D-BOX Technologies continues its growth

Buoyed by the company's two segments, revenue growth reaches 13%
for the second quarter ended September 30, 2011

LONGUEUIL, QC, Nov. 9, 2011 /CNW Telbec/ - D-BOX Technologies Inc. (TSX: DBO), a leader in innovative motion technology, announced today revenues of $2,030 k for the second quarter ended September 30, 2011 which compares to revenues of $1,801 k for the second quarter of the 2011 fiscal year.

OPERATIONAL AND FINANCIAL HIGHLIGHTS

  • D-BOX records quarterly revenues of $2 030 k, a 13% increase in comparison to the corresponding quarter of last year. For the six-month period ended September 30, 2011, revenues amount to $4,439 k or a 45% increase. Revenues generated from utilization rights, rental and maintenance based on the use of D-BOX MFX systems increase by 131% from $365 k to $843 k for the six-month period;

  • Concurrently with the significant increase of the commercial theatre segment, sales to Original Equipment Manufacturers increase by 32% from $1,176 k to $1,556 k. For the six-month period, the increase stands at 37%;

  • As of September 30, 2011, in the commercial theatre segment, 2,669 D-BOX MFX systems are installed or in backlog in 106 auditoriums around the world; and

  • As of September 30, 2011, D-BOX has cash and cash equivalents of $13,512 k ($0.08 per share). The Corporation also has more than five million dollars of inventory in order to properly respond to anticipated demand over the course of the next few quarters.
               
Data from the consolidated statement of earnings 
For the second quarter ended September 30
(in thousands of CA$ except per-share amounts) unaudited
     
  Quarter ended   Six-month period ended
  Sept. 30, 2011   Sept. 30, 2010   Sept. 30, 2011   Sept. 30, 2010
Revenues 2,030   1,801   4,439   3,068
Net loss (981)   (1,690)   (2,774)   (3,132)
Basic and diluted loss per share (0.0060)   (0,0136)   (0.0169)   (0.0252)
Consolidated Balance Sheet data
          Sept. 30, 2011    March 31, 2011
Cash and cash equivalents         13,512    20,940 

Commenting on the quarterly realisations, Mr Claude Mc Master, President and Chief Executive Officer of D-BOX declared:

"In light of the efforts of all the D-BOX employees, we are currently experiencing sustained growth in each of our main business segments. More specifically, in accordance to our business plan, we anticipate being able to count on a growing portion of revenues from utilization, rental and maintenance which will greatly help increase of financial flexibility. In combination with a strong cash position, a clear development plan and excellent business opportunities, the D-BOX team has everything it needs to continue in this direction."

ADDITIONAL INFORMATION IN REGARDS TO THE THREE-MONTH AND SIX-MONTH PERIODS ENDED SEPTEMBER 30, 2011

The quarterly financial information should be read in conjunction with the Corporation's interim condensed consolidated financial statements and management and discussion analysis of the quarter ended September 30, 2011 dated November 8, 2011. These documents are available at www.sedar.com.

OUTLOOK

Broadly speaking, D-BOX will focus on two major development areas: commercial theatres and OEMs, which each target a specific business market. In the short term, D-BOX intends to allocate the vast majority of its resources to the commercial theatre segment which offers the most attractive prospects.

It thus intends to continue signing agreements with new movie exhibitors, to increase the number of motion units installed at existing exhibitors and obtain new titles from movie studios. On a worldwide basis D-BOX intends to widen its offering to national theatre chains present amongst others, in large urban centres. The Corporation is currently in direct discussion with some large commercial theatre exhibitor chains and wishes to conclude some agreements within the next few months. These chains provide for the potential to significantly accelerate the speed of deployment and raise the Corporation's current visibility.

As for OEM clients, the Corporation intends to continue developing its business relationships with well-established and recognized partners within their respective segments which possess a certain level of international clout. The Corporation believes this strategy will result in reduced sales and marketing expenses and faster deployment of its motion systems. By increasing its visibility and brand awareness, the Corporation believes that its two business segments will eventually experience sustained growth.

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, the D-BOX Motion Code, uses motion effects specifically programmed for each visual content which are sent to a motion system integrated into either a platform or a seat. The resulting motion is perfectly synchronized with the on-screen action, thus creating an unparalleled realistic immersive experience. As of today, many Hollywood 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.

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.

SOURCE D-BOX TECHNOLOGIES INC.

For further information:

Luc Audet
Vice-President and Chief Financial Officer
D-BOX Technologies Inc.
450-442-3003 ext 296
laudet@d-box.com
  Investor Relations
Marc Jasmin CMA, President
Jasmin Financial Communications
514-231-2360
marc@comjasmin.com

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D-BOX TECHNOLOGIES INC.

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