Third Quarter 2014 Financial and Operating Highlights ($ thousands except per share data; comparisons are made between the third quarter of 2014 and the third quarter of 2013 results, unless otherwise noted):
•Continued revenue growth: Total revenue of $6,450 represents an increase of 38%.
•Recurring revenue (i) of $4,417, an increase of 46%.
•Hardware and other revenue of $2,033, an increase of 23%.
•Adjusted EBITDA (i) of $514 compared to
•Received an initial order from one of
•Successfully closed the acquisition of
•On August 11, 2014, the Company announced that it acquired 100% of the shares of
"We continue to make key investments in both our organic growth initiatives as well as in purchasing and integrating targeted assets," said
Financial Highlights for the Third Quarter of 2014:
($ thousands except gross
Three months ended
Nine months ended
per share data)
Hardware and other revenue
Gross margin %
Basic income per share
Diluted income per share
Balance as at:
September 30, 2013
Cash and cash equivalents
The Company's financial statements for the three and nine months ended June 30, 2014, together with its corresponding management's discussion and analysis, can be found under the Company's profile on SEDAR at www.sedar.com.
About BSM Technologies Inc. (bsmwireless.com)
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Cautionary Note Regarding Forward-Looking Statements
This news release contains forward looking information. Such forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could", or "might" occur or be achieved and any other similar expressions. These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking information. Some of these risks, uncertainties and other factors are described under the heading "Risk Factors" in the Company's annual information form available at www.sedar.com. Forward-looking information is based on estimates and opinions of management at the date the statements are made. Except as required by law, BSM does not undertake any obligation to update forward-looking information even if circumstances or management's estimates or opinions should change. Readers should not place undue reliance on forward-looking information.