for $1.8 million during the second quarter while operating expenses of the other subsidiaries decreased by a net amount $0.8 million as a result of lower salaries and professional services, a decrease in the bad debt expense and additional tax credits.

EBITDA totalled $6.5 million or 42.8% of revenues compared to $4.5 million or 35.2% of revenues during the second quarter of fiscal 2012.

Profit reached $3.4 million ($0.25 per share), compared to $3.7 million ($0.27 per share) recorded during the second quarter of fiscal 2012. Profit for the second quarter of fiscal 2013 includes a foreign exchange loss of $0.3 million while the Company recorded a foreign exchange gain of $1.2 million during the second quarter of fiscal 2012.

RESULTS FOR THE FIRST SIX MONTHS OF FISCAL 2013

For the first six months of fiscal 2013, revenues totalled $31.1 million, an increase of 22.9% or $5.8 million, when compared to the first six months of fiscal 2012 revenues of $25.3 million.

The increase is explained by the addition of revenues from LesPAC for $6.7 million, partly offset by a decrease in revenues, in original currencies, in certain subsidiaries, amounting to a net amount of $0.6 million. Moreover, the changes in the value of the Canadian dollar compared to the U.S. dollar, combined with currency hedge in place, generated a negative impact on revenues of $0.2 million during the first six months of fiscal 2013.

Total operating expenses of the first six months of fiscal 2013, including cost of revenues, reached $20.9 million, compared to $18.4 million for the first six months of fiscal 2012. The increase in operating expenses is mainly due to the addition of LesPAC activities for $3.8 million during the first six months while operating expenses of the other subsidiaries decreased by a net amount $1.2 million as a result of lower salaries and professional services and additional tax credits.

EBITDA totalled $12.6 million or 40.7% of revenues compared to $8.5 million or 33.4% of revenues during the first six months of fiscal 2012.

Profit reached $7.1 million ($0.51 per share), compared to $5.9 million ($0.43 per share) recorded during the first six months of fiscal 2012.

CASH FLOW AND FINANCIAL POSITION

During the second quarter of fiscal 2013, operating activities generated $5.7 million of cash flows compared to $3.6 million for the corresponding period of fiscal 2012.

The Company used a portion of these funds and a portion of its cash and cash equivalents to repay an amount of $3.0 million on the term loan during the second quarter of fiscal 2013. As at September 30, 2012, a total of $11.0 million (including an amount of $8.0 million in advance) had been repaid on the $40.0 million Term Loan that was put in place to fund the acquisition of LesPAC.

As at September 30, 2012, the Company had $5.8 million of cash and cash equivalents and $16.0 million available on its revolving credit facility of $20.0 million.

During the first six months of fiscal 2013, operating activities generated $8.0 million of cash flows compared to $3.8 million for the first six months of fiscal 2012.

RECENT DEVELOPMENTS

The credit agreement signed on November 10, 2011 with the National Bank of Canada and the Bank of Nova Scotia was amended on November 13, 2012, allowing the Company to consolidate its existing term loan and revolving facility into a single revolving credit facility, to increase its borrowing capacity thereunder and the existing accordion loan of $25.0 million.

The amended credit agreement now provides for a revolving facility of $60.0 million, including an accordion loan of $40.0 million, which is subject to lenders' acceptance. Conditions attached to the original credit agreement remain unchanged except for conditions related to the term loan, including the obligation to make mandatory quarterly instalments, which now cease to apply.

QUARTERLY DIVIDEND

The Board of Directors of Mediagrif approved and declared a quarterly dividend of $0.09 per share payable on January 14, 2013, to shareholders of record at the close of markets on January 3, 2013.

About Mediagrif Interactive Technologies Inc.

Mediagrif Interactive Technologies Inc. (TSX: MDF) delivers innovative e-commerce solutions to businesses since 1996. Its web platforms enable clients to find, purchase and sell products, exchange information, gain access to business opportunities and manage supply chain collaboration with greater speed and efficiency. The Company provides e-commerce solutions in the fields of electronic components, computer equipment and telecommunications, medical equipment, automotive aftermarket, wine and spirits, diamonds and jewelry, classified ads, supply chain collaboration and government opportunities. Mediagrif has its headquarters in Longueuil and has offices in North America and Asia. For more information, please visit us at www.mediagrif.com or call 1 877 677-9088.

