VANCOUVER, July 13, 2015 /CNW/ - Tinkerine™ Studios Ltd. (TSXV: TTD, FSE: WKN WB6B and OTC: TKSTF)
Focus, Progress and Execution
My co-founders and I founded Tinkerine Studios because we believed that building a personal fabrication product and associated services that would allow people to bring to life ideas they never could, would improve people's lives, and enhance the world's innovations. We are delighted in the way people and institutions have used our technology to facilitate the thinking of 3D design and fabrication to bring ideas to reality.
We are always looking towards doing better for our users. Performing at our best matters at Tinkerine as we are making strides to make sure that each improvement is going to move the 3D printing industry and us in the right direction.
We have made good progress in the first half of 2015 with our business growth and overall traction. Our focus on education through Tinkerine U continues to be our main effort. We provide students, teachers, and businesses with the knowledge to integrate 3D printing technology into their work or everyday life through a series of projects, tutorials, workshops, and STEAM (Science, Technology, Engineering, Arts and Mathematics) based content. This set the foundation, in conjunction with our channels partners, for our move into the educational sector seamlessly and successfully. Our dedication to building these strong relationships continues to return solid results to us on the hardware sales front.
What an educational focus means for us is the specific understanding that knowledge is key moving forward. At Tinkerine we concentrate on the long term by investing in technology and service that will make a significant impact over time. Tinkerine U is one of those services and we recognize that strong partners will complement and speed our growth. In particular, those partners that complement our vision of getting the knowledge into the hands of users. Moving in this direction in Q2 2015, we completed a software integration with Adobe Systems. Bringing the DittoTM Pro 3D printer into the Photoshop Creative Cloud software suite is opening the doors for professionals to leverage their existing work-flow for 3D printing technology. It doesn't end there. With regular webinars and workshops we will guide users through the usage of this technology. Partnerships with major companies like Adobe are a key part of our business expansion strategy moving forward.
Over the later parts of 2014 and early 2015, our emphasis on building out our channel program alongside our direct sales efforts was a key initiative. The inclusion of a channels program has taken hold with dealers now reordering regularly and we expect the proportion of sales that go through channels partners to continue to increase in future quarters. Our dealers currently cover Canada (West and East), parts of the USA, northern Asia Pacific (Hong Kong and Taiwan), the Middle East, and part of India. We have plans to further expand our number of channel partners and geographic coverage in Q3 and Q4 2015, filling in certain USA regions, establishing further progress in the northern Asia Pacific region including China and Japan, Southeast Asia down to Australia and Europe.
Coinciding with sales and channel expansion, production expansion has similarly been put in motion with capacity to meet 750 to 900 units a quarter from our current facility. With channels partners input, we are able to gain clarity to our sales funnel and scale our production accordingly.
Sales for Q2 2015 (see cautionary notes below) were $330,000 growth of approximately three times Q1 2015 or six times Q2 2014 comparatively. 60% of sales went through our channels program for Q2 2015, up from 49% in Q1 and 40% in Q4 2014 with the balance of sales occurring from our direct sales efforts.
Filament made up 11% of Q2 2015 sales, up from 10% in Q1, a trend we expect to continue as our customer base/installed base of Ditto 3D printers grows.
Significantly, at the International Consumer Electronics Show Asia 2015, held in Shanghai in early June, Tinkerine's Ditto Pro desktop printer was recognized as the best 3D printer at the show. Our hardware, especially when combined with our software and Tinkerine U digital content platform, is increasing being recognized for setting the standard for ease of use, reliability, and high performance for desktop 3D printers.
We have much to accomplish in the second half of 2015 and into 2016. We believe the business ramp up steps we have put in place in the first half of 2015 position us well for further growth.
Eugene Suyu, CEO
Readers are cautioned sales information is unaudited and the Company's financial statements for the three months ended June 30, 2015 are targeted to be released on or about August 14, 2015 and such sales information could be subject to revision.
Certain information in this news release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Tinkerine 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 unless and until required by securities laws applicable to Tinkerine. Additional information identifying risks and uncertainties is contained in Tinkerine's filings with the Canadian securities regulators available at www.sedar.com.
Tinkerine and Ditto are registered trademarks of Tinkerine Studios Ltd., all rights reserved.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Tinkerine Studios Ltd.
For further information: Tinkerine Studios Ltd: John Ross, 778.322.0445, [email protected]