OTTAWA, July 30, 2013 /CNW/ - Ackroo Inc. (TSX-V: AKR) (the "Company"), a loyalty and rewards technology and services provider, today announced that it has filed financial results for Ackroo Inc. for the three months ended June 30, 2013.
The results for the three months ended June 30, 2013 reflect revenue growth of 52% over the same period last year. During this period, Ackroo continued to expand its operations and focus on increasing market penetration of its web-based loyalty platform, which enables merchants, franchises and business networks to increase profitability and build long-term customer relationships through customized loyalty and rewards programs.
"The record results for this quarter show we continue to accelerate our plan with 52% growth year-over-year," said Eamonn Garry, chief executive officer at Ackroo. "We have doubled our local merchant revenue this quarter and increased our merchant footprint to over 400 locations. With our differentiated product solution and proven market demand we are accelerating the expansion of our sales force to take advantage of the significant market opportunity across Canada. In addition, we are continuing to advance our technology platform which includes software integration with the latest payment processing terminals as well as expanding our coalition loyalty offering into business networks."
The complete financial results for Ackroo are available at www.sedar.com. Highlights include:
- Sales of $290,259 for the three month period ended June 30, 2013 as compared to $191, 391 for the three month period ended June 30, 2012;
- Gross Profit of $189, 572 for the three month period ended June 30, 2013 as compared to $135, 561 for the three month period ended June 30, 2012;
- Loss from operations before depreciation, amortization, and stock based compensation was $701,608 for the three month period ended June 30, 2013 as compared to $703,816 for the three month period ended June 30, 2012;
- Comprehensive loss of $949,370, or $0.02 per share, for the three month period ended June 30, 2013 as compared to $764,462, or $0.02 per share, for the three month period ended June 30, 2012;
Currently, Ackroo has 57,144,133 common shares outstanding.
Ackroo enables small to medium sized businesses, independent merchants and business networks to increase profitability and build long-term customer relationships through customized loyalty and rewards programs. Their web-based solutions provide the power of a massively scalable software platform in a lightweight online tool that works with existing point-of-sale equipment, making it easy and affordable for businesses of any size to design and launch their own five-star loyalty program. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains statements that may constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation. These forward-looking statements include, among others, statements regarding business strategy, plans and other expectations, beliefs, goals, objectives, information and statements about possible future events. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Ackroo Inc. and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits Ackroo will derive there-from.
SOURCE: Ackroo Inc.
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