In addition to providing profit measures in accordance with IFRS, the Company shows operating profit and earnings before interest, taxes, depreciation and amortization ("EBITDA") as supplementary earnings measures. The Company sometimes refers to the free cash flow measure in its documents. Free cash flow is defined as cash flows from operating activities less the acquisition of property, plant and equipment and intangible assets presented in investing activities and less dividends paid that are presented in financing activities. Operating profit, EBITDA and free cash flow are not intended to be measures that should be regarded as an alternative to other financial operating performance measures prepared in accordance with IFRS. Those measures do not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies.

This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by these forward-looking statements. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect us. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation. Unless otherwise indicated, all amounts are in Canadian dollars.

Unaudited condensed consolidated interim financial statements, accompanying notes and MD&A are available on www.mediagrif.com and have been filed with SEDAR at the following address: www.sedar.com.

 

SOURCE MEDIAGRIF INTERACTIVE TECHNOLOGIES INC.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Recent technology advances in miniaturization has positioned the wearables as the pinnacle of technology convergence with the human body. We inquire if wearables are mere standard miniaturized devices extended with the connectivity and present our views on considerations like design, applications, performance, efficiency, interoperability, usage scenarios, human device interaction and consequent trade-offs enabling wearables to impart optimal value.
In this session we look at creating interactive communications via the web by adding messaging, file transfer, and group communication (group chat and audio/video conferencing) into the web experience. We will also discuss potential applications of this technology in areas including B2B, B2C, P2P, and gaming. Peter is Technical Director at Acision. He graduated from The University of Edinburgh in 2000 with a BSc (Hons) in Computer Science. After graduation Peter worked on a PSTN switch developing signalling stacks for SS7, ISDN and similar protocols and creating advanced routing and serv...
So I guess we’ve officially entered a new era of lean and mean. I say this with the announcement of Ubuntu Snappy Core, “designed for lightweight cloud container hosts running Docker and for smart devices,” according to Canonical. “Snappy Ubuntu Core is the smallest Ubuntu available, designed for security and efficiency in devices or on the cloud.” This first version of Snappy Ubuntu Core features secure app containment and Docker 1.6 (1.5 in main release), is available on public clouds, and for ARM and x86 devices on several IoT boards. It’s a Trend! This announcement comes just as...
SYS-CON Events announced today the IoT Bootcamp – Jumpstart Your IoT Strategy, being held June 9–10, 2015, in conjunction with 16th Cloud Expo and Internet of @ThingsExpo at the Javits Center in New York City. This is your chance to jumpstart your IoT strategy. Combined with real-world scenarios and use cases, the IoT Bootcamp is not just based on presentations but includes hands-on demos and walkthroughs. We will introduce you to a variety of Do-It-Yourself IoT platforms including Arduino, Raspberry Pi, BeagleBone, Spark and Intel Edison. You will also get an overview of cloud technologies s...
Health care systems across the globe are under enormous strain, as facilities reach capacity and costs continue to rise. M2M and the Internet of Things have the potential to transform the industry through connected health solutions that can make care more efficient while reducing costs. In fact, Vodafone's annual M2M Barometer Report forecasts M2M applications rising to 57 percent in health care and life sciences by 2016. Lively is one of Vodafone's health care partners, whose solutions enable older adults to live independent lives while staying connected to loved ones. M2M will continue to gr...
SYS-CON Events announced today that Vicom Computer Services, Inc., a provider of technology and service solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. They are located at booth #427. Vicom Computer Services, Inc. is a progressive leader in the technology industry for over 30 years. Headquartered in the NY Metropolitan area. Vicom provides products and services based on today’s requirements around Unified Networks, Cloud Computing strategies, Virtualization around Software defined Data Ce...
Dave will share his insights on how Internet of Things for Enterprises are transforming and making more productive and efficient operations and maintenance (O&M) procedures in the cleantech industry and beyond. Speaker Bio: Dave Landa is chief operating officer of Cybozu Corp (kintone US). Based in the San Francisco Bay Area, Dave has been on the forefront of the Cloud revolution driving strategic business development on the executive teams of multiple leading Software as a Services (SaaS) application providers dating back to 2004. Cybozu's kintone.com is a leading global BYOA (Build Your O...
