DataWind Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2016; Announces Sales Results for the First Quarter of Fiscal 2017
November 21, 2016 at 04:33 pm EST
Share
DataWind Inc. announced consolidated earnings results for the fourth quarter and full year ended March 31, 2016. For the year, the company announced revenue was CAD 59,675,000 against CAD 31,543,000 a year ago. Operating loss was CAD 1,675,000 against CAD 11,090,000 a year ago. Loss before income taxes was CAD 5,506,000 against CAD 11,597,000 a year ago. Net loss was CAD 5,506,000 against CAD 11,597,000 a year ago. Net loss per share, basic and diluted was CAD 0.25 against CAD 0.57 a year ago. Net cash used in operating activities was CAD 10,578,000 against CAD 25,203,000 a year ago. Additions to property and equipment were CAD 141,000 against CAD 61,000 a year ago. The company's results for both the quarter and year reflect the increasing demand for internet connectivity which drove the company's strong results. The increase in revenue was driven by the expansion of sales regions, carrier relationships and sales channels. The narrowing loss was due to increased sales and related improvement in gross margins offset by an increase in G&A costs. Adjusted LBITDA totaled CAD 196,000, improving from CAD 11.8 million in fiscal 2015.
For the quarter, the company announced net loss of CAD 1,640,000 against CAD 4,676,000 a year ago. Adjusted EBITDA was CAD 118,000 or CAD 0.01 per share against adjusted LBITDA of CAD 4,975,000 or CAD 0.20 per share a year ago.
The company announced sales results for the first quarter of fiscal 2017. Sales for first quarter of 2017 have surpassed 385,000 units which represents another record quarter for the company.
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.
DataWind Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2016; Announces Sales Results for the First Quarter of Fiscal 2017