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.
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.
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 $21.8 million were
successfully completed in October 2010, December 2010 and January 2011,
including investments made from existing shareholders and the exercise
of warrants; and
As of April 1, 2011, D-BOX's stock migrates from the TSX Venture
Exchange to the Toronto Stock Exchange.
For the fourth quarter and Fiscal Year ended March 31 (in CAN$)
Net loss and
Basic and diluted
loss per share
Data from the Consolidated Balance sheet
March 31, 2011
March 31, 2010
Cash and cash equivalents
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
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.
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.
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
SOURCE D-BOX TECHNOLOGIES INC.
For further information:
Vice-President and Chief Financial Officer
D-BOX Technologies Inc.
450-442-3003 ext 296
Marc Jasmin CMA, President
Jasmin Financial Communications