Fireswirl Technologies (TSXV:FSW) Reports Significant Revenue Increases for 3rd Quarter- Video News Alert on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, November 19, 2013 - Fireswirl Technologies
(TSXV:FSW) has reported significant revenue increases for the 3rd quarter.
Fireswirl helps major international and local Chinese companies to strategically
expand their market and provides an integrated technology and service platform
for their e-commerce sales in China.
InvestmentPitch.com has produced a "video news alert" about Fireswirl based on
this news. If this link is not enabled, please visit www.InvestmentPitch.com and
enter "Fireswirl" in the search box.
With their advanced technology, industry knowledge and operating experience in
the China market, Fireswirl has helped many international companies such as Toys
"R" Us China, Logitech China, Sony Mobile China, Lego China and Fuji Xerox
China, to successfully open up the fast-growing e-commerce market in the
country.
Total operating revenue increased to $14.6 million, an increase of 127.7% from
the $6.4 million reported in the 3rd quarter of 2012. Total operating expenses
also increased by 127.7% driven by higher purchases and technical service fees
as a result of higher sales volumes coupled with increases in salaries and
benefits. The company reported a comprehensive loss of $186,000 for the 3
months, a slight decrease of 2.5% from the $191,000 reported in the 3rd quarter
of 2012. This resulted in Fireswirl reporting a fully diluted loss per share of
$0.00, identical to the loss in the 3rd quarter of 2012.
Cash and cash equivalents grew to $1.47 million at the end of September, an
increase of 60.4% from December 31, 2012.
Tony Lau, CEO stated, "The company has achieved an important milestone and
experienced a substantial increase in operating revenue during this quarter,
which reflects the rapid growth of e-commerce market in China and the ability of
the company to execute on its growth plan. Our strong growth in sales is a
testament to our strategy of providing e-commerce service to international
brands and collecting a revenue-share service fee is increasingly gaining
momentum and accepted as a proven business model in the market."
The company currently trades at $0.22 and with 50.1 million shares outstanding,
is capitalized at $11 million.
For a more information, please visit the company`s website at www.fireswirl.com,
phone Ji Yoon Interim CFO at 604-540-8805 ext 214 or email jyoon(at)fireswirl.com.
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Unternehmensinformation / Kurzprofil:
Datum: 19.11.2013 - 18:23 Uhr
Sprache: Deutsch
News-ID 318347
Anzahl Zeichen: 3796
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Kategorie:
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