Click here to close now.

Welcome!

.NET Authors: Elizabeth White, Liz McMillan, Pat Romanski, Jaynesh Shah, Carmen Gonzalez

News Feed Item

SENSIO Reports its Financial Results for Second Quarter 2012-2013

Growth of deferred revenue linked to the consumer electronic market is maintained as well as the reduction of quarterly loss

MONTREAL, QUEBEC -- (Marketwire) -- 01/25/13 -- SENSIO Technologies Inc. ("SENSIO" or the "Corporation") (TSX VENTURE:SIO) presented today its financial results for the second quarter of fiscal year 2012-2013. During this quarter, the Corporation's revenues growth from consumer electronics continued totaling $84,867 compared to $61,226 for the same quarter of the previous year, an increase of $23,641. The increase of revenue coming from consumer market is explained by the signing of new agreements as well as by the revenue growth from previously signed agreements. Total revenues for the period totaled $92,433 compared to $109,702 for the same quarter of the previous year, a decrease of $ 17,269 or 15.7%. Although the total revenue is in decline following the decrease of revenues from the Live 3D market, the Corporation was able to reduce its losses of 172 112$ or 14.6% thanks to the cost control of operational expenses. Finally, the deferred revenues for this quarter passed from $555,765 on May 31st, 2012 to $984,176 on November 30, 2012, an increase of $428,411. These revenues will be recognized progressively, in accordance with the terms of the applicable agreements.

"During the last quarter, our activities on the consumer electronics market generated significant revenue and deferred revenue. This demonstrates once again our capacity to monetize our intellectual property as well as the progress of the corporation and its objectives in a growing 3D industry" explained Nicholas Routhier, President and CEO. "The successful pursuit of the development of 3DGO! has allowed us to launch the testing phase of 3DGO and announce our collaboration with Vizio at the last CES. To that effect, the reactions of the studios, manufacturers and specialised medias having seen the 3DGO! demonstration was excellent and we are very encouraged and excited with regards to the coming official launch on the American market. In view of the reaffirming by many actors of the industry that 3D remains a priority on the market, in conjunction with smart televisions and 4K, we are more convinced than ever that our bold content strategy will be the key of our success in 2013 and that we will be able to demonstrate concrete strategic results to our shareholders in a near future"

Highlights of the second quarter ended November 30, 2012


--  Signature of a licensing agreement with WiLAN over certain patents
    associated with SENSIOr S2D Switch technology; 
--  Closing of a private placement of $3.45M all coming from institutional
    investors; 
--  Launch of testing phase of 3DGO!, the last step before the official
    launch; 
--  Increase of deferred revenue of $428,411 since the beginning of fiscal
    year; 
--  Scaled down operating expenses by 14.6% since the beginning of the
    fiscal year. 

Live 3D - Priority to series of events and network deployment

The Corporation didn't get any revenue from the Live 3D market during the second quarter compared to $24,268 for the same period last year. This decrease of revenues from the Live 3D is explained by the income earned during the second quarter of the previous year following the integration of the SENSIO ® Hi-Fi 3D technology in a product.

"We will continue to evaluate various projects in parallel, however, for now, none of those presented to us respect the profitability criteria we have established internally" indicated Richard LaBerge, Executive Vice-President and Chief of Business Development Officer. "At this time, we are pursuing our investigation using a minimum of internal resources and we stay ready should a project respecting the parameters we have established present itself to us. We remain committed towards Live 3D and we strongly believe that after its launch 3DGO! will represent a major asset for the profiting of Live 3D events, which will allow us to revive this activity more actively. "

Consumer Electronics - pursuing of progress

On the Consumer Electronics side, SENSIO's revenues increased from $61,226 for the second quarter of the previous period to $84,867 for the quarter ended November 30, 2012, an increase of 38.6%. The increase of revenue coming from consumer market is explained by the signing of new agreements as well as by the revenue growth from previously signed agreements.

