DataWind Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2015
February 16, 2016 at 06:12 am EST
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DataWind Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2015. For the quarter, revenue was CAD 15,501,000 against CAD 8,541,000 a year ago. The increase was driven by sales channel expansion and greater ability to meet demand as the result of increased production capacity. The increased production capacity supported record unit sales of 251,000, up 7% from 235,000 sequentially and up 73% from 145,000 in the same year-ago quarter. Operating profit was CAD 350,000 against loss of CAD 1,949,000 a year ago. Loss before income taxes was CAD 509,000 against CAD 2,012,000 a year ago. Net loss was CAD 509,000 against CAD 2,012,000 a year ago. Net loss per share- basic was CAD 0.02 against CAD 0.09 a year ago. Net cash used in operating activities was CAD 2,918,000 against CAD 11,179,000 a year ago. Additions to property and equipment during the period were CAD 16,000 against CAD 6,000 a year ago. Adjusted EBITD was CAD 106,000 against CAD 2,037,000 a year ago.
For the nine months, revenue was CAD 41,913,000 against CAD 20,718,000 a year ago. Operating loss was CAD 1,085,000 against CAD 6,870,000 a year ago. Loss before income taxes was CAD 3,702,000 against CAD 6,922,000 a year ago. Net loss was CAD 3,702,000 against CAD 6,922,000 a year ago. Net loss per share- basic was CAD 0.17 against CAD 0.35 a year ago. Net cash used in operating activities was CAD 10,063,000 against CAD 17,780,000 a year ago. Additions to property and equipment during the period were CAD 138,000 against CAD 67,000 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.