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ACT360 Solutions Announces Financial Results for the Year Ended September 30, 2012

Jan 15 2013 12:00AM

Marketwire

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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/15/13 -- ACT360 Solutions Ltd. (the "Company" or "ACT360 Solutions") (TSX VENTURE: AKM), a provider of Internet-based testing and international marketing programs for higher education, announced its audited financial results for the year ended September 30, 2012. Results are in Canadian dollars and were prepared in accordance with International Financial Reporting Standards.

The 2012 year-end results, compared with 2011, are as follows:

---------------------------------------------------------------------------- Year Ended Year Ended September 30, September 30, 2012 2011----------------------------------------------------------------------------Sales $715,575 $545,620----------------------------------------------------------------------------Net Income (Loss) $23,702 ($55,495)----------------------------------------------------------------------------Earnings (Loss) per share $0.00 ($0.00)----------------------------------------------------------------------------Total Assets $275,979 $86,784----------------------------------------------------------------------------



According to Vincent Wong, CEO of ACT360 Solutions, "2012 was a year of growth for the Company as it executed its business plan to provide student recruitment and marketing services to higher education clients." 2012 business highlights include:

-- 31% year-over-year revenue growth resulting from 107% organic growth in TestDEN Higher Education sales;-- Net profit of $23,702 on revenue of $715,575 versus a loss of $55,495 on sales of $545,620 in 2011;-- Completion of the Company's education marketing technology platform to support a larger volume of clients;-- The appointment of Messrs. Howard Louie, Eric Helgeland, and Jeff Cruz to the Company's CEO Advisory Board in order to provide the Company with strategic advice on international education, digital marketing, mergers and acquisitions, and capital markets;-- Completion of a private placement of 4,000,000 units of the Company for gross proceeds of $200,000.



For the 12 months ended September 30, 2012, the Company's revenue increased by 31% to $715,575 compared to revenue of $545,620 for the previous year.

TestDEN Higher Education revenues, derived from the Company's proprietary language training products and international student marketing service, grew 107% in 2012 compared to the prior year. During the first quarter of 2012, the Company re-designed its education marketing technology platform to support higher volumes of inquiries and a greater number of university clients. Revenue growth was primarily achieved by the addition of new post-secondary education clients purchasing the Company's student recruitment service. The Company delivered a higher volume of inquiries by significantly increasing the number of Internet users of the Company's flagship website at www.testden.com.

Custom development revenue decreased by 56% as the Company no longer pursued new clients for custom software development. All revenue in this category was from the maintenance of existing client projects.

On a consolidated basis for the 12 months ended September 30, 2012, the Company had a net profit of $23,702 on sales of $715,575 compared to a loss of $55,495 on sales of $545,620 during the previous year.

On a consolidated basis, expenses were $691,881 in 2012 compared to $601,261 in 2011, an increase of 15%. Selling, office, and general expenses were higher as the Company allocated greater resources towards advertising and business development activities to support TestDEN Higher Education revenue.

The audited consolidated financial statements and Management Discussion and Analysis for the year ended September 30, 2012 are available at www.sedar.com.

About ACT360 Solutions Ltd.

ACT360 Solutions helps colleges and universities qualify and recruit international students. We are committed to assisting students from South America, Europe, Africa, the Middle East, and Asia achieve their study abroad goals.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding revenue estimates and future plans and objectives of ACT360 Solutions Ltd. - are forward-looking statements that are subject to various risks and uncertainties. Forward-looking statements are based on current expectations and analyses, including the effects of anticipated product, service, and distribution changes and the potential benefits of such efforts and activities on the Company's results of operations in future periods. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contacts:
ACT360 Solutions Ltd.
Vincent Wong
President
(604) 638 1553, ext. 1
www.act360.com





Source: Marketwire


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