Reiterates 2007 revenue guidance of $31-34 million, and positive EBITDA
Reiterates 2008 revenue guidance of $65-75 million, and substantially
improved EBITDA from 2007
TORONTO, March 3 /CNW/ - Points International Ltd. (TSX: PTS; OTCBB:
PTSEF), owner and operator of Points.com, the world's leading
reward-management portal, today announced the Company will be reporting the
fourth quarter 2007 and full year 2007 results on March 20, 2008.
"The slight delay in reporting full year results is simply to address the
time needed to complete the full financial audit," said Rob MacLean, Points
International CEO. "The company's auditors were recently acquired by Deloitte
& Touche LLP, and this fact, combined with our first full Sarbanes Oxley audit
has led to this delay. Given the 90 day window from year-end, March 20, 2008
remains well within the company's legal regulatory window in both Canada and
Points is reiterating its 2007 market guidance of revenues between $31
and $34 million with positive EBITDA as well as its 2008 market guidance of
revenues between $65 and $75 million with EBITDA substantially improved from
The Company will host a conference call with Rob MacLean, CEO,
Christopher Barnard, President and Anthony Lam, CFO of Points International to
discuss the results on Thursday, March 20th at 5:00 p.m. Eastern Time.
To participate in the conference call, investors from the US and Canada
should dial (800) 218-0204 ten minutes prior to the scheduled start time.
International callers should dial (303) 262-2131. Points International will
also offer a live and archived webcast of the conference call, accessible from
the "Investor Relations" section of the company's Web site at
https://www.points.com/static/corporate/investor_overview.html. A telephonic
replay of the conference call will also be available until 11:59 pm PT on
Tuesday, March 25, 2008 by dialing 800-405-2236 and entering the passcode:
11109078 followed by the pound key.
About Points International Ltd.
Points International Ltd. is owner and operator of Points.com, the
world's leading reward-program management portal. At Points.com consumers can
Swap, Earn, Buy, Gift, Share and Redeem miles and points from more than 25 of
the world's leading reward programs. Participating programs include American
Airlines AAdvantage(R) program, American Express(R) Membership Rewards(R),
Aeroplan(R), AsiaMiles(TM), Cendant TripRewards(R), Delta SkyMiles(R), Gold
Points Reward Network and InterContinental Hotels Group's Priority Club(R)
Rewards. Redemption partners include Amazon.com(R) and Starbucks.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, as amended and
forward-looking information within the meaning of the "safe harbor" provisions
of applicable Canadian provincial securities legislation (collectively
"forward-looking statements"). These forward-looking statements relate to our
guidance for revenues and EBITDA for 2007 and 2008. These statements are not
historical facts but instead represent only the Company's expectations,
estimates and projections regarding future events.
Although the Company believes the expectations reflected in such
forward-looking statements are reasonable, the forward-looking statements are
not guarantees of future performance, involve certain risks and uncertainties
that are difficult to predict. Undue reliance should not be placed on such
statements. Certain material factors, assumptions or estimates are applied in
making forward-looking statements. Known and unknown factors could cause
actual results to differ materially from those expressed or implied in such
statements. The revenue outlook assumes that the Company's existing products
and services will continue to perform along historical growth curves and that
the transaction rates of new contracted products and services will grow in a
manner consistent with the Company's experience with existing partners. This
outlook is based on the Company's current views. Other important factors that
could cause actual results to differ materially are described under "Risks and
Uncertainties" in the Company's Annual Information Form filed with applicable
securities regulators or are detailed in the Company's other filings with
applicable securities regulators, such as the factors detailed in the
Company's annual and interim financial statements and the notes thereto.
Readers of this press release are cautioned that forward-looking statements
are not guarantees of future performance.
The Company does not undertake any obligation to update or release any
revisions to these forward-looking statements to reflect events or
circumstances after the date of this press release or to reflect the
occurrence of unanticipated events, except as required by law.
For further information:
For further information: For investor relations: Anthony Lam, Chief
Financial Officer, Points International Ltd., (416) 596-6382,
firstname.lastname@example.org; Alex Wellins or Brinlea Johnson, The Blueshirt Group,
(415) 217-7722, email@example.com, firstname.lastname@example.org; For
partnerships and other inquiries: Christopher Barnard, President, Points
International Ltd., (416) 596-6381, Christopher.Barnard@points.com; Corporate