Fiscal year 2013:
Revenues of $61.3 million, up 14% or $7.5 million.
EBITDA of $25.2 million, up 34%, compared to $18.8 million (before
expenses related to the acquisition of LesPAC of $1.4 million).
Solid contribution from LesPAC for its first complete fiscal year.
Profit of $14.0 million up 47% ($0.97 per share), compared to
$9.5 million ($0.69 per share).
LONGUEUIL, QC, June 11, 2013 /CNW Telbec/ - Mediagrif Interactive
Technologies Inc. (TSX: MDF), a world-leading operator of e-commerce
solutions, today announced its financial results for the fiscal year
ended March 31, 2013. Unless indicated otherwise, all amounts are in
SUMMARY OF CONSOLIDATED RESULTS
(in thousands of Canadian dollars, except for numbers related to shares
Three months ended
Fiscal year ended
Profit for the period
Earnings per share (basic & diluted)
Weighted average number of shares outstanding (in thousands)
The income analysis summary takes into consideration the impact of the
acquisition of LesPAC network (LesPAC) completed on November 14, 2011.
Due to this acquisition, the results of the fiscal year 2012 were
affected by transaction costs which had a negative impact of
$1.4 million on operating profit and EBITDA and of $1.3 million on
FISCAL YEAR ENDED MARCH 31, 2013
For the fiscal year 2013, revenues totaled $61.3 million, an increase of
$7.5 million when compared to the fiscal year 2012 revenues of
$53.8 million. This revenue increase is mainly explained by the
increase in revenues from LesPAC for $9.3 million, partly offset by a
decrease in revenues, in original currencies, of certain subsidiaries,
amounting to a net amount of $1.2 million. Moreover, the changes in the
value of the Canadian dollar compared to the U.S. dollar, combined with
currency hedges in place, generated a negative impact on revenues of
Total operating expenses for fiscal 2013, including cost of revenues,
reached $41.2 million, compared to $40.6 million for fiscal 2012. The
slight increase in operating expenses is mainly due to the addition of
LesPAC operating expenses, offset by the transaction costs incurred in
During the fiscal year 2013, EBITDA totaled $25.2 million or 41% of
revenues compared to $17.4 million or 32% of revenues during the fiscal
Profit reached $14.0 million ($0.97 per share), compared to $9.5 million
($0.69 per share) recorded during the year ended March 31, 2012.
FOURTH QUARTER OF FISCAL 2013
For the fourth quarter of fiscal 2013, revenues slightly improved to
$15.1 million, when compared to $14.9 million for the fourth quarter of
fiscal 2012. The increase is mainly explained by the increase in
revenues from LesPAC by $0.6 million, partly offset by a decrease in
revenues of certain subsidiaries amounting to a net amount of
Total operating expenses for the fourth quarter of fiscal 2013,
including cost of revenues, reached $10.1 million, compared to
$10.8 million for the fourth quarter of fiscal 2012. The decrease in
operating expenses is mainly due to the $0.4 million decrease in wage
expenses, to the $0.2 million decrease in professional fees and to the
$0.2 million decrease in depreciation and amortization expenses,
compared to the fourth quarter of fiscal 2012.
EBITDA totaled $6.4 million or 42.0% of revenues compared to
$5.5 million or 37.3% of revenues during the fourth quarter of fiscal
Profit reached $3.4 million ($0.22 per share), compared to $2.6 million
($0.19 per share) recorded during the fourth quarter of fiscal 2012.
CASH FLOW AND FINANCIAL POSITION
During fiscal 2013, operating activities generated $18.3 million of cash
flows compared to $12.3 million for fiscal 2012.
The Company used a portion of these funds and a portion of its cash and
cash equivalent to repay an amount of $5.0 million on the term loan and
$0.8 million on the revolving credit facility.
During fiscal 2013, the Company also completed the sale, by way of a
private placement, of 2 million common shares for gross proceeds of
$35.0 million. The Company used the net proceeds to repay in full the
As at March 31, 2013, the Company had $14.5 million of cash and cash
equivalents and $60.0 million available on its revolving credit
The Board of Directors of Mediagrif approved and declared a quarterly
dividend of $0.10 per share payable on July 15, 2013, to shareholders
of record on July 2, 2013.
About Mediagrif Interactive Technologies Inc.
Mediagrif Interactive Technologies Inc. (TSX: MDF) delivers innovative e-commerce solutions since 1996. Its web
platforms enable clients to find, purchase and sell products, exchange
information, gain access to business opportunities and manage supply
chain collaboration with greater speed and efficiency. The Company
provides e-commerce solutions in the fields of electronic components,
computer equipment and telecommunications, medical equipment,
automotive aftermarket, wine and spirits, diamonds and jewelry,
classified ads, labor market, supply chain collaboration and government
opportunities. Mediagrif has its headquarters in Longueuil and has
offices in North America and Asia. For more information, please visit
us at www.mediagrif.com or call 1 877 677-9088.
In addition to providing profit measures in accordance with IFRS, the
Company shows operating profit and earnings before interest, taxes,
depreciation and amortization ("EBITDA") as supplementary earnings
measures. The Company sometimes refers to the free cash flow measure in
its documents. Free cash flow is defined as cash flows from operating
activities less the acquisition of property, plant and equipment and
intangible assets presented in investing activities and less dividends
paid that are presented in financing activities. Operating profit,
EBITDA and free cash flow are not intended to be measures that should
be regarded as an alternative to other financial operating performance
measures prepared in accordance with IFRS. Those measures do not have a
standardized meaning prescribed by IFRS and may not be comparable to
similar measures presented by other companies.
This press release contains certain forward-looking statements with
respect to the Company. These forward-looking statements, by their
nature, necessarily involve risks and uncertainties that could cause
actual results to differ materially from those contemplated by these
forward-looking statements. We consider the assumptions on which these
forward-looking statements are based to be reasonable, but caution the
reader that these assumptions regarding future events, many of which
are beyond our control, may ultimately prove to be incorrect since they
are subject to risks and uncertainties that affect us. We disclaim any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, except as required by applicable securities legislation.
Unless otherwise indicated, all amounts are in Canadian dollars.
Audited consolidated financial statements, accompanying notes and MD&A
are available on www.mediagrif.com and have been filed with SEDAR at the following address: www.sedar.com.
SOURCE: MEDIAGRIF INTERACTIVE TECHNOLOGIES INC.
For further information:
Mediagrif InteractiveTechnologies Inc.
President and Chief Executive Officer
Tel.: 450-449-0102 ext. 2004
Toll Free: 1 877 677-9088 ext. 2004
Chief Financial Officer
Tel.: 450-449-0102, ext: 2135
Toll Free: 1 877 677-9088 ext. 2135