Commenting on the quarterly and year-to-date realizations, Mr. Claude Mc Master, President and Chief Executive Officer of D-BOX declared: "Given its reliability and reputation in its business segments, D-BOX continues to demonstrate great traction in revenue while keeping operating expenses under tight control. With solid financials and a brand which is gaining growing awareness, D-BOX is in an excellent position to pursue its growth."
Additional informational in regards to the third quarter and nine-month periods ended December 31, 2012
The financial information in regards to the three and nine-month periods ended December 31, 2012 should be read in conjunction with the Corporation's interim condensed consolidated financial statements and Management's Discussion and Analysis dated February 12, 2013. These documents are available at the www.sedar.com website.
Outlook
Given its growing revenues and relatively stable operating expenses, D-BOX anticipates being able to maintain the upwards trend of its adjusted EBITDA on a comparative quarterly basis.
Broadly speaking, D-BOX will focus its commercialization efforts on the two following business development segments, namely: commercial theatres and Original Equipment Manufacturers (OEMs), which both target their specific business market.
With respect to commercial theatres, D-BOX continues to develop its international selling efforts while aiming to gradually increase foreign content which will allow for better market penetration outside of North America.
In North America, D-BOX intends to continue to approach the most significant exhibitors while working with existing customers to optimize revenues.
To support business development efforts of the Original Equipment Manufacturers' market (OEMs), D-BOX will introduce over the next few quarters, a series of new actuators offering a broader range of action and allowing for considerable lifting capacity up to 227 kilos or 500 pounds per actuator. By doing so, D-BOX will propose new solutions which better answer specific needs of the industrial simulation market giving the Corporation an excellent competitive positioning.
Reconciliation of the adjusted EBITDA to the net loss
The adjusted EBITDA designates earnings before items not affecting cash, the foreign exchange gain or loss, financial expenses, interest income, and income taxes. This measure supplies useful and complementary information which allows amongst others to evaluate profitability and cash flows provided by operations.
The following table explains the reconciliation of the adjusted EBITDA(i) to the net loss:
-------------------------------------------------------------------------------------------------------------------------------------------------------- Quarter ended Nine-month period ended December 31 December 31 ------------------------------------------------ 2012 2011 2012 2011--------------------------------------------------------------------------------------------------------------------------------------------------------Net loss (273) (1,958) (2,067) (4,732) Amortization of property, plant and equipment 584 354 1,498 988 Amortization of intangible assets 64 52 191 147 Amortization of other assets 12 36 41 69 Write-off of amortization of property, plant and equipment 5 - 5 - Share-based payment expense 168 362 660 1,053 Foreign exchange loss (gain) (409) 176 82 (405) Financial results (financial expenses and interest income) 3 (21) (13) (104) Income taxes - (3) 4 (1)----------------------------------------------------------------------------Adjusted EBITDA(i) 154 (1,002) 401 (2,985)--------------------------------------------------------------------------------------------------------------------------------------------------------(i) See the "Non-IFRS Financial Measures" in the management discussion and analysis dated February 12, 2013.(ii) For the quarter ended December 31, 2012, the $409 k foreign exchange gain includes an unrealized foreign exchange gain of $222 k as a result of the translation of the net US dollars denominated monetary assets at the end-of-period date. For the nine-month period ended December 31, 2012, the foreign exchange loss amounted to $82 k which includes an unrealized foreign exchange loss of $29 k
About D-BOX
D-BOX Technologies Inc. designs, manufactures and markets cutting-edge motion systems intended mainly for the entertainment and industrial simulation industries. This unique and patented technology, D-BOX Motion Code, uses motion effects specifically programmed for each visual content which are sent to a motion system integrated into a platform, a seat or any other product. The resulting motion is perfectly synchronized with the on-screen action, thus creating an unparalleled realistic immersive experience. As of today, many major studios offer D-BOX Motion Code on their motion pictures in commercial theatres, on DVDs and Blu-rays. By reaching agreements with various industry leaders, D-BOX's award-winning motion technology is gradually proving itself as a new global standard. D-BOX is a public company whose shares are traded on the Toronto Stock Exchange under the symbol DBO.
D-BOX® and D-BOX Motion Code® are registered trademarks of D-BOX Technologies Inc. Other names are for informational purposes only and may be trademarks of their respective owners.
For more information, please visit D-BOX's website at www.d-box.com.
Disclaimer in regards to forward-looking statements
Certain statements included herein, including those that express management's expectations or estimates of our future performance, constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward-looking statements. The Corporation disclaims any intent or obligation to update publicly these forward looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Luc Audet
Chief Financial Officer
D-BOX Technologies Inc.
450-442-3003 ext 296
laudet@d-box.com
Investor Relations
Marc Jasmin, CPA, CMA, President
Jasmin Financial Communications
514-231-2360
marc@comjasmin.com
