Click here to close now.

Welcome!

.NET Authors: Trevor Parsons, Andreas Grabner, Jason Bloomberg, Pat Romanski, Elizabeth White

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 industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focused on understanding how industrial data can create intelligence for industrial operations. Imagine ...
Every innovation or invention was originally a daydream. You like to imagine a “what-if” scenario. And with all the attention being paid to the so-called Internet of Things (IoT) you don’t have to stretch the imagination too much to see how this may impact commercial and homeowners insurance. We’re beyond the point of accepting this as a leap of faith. The groundwork is laid. Now it’s just a matter of time. We can thank the inventors of smart thermostats for developing a practical business application that everyone can relate to. Gone are the salad days of smart home apps, the early chalkb...
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...
Operational Hadoop and the Lambda Architecture for Streaming Data Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, representing a model of how to analyze rea...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
Docker is an excellent platform for organizations interested in running microservices. It offers portability and consistency between development and production environments, quick provisioning times, and a simple way to isolate services. In his session at DevOps Summit at 16th Cloud Expo, Shannon Williams, co-founder of Rancher Labs, will walk through these and other benefits of using Docker to run microservices, and provide an overview of RancherOS, a minimalist distribution of Linux designed expressly to run Docker. He will also discuss Rancher, an orchestration and service discovery platf...
SYS-CON Events announced today that Vitria Technology, Inc. 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. Vitria will showcase the company’s new IoT Analytics Platform through live demonstrations at booth #330. Vitria’s IoT Analytics Platform, fully integrated and powered by an operational intelligence engine, enables customers to rapidly build and operationalize advanced analytics to deliver timely business outcomes for use cases across the industrial, enterprise, and consumer segments.
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, 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. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures traffic gets delivered faster, safer, and more reliably than ever.
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch of Docker's initial release in March of 2013, interest was revved up several notches. Then late last...
CommVault has announced that top industry technology visionaries have joined its leadership team. The addition of leaders from companies such as Oracle, SAP, Microsoft, Cisco, PwC and EMC signals the continuation of CommVault Next, the company's business transformation for sales, go-to-market strategies, pricing and packaging and technology innovation. The company also announced that it had realigned its structure to create business units to more directly match how customers evaluate, deploy, operate, and purchase technology.
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.
Performance is the intersection of power, agility, control, and choice. If you value performance, and more specifically consistent performance, you need to look beyond simple virtualized compute. Many factors need to be considered to create a truly performant environment. In his General Session at 15th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, discussed how to take advantage of a multitude of compute options and platform features to make cloud the cornerstone of your online presence.
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...
Even as cloud and managed services grow increasingly central to business strategy and performance, challenges remain. The biggest sticking point for companies seeking to capitalize on the cloud is data security. Keeping data safe is an issue in any computing environment, and it has been a focus since the earliest days of the cloud revolution. Understandably so: a lot can go wrong when you allow valuable information to live outside the firewall. Recent revelations about government snooping, along with a steady stream of well-publicized data breaches, only add to the uncertainty
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...
PubNub on Monday has announced that it is partnering with IBM to bring its sophisticated real-time data streaming and messaging capabilities to Bluemix, IBM’s cloud development platform. “Today’s app and connected devices require an always-on connection, but building a secure, scalable solution from the ground up is time consuming, resource intensive, and error-prone,” said Todd Greene, CEO of PubNub. “PubNub enables web, mobile and IoT developers building apps on IBM Bluemix to quickly add scalable realtime functionality with minimal effort and cost.”
The Internet of Things (IoT) is rapidly in the process of breaking from its heretofore relatively obscure enterprise applications (such as plant floor control and supply chain management) and going mainstream into the consumer space. More and more creative folks are interconnecting everyday products such as household items, mobile devices, appliances and cars, and unleashing new and imaginative scenarios. We are seeing a lot of excitement around applications in home automation, personal fitness, and in-car entertainment and this excitement will bleed into other areas. On the commercial side, m...
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...
In the consumer IoT, everything is new, and the IT world of bits and bytes holds sway. But industrial and commercial realms encompass operational technology (OT) that has been around for 25 or 50 years. This grittier, pre-IP, more hands-on world has much to gain from Industrial IoT (IIoT) applications and principles. But adding sensors and wireless connectivity won’t work in environments that demand unwavering reliability and performance. In his session at @ThingsExpo, Ron Sege, CEO of Echelon, will discuss how as enterprise IT embraces other IoT-related technology trends, enterprises with i...
When it comes to the Internet of Things, hooking up will get you only so far. If you want customers to commit, you need to go beyond simply connecting products. You need to use the devices themselves to transform how you engage with every customer and how you manage the entire product lifecycle. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, will show how “product relationship management” can help you leverage your connected devices and the data they generate about customer usage and product performance to deliver extremely compelling and reliabl...