Ackroo Announces Another Record Quarter
Ackroo achieves fourth straight quarter of double-digit growth
OTTAWA, Feb. 6, 2014 /CNW/ - Ackroo Inc. (TSXV: AKR) ("the Company"), a loyalty and rewards technology and services provider, announced that it has achieved another record quarter with revenue of $406,900 and booked sales of $537,050. This revenue growth represents a 123% increase from the same quarter last year with a sales increase representing 210% growth. Revenue compared to the last quarter grew 15%.
"I am very pleased with the growth we achieved this quarter." said Eamonn Garry, chief executive officer at Ackroo. "Over and above our quarterly growth profile we practically doubled our total revenue in 2013 with growth of 91% and we believe that this gives us a strong base for continued growth through 2014 and a clear path to positive EBITDA. I would like to thank our customers, employees and investors for their support in achieving this huge milestone and we look forward to 2014 with confidence."
Ackroo provides gift card and loyalty solutions into the $145 billion North American gift card and loyalty market. Their solutions enable businesses, merchants and business networks to increase profitability and build long-term customer relationships through customized gift card and loyalty programs. Ackroo's web-based solutions provide the power of a massively scalable software platform in a lightweight online tool that works with existing point-of-sale equipment, making it easy and affordable for businesses to launch loyalty programs that deliver immediate return on investment. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains statements that constitute forward looking statements. These statements include, among others, statements about Ackroo's intention to complete a private placement. Readers are cautioned not to place undue reliance on such forward looking statements. Such statements are based on current expectations and assumptions and involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Ackroo Inc.
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