Versatile Reports First Quarter Results
Improved Gross Profit and Reduced Expenses
(firmenpresse) - VANCOUVER, CANADA -- (Marketwire) -- 11/29/12 -- Versatile Systems Inc. (TSX VENTURE: VV) announces its results for the first quarter of the 2013 fiscal year.
Revenue for the three months ended September 30, 2012 was $7,915,848, generating a gross profit of $1,832,779 or 23.2% of sales compared to $9,039,212, generating a gross profit of $1,790,378 or 19.8% of sales for the same quarter last year. The Loss from Operations for the quarter amounted to $329,594 compared to $488,503 for the same quarter last year, an improvement of $158,909. The Net Loss for the quarter amounted to $404,094 ($0.00 per share) compared to the Net Loss of $413,827 ($0.00 per share) for the same period last year.
Highlights for the quarter included:
The research and development expense for the quarter amounted to $236,246 compared to $244,110 for the same quarter last year. During the current quarter, the Company incurred $87,728 for research and development activities related to an iPad application for Mobiquity Sell, Mobiquity Route™ and $106,956 primarily related to Smart Sign™.
About Versatile
Versatile provides business solutions that enable companies to improve sales, marketing and distribution of their products. Versatile also provides information technology services for the implementation, maintenance and security of mission-critical computer environments. Versatile has the ability to architect solutions involving both proprietary and third party components. For more information: .
Forward-Looking Statements
This document may contain forward-looking statements relating to Versatile's operations or to the environment in which it operates, which are based on Versatile's operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond Versatile's control. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. Versatile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
All amounts are expressed in U.S. dollars unless otherwise stated. © 2012 Versatile Systems Inc. All rights reserved.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Versatile Systems Inc.
John Hardy
Chairman and CEO
1-800-262-1633 or International: 001-206-979-6760
Versatile Systems Inc.
Fraser Atkinson
CFO
1-800-262-1633
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Datum: 29.11.2012 - 22:00 Uhr
Sprache: Deutsch
News-ID 208346
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contact information:
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VANCOUVER, CANADA
Kategorie:
Networking
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