DataWind Inc. Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2014
November 13, 2014 at 04:00 pm EST
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DataWind Inc. reported earnings results for the second quarter and six months ended September 30, 2014. For the quarter, the company reported revenue of CAD 6,710 against CAD 6,369 a year ago. Operating loss was CAD 3,232 against CAD 1,020 a year ago. Loss before income taxes was CAD 3,198 against CAD 1,076 a year ago. Net loss and total comprehensive loss for the period was CAD 3,130 against CAD 979 a year ago. Net loss per basic share was CAD 0.14 against CAD 0.01 a year ago. Net cash used in operating activities was CAD 6,256. Acquisition of property, plant and equipment was CAD 48. The increase in revenue was a result of higher unit sales made possible by the additional working capital provided by the IPO part way through the quarter and the expanded channel partnerships, partially offset by the large contract from the Indian government during second 2014. The change in net loss is primarily a result of one-time non-recurring expenses of CAD 1.6 million in non-capitalized and re-organizations costs.
For the six months, the company reported revenue of CAD 12,177 against CAD 12,315 a year ago. Operating loss was CAD 4,922 against CAD 2,298 a year ago. Loss before income taxes was CAD 4,910 against CAD 2,537 a year ago. Net loss and total comprehensive loss for the period was CAD 4,826 against CAD 2,368 a year ago. Net loss per basic share was CAD 0.26 against CAD 0.02 a year ago. Net cash used in operating activities was CAD 6,625. Acquisition of property, plant and equipment was CAD 53 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.