|By PR Newswire||
|November 13, 2012 06:51 PM EST||
Second quarter highlights:
- Revenues up 20% or $2.5 million to $15.2 million;
- EBITDA reached 43% of revenues or $6.5 million, up 44% compared to $4.5 million;
- Operating profit of $5.2 million compared to $3.7 million;
- Profit of $3.4 million or $0.25 per share;
- Repayment of $3.0 million (including $2.0 million in advance) on the term loan.
- Board of Directors declared a quarterly dividend of $0.09 per share payable on January 14, 2013 to shareholders of record at the close of markets on January 3, 2013.
Amendment to credit agreement:
- Amendment to the existing credit agreement to support the Company's growth.
LONGUEUIL, QC, Nov. 13, 2012 /CNW Telbec/ - Mediagrif Interactive Technologies Inc. (TSX: MDF), a world-leading operator of e-commerce solutions, today announced its financial results for the second quarter of fiscal 2013 ended September 30, 2012. Unless indicated otherwise, all amounts are in Canadian dollars.
SUMMARY OF CONSOLIDATED RESULTS
Three months ended
Six months ended
|(in thousands of Canadian dollars, except for numbers related to shares - unaudited)||2012||2011||2012||2011|
|Profit for the period||3,429||3,747||7,062||5,905|
|Earnings per share|
|- Basic & Diluted||0.25||0.27||0.51||0.43|
|Weighted average number of share outstanding (in thousands)|
The income analysis summary takes into consideration the impact of the acquisition of LesPAC network ("LesPAC") completed on November 14, 2011.
RESULTS FOR THE SECOND QUARTER OF FISCAL 2013
For the second quarter of fiscal 2013, revenues totalled $15.2 million, an increase of 19.7% or $2.5 million compared to the second quarter of fiscal 2012 revenues of $12.7 million.
The revenue increase is explained by the addition of revenues from LesPAC for $3.1 million, partly offset by a decrease in revenues, in original currencies, in certain subsidiaries, amounting to a net amount of $0.4 million. Moreover, the changes in the value of the Canadian dollar compared to the U.S. dollar, combined with currency hedge in place, generated a negative impact on revenues of $0.1 million during the second quarter of fiscal 2013.
Total operating expenses of the second quarter of fiscal 2013, including cost of revenues, reached $10.0 million, compared to $9.0 million for the second quarter of fiscal 2012. The increase in operating expenses is mainly due to the addition of LesPAC activities for $1.8 million during the second quarter while operating expenses of the other subsidiaries decreased by a net amount $0.8 million as a result of lower salaries and professional services, a decrease in the bad debt expense and additional tax credits.
EBITDA totalled $6.5 million or 42.8% of revenues compared to $4.5 million or 35.2% of revenues during the second quarter of fiscal 2012.
Profit reached $3.4 million ($0.25 per share), compared to $3.7 million ($0.27 per share) recorded during the second quarter of fiscal 2012. Profit for the second quarter of fiscal 2013 includes a foreign exchange loss of $0.3 million while the Company recorded a foreign exchange gain of $1.2 million during the second quarter of fiscal 2012.
RESULTS FOR THE FIRST SIX MONTHS OF FISCAL 2013
For the first six months of fiscal 2013, revenues totalled $31.1 million, an increase of 22.9% or $5.8 million, when compared to the first six months of fiscal 2012 revenues of $25.3 million.
The increase is explained by the addition of revenues from LesPAC for $6.7 million, partly offset by a decrease in revenues, in original currencies, in certain subsidiaries, amounting to a net amount of $0.6 million. Moreover, the changes in the value of the Canadian dollar compared to the U.S. dollar, combined with currency hedge in place, generated a negative impact on revenues of $0.2 million during the first six months of fiscal 2013.
Total operating expenses of the first six months of fiscal 2013, including cost of revenues, reached $20.9 million, compared to $18.4 million for the first six months of fiscal 2012. The increase in operating expenses is mainly due to the addition of LesPAC activities for $3.8 million during the first six months while operating expenses of the other subsidiaries decreased by a net amount $1.2 million as a result of lower salaries and professional services and additional tax credits.
EBITDA totalled $12.6 million or 40.7% of revenues compared to $8.5 million or 33.4% of revenues during the first six months of fiscal 2012.
Profit reached $7.1 million ($0.51 per share), compared to $5.9 million ($0.43 per share) recorded during the first six months of fiscal 2012.
CASH FLOW AND FINANCIAL POSITION
During the second quarter of fiscal 2013, operating activities generated $5.7 million of cash flows compared to $3.6 million for the corresponding period of fiscal 2012.
