ENGINEERING.com Incorporated Announces Fourth Quarter & Fiscal 2011 Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 04/18/12 -- ENGINEERING.com Incorporated (TSX VENTURE: EGN), developer of the ENGINEERING.com online resource for engineers today announced its financial results for the fourth quarter and year ended December 31, 2011.
ENGINEERING.com revenue was $1,549,389 for the fiscal year 2011, compared to revenue of $1,504,846 for the year 2010. Sales of Internet advertising rose by 15% to $842,344 in 2011 compared to $730,270 for the year ended December 31, 2010. This increase was driven by new content offerings.
Revenue across all products for the three months ended December 31, 2011 was $385,166 compared to $461,905 for the fourth quarter of 2010. The loss for the year ended December 31, 2011 totaled ($206,781) and ($0.01) per Common Share compared with a net income of $78,862 and $0.00 for the same period a year ago.
Operating loss (EBITDA) measured as earnings before interest, taxes, amortization and stock-based compensation, was ($23,862) or $0.00 per Common Share for the fourth quarter of 2011 compared with an operating loss of ($29,670) or $0.00 per Common Share for the three month period ended December 31, 2010. Operating loss for fiscal 2011 was ($169,182) or ($0.00) per Common Share compared to an operating loss of ($261,539) or ($0.01) per Common Share for fiscal 2010. The operating expenses in the latest quarter were $271,102 and for the year were $1,062,513 compared to $299,180 for the fourth quarter a year earlier and $1,146,047 for fiscal 2010.
"During 2011 we expanded on our video offering with the release of two new series, adding Some Assembly Required and Cafe BIM to the already successful Product Design Show," said John Hayes, President of ENGINEERING.com. "That trend continued into the first quarter of 2012 with the release of Engineering Career GPS and the renewal of the Product Design Show for another 35 episodes."
As at December 31, 2011, the Company had a cash balance of $259,014 compared to a cash balance of $78,244 as at December 31, 2010.
About ENGINEERING.com Incorporated
ENGINEERING.com Incorporated (TSX VENTURE: EGN) inspires, informs and entertains a worldwide audience of engineers through the web site and other distribution channels. ENGINEERING.com offers marketing services to manufacturers, technology inventors and engineering academia around the world. The ENGINEERING.com Incorporated head office is located in Mississauga, Ontario, Canada and can be reached toll-free at 1-877-997-9917, by facsimile at 905-273-6691 or through the Internet at .
EBITDA
EBITDA is defined by the Company as operating income before interest expense, income taxes, amortization, stock-based compensation, asset dispositions and provision for discontinued operations. The Company has included information concerning EBITDA because it believes that EBITDA is used by certain investors as one measure of the Company's financial performance. EBITDA is not a measure of financial performance under Canadian generally accepted accounting principles and is not necessarily comparable to similarly titled measures used by other companies. EBITDA should not be construed as an alternative to operating income or to cash flows from operating activities (as determined in accordance with Canadian generally accepted accounting principles) as a measure of liquidity.
Forward Looking Statements
This press release may contain forward-looking statements based on management's current projections, beliefs and opinions at the date of this press release. Actual results could differ materially from those anticipated in these statements. The Company's ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. ENGINEERING.com Incorporated undertakes no responsibility to update forward-looking statements if circumstances or management's projections, beliefs or opinions change.
The contents of this News Release have been reviewed and approved by the Audit Committee and the Board of Directors.
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
ENGINEERING.com, Inc.
John Hayes
President & CFO
905-273-9991, ext. 3280 or Toll Free: 1-877-997-9917
905-273-6691 (FAX)
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Unternehmensinformation / Kurzprofil:
Datum: 18.04.2012 - 20:01 Uhr
Sprache: Deutsch
News-ID 136703
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contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Software
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