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Conference Call
The company will host a conference call on February 14th, 2013 at 4:30 p.m. ET (1:30 p.m. PT) to discuss these financial results. PNI Digital Media's Chief Executive Officer Kyle Hall and Chief Financial Officer Cameron Lawrence will host the presentation, followed by a question and answer period.
Dial-In Number: (888) 241-0394International: (647) 427-3413Conference ID#: 89825016
Institutional investors and interested participants should dial the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization.
PNI Digital Media will also provide a live webcast and slide presentation, which will be available on the Company's website at www.pnimedia.com/webcast. An archived replay of the webcast will be available for 45 days following the live event.
Consolidated Statements of Operations and Comprehensive Income (Loss) Three Months Ended December 31, December 31, 2012 2011 ------------------------------Revenue $ 6,555,984 $ 6,950,376Cost of sales 2,923,203 2,591,569 ------------------------------Gross Profit (loss) 3,632,781 4,358,807Expenses Software development 2,515,174 2,164,177 General and administration 973,695 1,093,029 Sales and marketing 334,351 170,954 ------------------------------ 3,823,220 3,428,160 ------------------------------Profit (loss) from operations (190,439) 930,647Foreign exchange gain (loss) (130,348) 105,286Finance income 1,755 559 ------------------------------ (128,593) 105,845 ------------------------------Profit (loss) before income tax (319,032) 1,036,492Deferred income tax recovery (expense) - 3,731 ------------------------------Income tax recovery (expense) - 3,731 ------------------------------Profit (loss) for the period (319,032) 1,040,223Other comprehensive gain (loss): Cumulative translation adjustment 182,263 (287,058) ------------------------------Total comprehensive income (loss) for the period $ (136,769) $ 753,165 ------------------------------ ------------------------------Earnings (loss) per shareBasic $ (0.01) $ 0.03Fully diluted $ (0.01) $ 0.03Consolidated Balance Sheets December 31, September 30,Assets 2012 2012 ------------------------------Current assets Cash and cash equivalents $ 3,662,556 $ 4,611,824 Accounts receivable 5,192,134 4,253,541 Prepaid expenses and other current assets 520,083 622,970 ------------------------------ 9,374,773 9,488,335Property and equipment 4,325,496 4,683,355Deferred income tax asset 5,252,291 5,222,603Intangible assets 53,831 2,124Goodwill 575,983 568,479 ------------------------------ $ 19,582,374 $ 19,964,896 ------------------------------ ------------------------------LiabilitiesCurrent liabilities Accounts payable and accrued liabilities $ 4,063,083 $ 4,390,437 Current portion of deferred revenue 378,494 318,107 ------------------------------ 4,441,577 4,708,544Deferred revenue 421,903 437,140 ------------------------------ $ 4,863,480 $4,863,480 $ 5,145,684 ------------------------------Shareholders' EquityShare capital $ 66,881,748 $ 66,817,352Contributed surplus 19,306,153 19,334,098 ------------------------------ 86,187,901 86,151,450 ------------------------------Deficit (71,454,053) (71,135,021)Accumulated other comprehensive loss (14,954) (197,217) ------------------------------ (71,469,007) (71,332,238) ------------------------------ 14,718,894 14,819,212 ------------------------------ $ 19,582,374 $ 19,964,896 ------------------------------ ------------------------------Non-IFRS Financial Measures Three Months Ended December 31, December 31, 2012 2011 ------------------------------Net profit (loss) in accordance with IFRS $ (319,032) $ 1,040,223Amortization of property and equipment 381,842 404,775Amortization of intangible assets 17,542 265,331Interest expense - -Income taxes - (3,731)Stock based compensation expense 36,451 79,269Unrealized foreign exchange loss (gain) 140,547 (95,672)Loss on disposal of property and equipment 480 - ------------------------------Adjusted EBITDA $ 257,830 $ 1,690,195 ------------------------------ ------------------------------Adjusted EBITDA per share - Basic $ 0.01 $ 0.05Adjusted EBITDA per share - Fully Diluted $ 0.01 $ 0.05Weighted average shares outstanding - Basic 34,297,664 34,076,445Weighted average shares outstanding - Fully Diluted 34,298,902 34,099,611