The Company used a portion of these funds and a portion of its cash and cash equivalents to repay an amount of $3.0 million on the term loan during the second quarter of fiscal 2013. As at September 30, 2012, a total of $11.0 million (including an amount of $8.0 million in advance) had been repaid on the $40.0 million Term Loan that was put in place to fund the acquisition of LesPAC.
As at September 30, 2012, the Company had $5.8 million of cash and cash equivalents and $16.0 million available on its revolving credit facility of $20.0 million.
During the first six months of fiscal 2013, operating activities generated $8.0 million of cash flows compared to $3.8 million for the first six months of fiscal 2012.
The credit agreement signed on November 10, 2011 with the National Bank of Canada and the Bank of Nova Scotia was amended on November 13, 2012, allowing the Company to consolidate its existing term loan and revolving facility into a single revolving credit facility, to increase its borrowing capacity thereunder and the existing accordion loan of $25.0 million.
The amended credit agreement now provides for a revolving facility of $60.0 million, including an accordion loan of $40.0 million, which is subject to lenders' acceptance. Conditions attached to the original credit agreement remain unchanged except for conditions related to the term loan, including the obligation to make mandatory quarterly instalments, which now cease to apply.
The Board of Directors of Mediagrif approved and declared a quarterly dividend of $0.09 per share payable on January 14, 2013, to shareholders of record at the close of markets on January 3, 2013.
About Mediagrif Interactive Technologies Inc.
Mediagrif Interactive Technologies Inc. (TSX: MDF) delivers innovative e-commerce solutions to businesses 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, 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.
SOURCE MEDIAGRIF INTERACTIVE TECHNOLOGIES INC.
Thanks to Docker and the DevOps revolution, microservices have emerged as the new way to build and deploy applications — and there are plenty of great reasons to embrace the microservices trend. If you are going to adopt microservices, you also have to understand that microservice architectures have many moving parts. When it comes to incident management, this presents an important difference between microservices and monolithic architectures. More moving parts mean more complexity to monitor an...
Feb. 24, 2017 01:45 AM EST Reads: 1,444
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, Sandy Ca...
Feb. 24, 2017 01:45 AM EST Reads: 9,517
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and micro services. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your contain...
Feb. 24, 2017 01:45 AM EST Reads: 3,761
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Feb. 24, 2017 01:00 AM EST Reads: 2,525
We call it DevOps but much of the time there’s a lot more discussion about the needs and concerns of developers than there is about other groups. There’s a focus on improved and less isolated developer workflows. There are many discussions around collaboration, continuous integration and delivery, issue tracking, source code control, code review, IDEs, and xPaaS – and all the tools that enable those things. Changes in developer practices may come up – such as developers taking ownership of code ...
Feb. 23, 2017 10:15 PM EST Reads: 2,590
The rise of containers and microservices has skyrocketed the rate at which new applications are moved into production environments today. While developers have been deploying containers to speed up the development processes for some time, there still remain challenges with running microservices efficiently. Most existing IT monitoring tools don’t actually maintain visibility into the containers that make up microservices. As those container applications move into production, some IT operations t...
Feb. 23, 2017 09:30 PM EST Reads: 904
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
Feb. 23, 2017 06:30 PM EST Reads: 6,291
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
Feb. 23, 2017 05:15 PM EST Reads: 1,166
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and containers together help companies achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of Dev...
Feb. 23, 2017 04:30 PM EST Reads: 5,786
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...
Feb. 23, 2017 03:45 PM EST Reads: 1,664
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Feb. 23, 2017 03:30 PM EST Reads: 1,632
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Feb. 23, 2017 03:00 PM EST Reads: 1,889
TechTarget storage websites are the best online information resource for news, tips and expert advice for the storage, backup and disaster recovery markets. By creating abundant, high-quality editorial content across more than 140 highly targeted technology-specific websites, TechTarget attracts and nurtures communities of technology buyers researching their companies' information technology needs. By understanding these buyers' content consumption behaviors, TechTarget creates the purchase inte...
Feb. 23, 2017 01:15 PM EST Reads: 1,494
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his general session at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore...
Feb. 23, 2017 12:57 PM EST Reads: 598
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Feb. 23, 2017 11:45 AM EST Reads: 1,335
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software securi...
Feb. 23, 2017 11:00 AM EST Reads: 3,455
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions with...
Feb. 23, 2017 10:00 AM EST Reads: 7,255
"We provide DevOps solutions. We also partner with some key players in the DevOps space and we use the technology that we partner with to engineer custom solutions for different organizations," stated Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 23, 2017 07:00 AM EST Reads: 5,990
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, will discuss how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He will discuss how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.
Feb. 23, 2017 06:00 AM EST Reads: 1,454
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Feb. 23, 2017 05:45 AM EST Reads: 820