CALGARY, ALBERTA -- (Marketwired) -- 08/29/14 -- GINSMS Inc. (TSX VENTURE: GOK) (the "Company") has announced its financial results for the first quarter ended June 30, 2014.
The complete financial results for GINSMS are available at www.sedar.com. Highlights include:
-- Revenue of $333,103 for the three month period ended June 30, 2014 as
compared to $445,584 for the three month period ended June 30, 2013.
-- Gross Profit of $54,066 for the three month period ended June 30, 2014
as compared to $285,140 for the three month period ended June 30, 2013.
-- Selling, general and administrative expenses decreased from $381,157 for
the three month period ended June 30, 2013 as compared to $355,445 for
the quarter ended June 30, 2014.
-- Net loss of $732,425 for three month period ended June 30, 2014 as
compared to a net loss of $373,110 for the three month period ended June
30, 2013.
-- New A2P SMS Service that was introduced in March 27, 2014 generated
revenue of $78,115 for the three months ended June 30, 2014 and is
expected to contribute significantly to the Company's revenue in the
future.
Selected Profit and Loss Information
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Three-month period ended Twelve-month period ended
June 30, March 31,
Financial Highlights (Unaudited) (Audited)
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2014 2013 2014 2013
Revenues $
A2P SMS Service 78,115 - - -
IOSMS 24,179 36,738 129,360 549,328
S/W Product & Services 230,809 408,846 1,001,427 753,587
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333,103 445,584 1,130,787 1,302,915
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Cost of sales $
A2P SMS Service 73,050 - -
IOSMS 43,044 57,124 215,566 275,853
S/W Products & Services 162,943 103,320 366,204 153,675
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279,037 160,444 581,770 429,528
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Gross profit $
A2P SMS Service 5,065 - - -
IOSMS (18,865) (20,386) (86,206) 273,475
S/W Products & Services 67,866 305,526 635,223 599,912
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54,066 285,140 549,017 873,387
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Gross margin %
A2P SMS Service 9.4% - - -
IOSMS (34.9)% (7.1)% (15.7)% 31.3%
S/W Products & Services 125.5% 107.1% 115.7% 68.7%
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100.0% 100.0% 100.0% 100.0%
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EBITDA $ (245,596) 137,910 (1,172,108) (561,057)
EBITDA margin (73.7)% 31.0% (103.7)% (43.1)%
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Net earnings $ (732,425) (373,110) (2,972,208) (1,534,662)
Net earnings margin (219.9)% (83.7)% (262.8)% (117.8)%
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Net earnings (loss) per
share $
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Basic (0.01) (0.01) (0.06) (0.04)
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Diluted (0.01) (0.01) (0.06) (0.04)
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(1) EBITDA is a non-GAAP measure related to cash earnings and is defined
for these purposes as earnings before income taxes, depreciation &
amortization (in both cost of sales and general and administration
expenses) and the accretion on obligations.
About GINSMS
GINSMS is a mobile technology and services company focusing on 3 areas namely cloud-based application-to-peer messaging service ("A2P SMS Service"), inter-operator short messaging services ("IOSMS") and Software Product & Services. GINSMS conducts research and development and also establishes partnerships to develop and distribute innovative software products and services globally. Through its wholly owned subsidiaries in Singapore, Hong Kong, Malaysia and Indonesia, GINSMS has successfully deployed more than 100 solutions globally. GINSMS also operates an IOSMS hub that provides inter-operator messaging services to mobile telecom operators in Hong Kong and an A2P SMS Service messaging service that allows the termination of SMS to mobile subscribers of more than 100 mobile operators globally.
Forward Looking Statements
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GINSMS' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to GINSMS or its management. The forward-looking statements are not historical facts, but reflect GINSMS' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks Factors" in GINSMS' Filing Statement filed on August 29, 2012 with the regulatory authorities. GINSMS assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless required by law.
NEITHER THE 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.
Contacts:
GINSMS Inc.
Joel Chin
CEO
+65-6441-1029
investor.relations@ginsms.com
