DataWind Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2015
November 12, 2015 at 05:00 pm EST
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DataWind Inc. announced unaudited consolidated earnings results for the second quarter and six months ended September 30, 2015. For the quarter, revenue for the 3 months ended September 30, 2015, totaled CAD 14 million, an increase of 13% from CAD 12.4 million in the prior quarter, and an increase of 109% from CAD 6.7 million for the second quarter 2015. The increase was driven by the expansion of sales channels, product offerings and improved ability to meet demand as a result of increased production. Net loss was CAD 2 million or CAD 0.09 per common share compared to a net loss of CAD 1.4 million or CAD 0.06 per common share last quarter and CAD 3.2 million or CAD 0.15 per common share for the same period last year. The adjusted EBITDA for the quarter totaled CAD 5,000, improving from adjusted EBITDA loss of CAD 425,000 in the previous quarter and a loss of CAD 3.3 million in the year-ago quarter. Operating loss was CAD 1,192,000 against CAD 3,232,000 a year ago. Loss before income was CAD 2,005,000 against CAD 3,198,000 a year ago. Net loss was CAD 2,005,000 against CAD 3,198,000 a year ago.
For the six months, revenue was CAD 26,412,000 against CAD 12,177,000 a year ago. Operating loss was CAD 1,435,000 against CAD 4,921,000 a year ago. Loss before income was CAD 3,193,000 against CAD 4,910,000 a year ago. Net loss was CAD 3,193,000 against CAD 4,910,000 a year ago. Net loss per share- basic was CAD 0.14 against CAD 0.27 a year ago. Net cash used in operating activities was CAD 7,145,000 against CAD 6,602,000 a year ago. Additions to property and equipment during the period were CAD 122,000 against CAD 61,000 a year ago.
Jeotex Inc, formerly DataWind Inc, is a Canada-based provider of Internet connectivity and wireless Web access products. The Company's Internet Delivery Platform offers an Internet browsing solution by bundling a tablet device with a prepaid, second-generation (2G) Internet service plan. The Internet Delivery Platform's acceleration and data reduction are accomplished through the use of its algorithms resident on the cloud-based servers. These cloud-based servers operate as a gateway between the primary Internet-based content server and the user. The Company offers a range of UBISLATE Tablets and PocketSurfer Smartphones. Its UBISLATE Tablets include Ubislate 3G10Z, Ubislate i3G7, Ubislate 3G7Z, Ubislate 9W, Ubislate 10Ci, Ubislate 7DCX, Ubislate 7DCX+ and Ubislate 7SC. Its PocketSurfer Smartphones include Pocket Surfer GZ, Pocket Surfer 2G4X, Pocket Surfer 3G4X, Pocket Surfer 3G4Z and Pocket Surfer 3G5.