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
What exactly is a cognitive application? In her session at 16th Cloud Expo, Ashley Hathaway, Product Manager at IBM Watson, will look at the services being offered by the IBM Watson Developer Cloud and what that means for developers and Big Data. She'll explore how IBM Watson and its partnerships will continue to grow and help define what it means to be a cognitive service, as well as take a look at the offerings on Bluemix. She will also check out how Watson and the Alchemy API team up to offer disruptive APIs to developers.
The IoT Bootcamp is coming to Cloud Expo | @ThingsExpo on June 9-10 at the Javits Center in New York. Instructor. Registration is now available at http://iotbootcamp.sys-con.com/ Instructor Janakiram MSV previously taught the famously successful Multi-Cloud Bootcamp at Cloud Expo | @ThingsExpo in November in Santa Clara. Now he is expanding the focus to Janakiram is the founder and CTO of Get Cloud Ready Consulting, a niche Cloud Migration and Cloud Operations firm that recently got acquired by Aditi Technologies. He is a Microsoft Regional Director for Hyderabad, India, and one of the f...
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
The best mobile applications are augmented by dedicated servers, the Internet and Cloud services. Mobile developers should focus on one thing: writing the next socially disruptive viral app. Thanks to the cloud, they can focus on the overall solution, not the underlying plumbing. From iOS to Android and Windows, developers can leverage cloud services to create a common cross-platform backend to persist user settings, app data, broadcast notifications, run jobs, etc. This session provides a high level technical overview of many cloud services available to mobile app developers, includi...
In 2015, 4.9 billion connected "things" will be in use. By 2020, Gartner forecasts this amount to be 25 billion, a 410 percent increase in just five years. How will businesses handle this rapid growth of data? Hadoop will continue to improve its technology to meet business demands, by enabling businesses to access/analyze data in real time, when and where they need it. Cloudera's Chief Technologist, Eli Collins, will discuss how Big Data is keeping up with today's data demands and how in the future, data and analytics will be pervasive, embedded into every workflow, application and infra...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
SYS-CON Events announced today that Ciqada will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Ciqada™ makes it easy to connect your products to the Internet. By integrating key components - hardware, servers, dashboards, and mobile apps - into an easy-to-use, configurable system, your products can quickly and securely join the internet of things. With remote monitoring, control, and alert messaging capability, you will meet your customers' needs of tomorrow - today! Ciqada. Let your products take flight. For more inform...
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT.
GENBAND introduced its Real Time Communications (RTC) Client for Lync* to seamlessly combine real-time communications with Lync Instant Messaging (IM) and Presence. “We’re shaking up the economics of delivering Unified Communications (UC) and offering a compelling way to integrate previously bespoke communications technologies,” said Carl Baptiste, GENBAND’s Senior Vice President, Enterprise Solutions. “We’re offering enterprises the best of both worlds by combining our own high availability voice, video and collaboration with Lync’s IM and Presence; creating a single, web centric, client. O...
SYS-CON Events announced today that GENBAND, a leading developer of real time communications software solutions, has been named “Silver Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. The GENBAND team will be on hand to demonstrate their newest product, Kandy. Kandy is a communications Platform-as-a-Service (PaaS) that enables companies to seamlessly integrate more human communications into their Web and mobile applications - creating more engaging experiences for their customers and boosting collaboration and productiv...
SYS-CON Events announced today that SoftLayer, an IBM company, has been named “Gold Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place June 9-11, 2015 at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place November 3–5, 2015 at the Santa Clara Convention Center in Santa Clara, CA. SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from ...
SYS-CON Events announced today that BroadSoft, the leading global provider of Unified Communications and Collaboration (UCC) services to operators worldwide, has been named “Gold Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BroadSoft is the leading provider of software and services that enable mobile, fixed-line and cable service providers to offer Unified Communications over their Internet Protocol networks. The Company’s core communications platform enables the delivery of a range of enterprise and consumer calling...