"The increase of our revenues on the consumer electronic market proves that 3D is pursuing its progression in this important market and confirms the relevance of our plan" said M. Routhier. "During the coming months, we will pursue our efforts on the integration of the SENSIO® Hi-Fi 3D technology in the products of TCL and Hisense, our latest licensees, as well as on the adding of new manufacturer clients in order to increase our penetration rate. This will be strongly facilitated by the launch of 3DGO! which brings an undeniable increased value to 3D products offered in the market by manufacturers who have insufficient content for their clients, the consumers. The recent announcement of the agreement with Vizio pertaining to 3DGO! is a concrete and significant example thereof. By taking into consideration the potential future revenues generated by the agreement with Wi-Lan for the S2D Switch, by the current and future licensees of SENSIO, and by the 3DGO! service in the growing 3D at home market, we can only be optimistic on the future progress of our revenues in this market. "

Summary of financial results

For the second quarter of fiscal year 2012-2013, SENSIO posted revenues of $92,433 compared to $109,702 for the same quarter of the previous year, a decrease of $17,269 or 15.7%. Gross profit for the second quarter was $88,726 or 96.0% of its revenues compared to $105,479 or 96.2% of its revenues for the same period the previous year.

During this quarter, selling expenses amounted to $594,734 compared to $642,499 for the same quarter of the previous year, a decrease of $47,765 or 7.4%. Research and development expenses totalled $154,168 compared to $215,816 in the corresponding quarter of the previous year, a decrease of $61,648 or 28.6%. Administrative expenses amounted to $350,987 for the quarter ended November 30, 2012 compared to $427,958 for the comparative quarter the previous year, a decrease of $76,971 or 18%.

SENSIO's net loss for the quarter ended November 30, 2012 came to $1,010,819 (0.02 $ per share) compared to $1,182,931 (0.02 $ per share) as of November 30, 2011, a decrease of $172,112 or 14.6%. During the quarter, the management of the Corporation continued to manage its expenses in order to optimize the use of its financial resources while ensuring to achieve its business objectives.

Selected Financial information


----------------------------------------------------------------------------
                                                          Fiscal year 2013  
                    --------------------------------------------------------
                                            Q2                          Q1  
----------------------------------------------------------------------------
                                                                            
Revenues                                92,433 $                   110,864 $
Gross profit                            88,726 $                   107,970 $
Net loss                            (1,010,819)$                  (895,248)$
Basic and diluted                                                           
 loss per share                          (0.02)$                     (0.02)$
Basic and diluted                                                           
 weighted average                                                           
 number of shares                   60,696,110                  52,512,544  
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                                                         Fiscal year 2012   
                    --------------------------------------------------------
                              Q4            Q3            Q2            Q1  
----------------------------------------------------------------------------
                                                                            
Revenues                  90,651 $     679,913 $     109,702 $     250,275 $
Gross profit              30,832 $     676,404 $     105,479 $     203,832 $
Net loss              (1,322,159)$    (870,844)$  (1,182,931)$    (958,940)$
Basic and diluted                                                           
 loss per share            (0.03)$       (0.02)$       (0.02)$       (0.02)$
Basic and diluted                                                           
 weighted average                                                           
 number of shares     52,487,797    52,487,797    52,487,797    52,486,710  
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                                                          Fiscal year 2011  
                    --------------------------------------------------------
                                            Q4                          Q3  
----------------------------------------------------------------------------
                                                                            
Revenues                                94,955 $                   410,651 $
Gross profit                            91,894 $                   405,626 $
Net loss                            (1,665,851)$                (1,313,667)$
Basic and diluted                                                           
 loss per share                          (0.03)$                     (0.03)$
Basic and diluted                                                           
 weighted average                                                           
 number of shares                   52,371,058                  51,991,054  
----------------------------------------------------------------------------

For more details, please consult the Management Discussion and Analysis report and the Financial statements for the referenced quarter on SENSIO's website: www.sensio.tv

About SENSIO Technologies Inc. (SENSIO):

Founded in 1999, SENSIO Technologies Inc. (www.sensio.tv) is a pioneer in the 3D industry. Its vision, expertise and state-of-the-art solutions, based on diversified stereoscopic image-processing technologies, have been trusted by some of the biggest names in the broadcasting and consumer electronics sectors, as well as for live 3D events in cinemas, to power numerous industry firsts, initiate new business models and generate immediate revenue with a distinctive 3D offering.

