D-BOX Technologies reports the highest yearly revenues of its history

Buoyed by all of its segments, revenue growth reaches 47%
For the fiscal year ended March 31, 2011

LONGUEUIL, QC, June 17, 2011 /CNW Telbec/ - D-BOX Technologies Inc. (TSX:DBO), a leader in innovative motion technology, announced today revenues of $6,684,740 for its 2011 fiscal year which ended March 31, 2011 which compares to revenues of $4,539,904 for the 2010 fiscal year which ended March 31, 2010. The net loss for the year amounts to $6,086,871 ($0.045 per share) which compares to a net loss of $6,025,229 ($0.0586 per share) for the 2010 fiscal year.


OPERATIONAL HIGHLIGHTS

  • As of June 16, 2011, in the commercial theatre segment, 2,294 D-BOX MFX systems are installed or scheduled to be installed in 93 sites across North-America, Europe and Asia;

  • D-BOX continues demonstrating its ability obtaining on an ongoing basis feature presentations from Hollywood's major studios. Since April 2009, 30 feature presentations have been obtained, 13 during 2011 where 11 were ranked number 1 at the box office;

  • Continuous breakthrough of the Original Equipment Manufacturers market (OEM's) throughout the year with the signature of four significant agreements: one of WMS, an important Corporation active in the casino gaming sector, another one with Precision Flight Controls, active in the flight simulation industry, one with Global Immersion to install motion systems at the Moscow planetarium and finally an agreement in the field of therapeutics creating the new concept of "Therapeutic Motion SimulationTM" with Vita Care.



FINANCIAL HIGHLIGHTS

  • D-BOX reports the highest yearly revenues of its history as the commercial theatre segment increases its revenues tenfold in comparison to the previous year and the Original Equipment Manufacturers (OEM) segment shows an increase of over 7%;

  • Significant reduction of cash flows used by operating activities before working capital variation which amount to $647,432 for the fourth quarter of 2011 in comparison to $1,343,212 for the corresponding quarter of the 2010 fiscal year;

  • Equity financings totalling a net amount of $21.8 million were successfully completed in October 2010, December 2010 and January 2011, including investments made from existing shareholders and the exercise of warrants; and

  • As of April 1, 2011, D-BOX's stock migrates from the TSX Venture Exchange to the Toronto Stock Exchange.
 
For the fourth quarter and Fiscal Year ended March 31 (in CAN$)
 
  Q4 2011 Q4 2010   2011 2010
Revenues 2,252,500 1,127,362   6,684,740 4,539,904
Net loss and
  comprehensive loss
(1,161,868) (1,578,114)   (6,086,871) (6,025,229)
Basic and diluted
  loss per share
(0.006) (0.0138)   (0.0450) (0.0586)
Data from the Consolidated Balance sheet
        March 31, 2011 March 31, 2010
Cash and cash equivalents      20,940,329 7,724,497


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

"We've just achieved the best year in the company's history. The breakthrough in commercial theatres continues to gain traction at a time where our business development efforts in the OEM segment are also yielding significant results. Given the excellent support received so far, we will continue to develop these two markets. With a solid balance sheet and interesting growth opportunities, I can only be very optimistic in regards to our future"

FISCAL YEAR ENDED MARCH 31, 2011

Revenues for the 2001 fiscal year ending March 31, 2011, which include sales of motion generation systems sales to OEMs, MFX movie theatre system sales and revenues in regards to sales of admission tickets in commercial theatres amounted to $6,684,740 up 47% compared with $4 539 904 in 2010.

Considering the gradual deployment of D-BOX MFX seats throughout the fiscal year, as of March 2011, 1,410 MFX motion seats were installed in 58 rooms which compares to 448 MFX motion seats installed in 19 rooms as at March 31, 2010. These seats generated revenues of $2,048,216 in the fiscal year which compares to $211,956 generated last year. In regards to revenues generated by Original Equipment Manufacturers (OEMs) they amounted to $4,636,524 in 2011 which compares to $4,327,948 in 2010.

For the fiscal year ended March 31, 2011, net loss and comprehensive loss amounted to $6,086,871 (0.045 $ per share) which compares to $6,025,229 ($0.0586 $ per share) in 2010. The slight 1% increase in net loss and comprehensive loss resulted from the significant increase in revenues less the higher expenses related to the development of commercial theatres and marketing initiatives.

FOURTH QUARTER ENDED MARCH 31, 2011

For the fourth quarter of the 2011 fiscal year, sales amounted to $2,252,500 which compares to $1,127,362 in the corresponding quarter last year or a 100% increase. Sales of products to Original Equipment Manufacturers (OEM) amounted to $1,263,174 representing a 22% increase when compared to the $1,038,714 of sales realized in the fourth quarter of 2010. As for revenues generated by the commercial theatre segment in the fourth quarter, they amounted to $989,326 in 2011 which compares to $88,648 in 2010.

For the fourth quarter ended, net loss and comprehensive loss amounted to $1,161,868 ($0.006 per share) which compares to $1,578,114 ($0.0138 per share) last year.

ADDITIONAL INFORMATION IN REGARDS TO THE FISCAL YEAR AND THE THREE-MONTH PERIOD ENDING MARCH 31, 2011

The financial information in regards to the quarter and fiscal year ended March 31, 2011 should be read in conjunction with the Corporation's financial statements and management and discussion analysis dated June 16, 2011. These documents are available at www.sedar.com.

OUTLOOK

Broadly speaking, D-BOX will focus on two major development areas and their specific markets: commercial theatres and OEMs. In the short term, D-BOX intends to allocate the vast majority of its resources to the commercial theatre market offering the most attractive prospects.

With regard to commercial theatres, D-BOX 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. In North America, as D-BOX intends to widen its offering to larger national chains, more present, amongst others in large urban centres. These chains provide the potential to significantly accelerate the speed of deployment and raise the Corporation's current visibility. In Europe, D-BOX intends to continue working with local partners.

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

ABOUT D-BOX

D-BOX Technologies designs, manufactures and commercializes leading edge technology motion systems mainly for the entertainment and simulation industries. With its unique, patented technology, D-BOX Motion CodeTM, motion effects are specifically programmed for each visual content and sent to a motion generating system integrated within either a platform or a seat. The resulting motion is perfectly synchronized with the onscreen content, creating an unmatched realistic, immersive experience. To date, major Hollywood Studios have D-BOX Motion CodeTM available on feature films, DVDs and Blu-raysTM. 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 publicly traded company listed on the TSX exchange under the symbol DBO. For further information please see www.d-box.com

D-BOX(R) is a registered trademark and D-BOX Motion CodeTM is a trademark of D-BOX Technologies Inc. Other names are for informational purposes only and may be trademarks of their respective owners. 

 

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

Profil de l'entreprise

D-BOX TECHNOLOGIES INC.

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