Posera-HDX Announces Financial Results for the 2nd Quarter of 2012
TORONTO, Aug. 14, 2012 /CNW/ - Posera-HDX Ltd. ("Posera-HDX") (the Company) announced today its financial results for the three and six-months ended June 30th, 2012. Posera-HDX is listed on the TSX under the symbol "HDX".
Paul Howell, Chief Executive Officer, reports:
The ever-increasing pace in market adoption of mobile payments, smart-phone shopping applications, e-wallet applications, smart-phone marketing campaigns, and EMV chip and PIN payment platforms continues to provide enormous opportunity to those companies positioned to meet the technological and operational demands. Today's ten year old may never use a plastic credit card. Therefore all systems that make up the infrastructure of today's retail solution and payments environments must morph to meet the coming technological reality. Significant investments in time and financial resources will be required for the foreseeable future.
Posera-HDX Ltd. continues to invest and focus on developing significant new revenue opportunities that are complimentary to the Company's current operational foundation and synergistic with the Company's intellectual property assets. New software as a service ("SAS") products and business modules with recurring revenue are under construction. This will allow the Company to deliver an enhanced range of services to the Company's current client base and will bolster the Company's ability to attract new customers.
Following the acquisition of Cash N Go Ltd. (now a new division name HDX Payment Processing Ltd. "HDXPP") in December 2011, and following the announcement on June 14th 2012 that the Company has been approved for membership in the Interac Association as an Indirect Connector to perform the functions of an Acquirer in the Shared Cash Dispensing ("SCD") Service, Posera-HDX continues to make significant investments to enhance systems, facilities, and operating procedures in order to secure the necessary approvals to operate a payment processing switch and an ATM transaction processing switch.
Through HDXPP, Posera - HDX owns and operates a Postillion payment switch developed by S1 Corporation. In addition to the provision of SCD services, Posera-HDX plans to expand the payment switch to facilitate the processing of Point-of-Sale transactions for its merchant client base. HDXPP has retained team members and contractors with the appropriate industry expertise to allow the company to further develop the payment processing division with an eye toward monetizing the Company's investment in this division as quickly as possible.
To take advantage of the convergence in retail technologies currently underway, the Company continues to pursue merger and acquisition opportunities with complimentary organizations although none are specifically named at this time.
The worldwide economy has proven difficult resulting in slower than expected sales activity. Sales and service revenues for the three-months ended June 30, 2012 were $4,245,960. This represents an increase of 0.7% from $4,215,178 from the three-months ended June 30, 2011.
The Company has experienced an EBITDA of ($134,243) for the three-months ended June 30, 2012. Company-wide amortization of acquired intangible assets was $320,795 and amortization of property plant and equipment was $49,049. HDX Payment Processing Ltd. (the acquired Cash N Go payments processing division) experienced a loss of $143,642 and Posera-HDX Scheduler Inc. (the acquired assets of 2020 Hyperscheduler / Hypervison) experienced a loss of $20,647. The Company expects to continue to make significant investments in these divisions into the foreseeable future and will strive to increase revenue for these divisions and products as quickly as possible.
About Posera-HDX Limited (the "Company)
The Company is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware support services.
The Company's leading edge technology also includes prepaid stored value payments solutions, customer self-serve kiosks and "line buster" mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.
Through its corporate offices in Toronto, London, Brantford, Seattle Washington, Montreal, Paris, Singapore, and Glasgow, Posera-HDX has a direct sales and service team.
The company has also built a network of approximately 113 value added resale partner companies in 25 countries. There are approximately 1,100 representatives selling, supporting & installing the Posera-HDX Maitre 'D software worldwide and the solution has been deployed in over 20,000 locations in eight different languages around the world.
Posera-HDX customers include Tim Hortons, Wendy's, Arby's, Quick (France), Popeye's, East Side Mario's, O'briens, St-Hubert, Pita Pit, Popeye's, Dunkin' Donuts, Pizza Delight, Baton Rouge, Scores, Hooters, Casey's, Supermac's, HDOS, KFC, Extreme Pita, Pizza Hut, among many others.
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect the Company's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Annual Information Form of Posera - HDX Inc. filed on March 29th, 2012 with the regulatory authorities. Posera-HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
SOURCE: Posera-HDXFor further information:
Chief Executive Officer
350 Bay Street, Suite 700
Toronto, Ontario M5H 2S6
(416) 703-6462 ext. 2263