TORONTO, Oct. 3, 2013 /CNW/ - Posera-HDX Ltd. (TSX: HDX) (the "Company" or "Posera-HDX") announced today its preliminary revenue estimates for the three and nine-months ended September 30th, 2013. Posera-HDX is listed on the TSX under the symbol "HDX".
Paul Howell, Chief Executive Officer, reports:
The Company's strong performance in fiscal 2013 continued and accelerated in the third quarter of 2013. The Company expects revenue for the three-months ended September 30, 2013 to be in the range of $4,970,000 to $5,260,000, compared to $4,032,574 for the three-months ended September 30, 2012 and $4,305,530 for the three-months ended June 30, 2013 which would represent an increase in revenue in the range of 23% to 31% over third quarter 2012 revenue and 15% to 21% over second quarter 2013 revenue. This translates to revenue for the nine-months ended September 30, 2013 being in the range of $13,370,000 to $13,660,000, compared to $11,908,578 for the nine-months ended September 30, 2012, an increase in revenue in the range of 12% to 22% over the comparable 2012 period.
These unaudited preliminary revenue estimates are, in accordance with normal procedures, subject to further review procedures and completion by the Company and its auditors.
The preliminary revenue estimates for the three and nine-months ended September 30, 2013 are being disclosed as the Company is in discussions regarding proposed terms of a private placement of equity securities and subordinated debt (collectively the "Financing"). A portion of the net proceeds of such a Financing, if completed, would be used to complete the proposed acquisition of Zomaron Inc., operating as Zomaron Merchant Services ("Zomaron"), which the Company anticipates will close during the fourth quarter of 2013. The balance of the net proceeds of the potential Financing would be used for working capital purposes and other general corporate purposes.
The Company expects to file its unaudited interim financial statements for the three and nine-months ended September 30, 2013 in the normal course. The Company does not expect to provide further or updated preliminary guidance in advance of the final results for the three and nine-months ended September 30, 2013. Further, the Company does not intend to release preliminary financial results on a continuing basis in future periods.
As announced in April 2013, the Company has signed a letter of intent to acquire Zomaron. Founded in 2008, Zomaron provides credit and debit card processing solutions to Canadian merchants nationwide. Based in London, Ontario, Zomaron has offices in Edmonton AB, Toronto ON, and Montreal QC. Through its nation-wide network of sales representatives and strategic partnerships, Zomaron has experienced rapid growth, doubling its sales annually. Zomaron's exponential growth led it to be ranked on PROFIT magazine's 13th and 14th annual PROFIT HOT 50 ranking released in October 2012 and 2013 issues respectively. Zomaron's solutions and services can also be marketed and deployed in the United States.
Additional information on Posera- HDX is available in the financial reports filed by the Company with SEDAR at www.sedar.com and posted to the Investor Relations section of the Company's website at www.hdxsolutions.com.
About the Company
Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.
Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and "line buster" mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.
Posera-HDX Limited develops, deploys, and supports a restaurant point-of-sale software know as "Maitre'D" which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 97 value added reseller partners in 25 countries with approximately 550 representatives selling, supporting & installing its software. Posera-HDX employs approximately 135 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France).
This press release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera-HDX's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Annual Information Form filed on March 28th, 2013 with the regulatory authorities. Posera-HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
For further information:
Chief Executive Officer
Posera-HDX Limited (HDX)
350 Bay Street, Suite 700
Toronto, Ontario M5H 2S6
(416) 703-6462 ext. 2263