Iplayco Corporation Ltd. Announces Earnings Results for the Fourth Quarter and Year Ended September 30, 2018; Provides Earnings Guidance for the Year Ending September 30, 2019
December 04, 2018 at 04:33 pm EST
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Iplayco Corporation Ltd. announced earnings results for the fourth quarter and year ended September 30, 2018. For the quarter, Sales increased by 31.6% to $3,711,849 in fourth quarter of 2018 from $2,821,070 in fourth quarter of 2017. The net comprehensive loss amounted to $774,772, or net loss per share of $0.04, in fourth quarter of 2018, as compared to a net comprehensive loss of $428,810, or net loss per share of $0.02, in fourth quarter of 2017.
Sales for the year ended September 30, 2018 of $12,989,939 decreased by 14.0% compared to the year ended September 30, 2017; Net loss of $1,108,017 or $0.05 per share in 2018, compared to net income of $661,506 or $0.03 per share. The year-on-year decline in overall sales was mainly attributable to a reduction in business of $4,460,539 from the Billy Beez entities controlled by Saudi FAS Holding Company.
Sales expected to increase significantly for the year ending September 30, 2019 and net operating results expected to improve significantly in 2019 compared to 2018.
Iplayco Corporation Ltd. is engaged in designing and supplying of indoor playgrounds for children. The Company operates in two segments: Manufacturing of play structures for children, from its production plants in Langley, British Columbia, Canada and Subic Bay, Philippines (Manufacturing), and Operating a family entertainment center in Langley, British Columbia, Canada (Family Entertainment Centre). Its indoor soft-play park for Billy Beez is a family entertainment center of approximately 2,316.79 square meters located in the Mall of Dhahran, Al Khobar, Saudi Arabia. The Company, through International Play Company Inc., offers both the individual air blower-based ballistics system/arena and the compressor powered pneumatic set-up. Its play products include Indoor Play, Air Trek, Ballistics Play, Theming, Outdoor Play, Outdoor Installs and Indoor Installs. Its ballistics arenas are all custom designed and include multiple levels, targets, ball fountains, ball dumps and ball movers.
Iplayco Corporation Ltd. Announces Earnings Results for the Fourth Quarter and Year Ended September 30, 2018; Provides Earnings Guidance for the Year Ending September 30, 2019