SENSIO enables its clients to deliver the best possible 3D experience for the end-user through a broad portfolio of licensed products, based on quality, content, usability and compatibility. These include its flagship, award -winning technology, SENSIO® Hi-Fi 3D, the premium-quality frame-compatible format.

SENSIO's technologies are the object of patents and intellectual property protection proceedings worldwide. SENSIO is listed on the Toronto TSX Venture Exchange (SIO).

SENSIO® is a registered trademark of SENSIO Technologies Inc.

This news release contains forward-looking statements that reflect the company's expectations with regard to future events. Actual events could differ significantly from those anticipated in this document.

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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
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!
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial Cloud.
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, including what it is today, what it might ultimately be, the role of wearable tech, and technology gaps stil...
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @ThingsExpo, Michael Sick, a Senior Manager and Big Data Architect within Ernst and Young's Financial Servi...
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
The Workspace-as-a-Service (WaaS) market will grow to $6.4B by 2018. In his session at 16th Cloud Expo, Seth Bostock, CEO of IndependenceIT, will begin by walking the audience through the evolution of Workspace as-a-Service, where it is now vs. where it going. To look beyond the desktop we must understand exactly what WaaS is, who the users are, and where it is going in the future. IT departments, ISVs and service providers must look to workflow and automation capabilities to adapt to growing demand and the rapidly changing workspace model.
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use cases.
One of the biggest impacts of the Internet of Things is and will continue to be on data; specifically data volume, management and usage. Companies are scrambling to adapt to this new and unpredictable data reality with legacy infrastructure that cannot handle the speed and volume of data. In his session at @ThingsExpo, Don DeLoach, CEO and president of Infobright, will discuss how companies need to rethink their data infrastructure to participate in the IoT, including: Data storage: Understanding the kinds of data: structured, unstructured, big/small? Analytics: What kinds and how responsiv...
Building low-cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, provided an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He also provided examples such as building a wearable device that provides transit or recreational information. He then reviewed the resources available to build wearable devices at home including open source hardware, the raw materials required and the options available to power s...
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it's a mix of architectural styles ...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo – to be held June 9-11, 2015, at the Javits Center in New York City, NY – is now accepting Hackathon proposals. Hackathon sponsorship benefits include general brand exposure and increasing engagement with the developer ecosystem. At Cloud Expo 2014 Silicon Valley, IBM held the Bluemix Developer Playground on November 5 and ElasticBox held the DevOps Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of...
We’re no longer looking to the future for the IoT wave. It’s no longer a distant dream but a reality that has arrived. It’s now time to make sure the industry is in alignment to meet the IoT growing pains – cooperate and collaborate as well as innovate. In his session at @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, will examine the key ingredients to IoT success and identify solutions to challenges the industry is facing. The deep industry expertise behind this presentation will provide attendees with a leading edge view of rapidly emerging IoT oppor...
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics is e...
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, 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. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the industry’s first all flash version of HyperConverged Appliances that include both compute and storag...
For years, we’ve relied too heavily on individual network functions or simplistic cloud controllers. However, they are no longer enough for today’s modern cloud data center. Businesses need a comprehensive platform architecture in order to deliver a complete networking suite for IoT environment based on OpenStack. In his session at @ThingsExpo, Dhiraj Sehgal from PLUMgrid will discuss what a holistic networking solution should really entail, and how to build a complete platform that is scalable, secure, agile and automated.