Immunotec Reports Third Quarter Results
Record Revenues of $28.4M or 28.6%
(firmenpresse) - VAUDREUIL-DORION, QUEBEC -- (Marketwired) -- 09/16/16 -- Immunotec Inc. (TSX VENTURE: IMM), a direct-to-consumer company and leader in the nutritional industry (the "Company" or "Immunotec"), today announced its third quarter financial results for Fiscal 2016. All amounts in this press release are denominated in Canadian dollars unless otherwise indicated.
QUARTERLY PERFORMANCE HIGHLIGHTS
"We are pleased by the Revenue growth for the fiscal year but our profitability was affected by the recent devaluation of the Mexican Peso," said Patrick Montpetit, Chief Financial Officer of Immunotec. "Looking at results, on a currency neutral basis, we estimate our profits have been reduced by approximately $1.0 M for the Quarter."
"We maintain our guidance to exceed $100M in Revenues for the full fiscal year, but are concerned that profitability will remain impacted during the Fourth quarter from further deterioration in the Mexican Peso. Management has initiated a review the currency risk exposure and will work to find mitigating solutions to this new economic reality," said Patrick Montpetit, Chief Financial Officer of Immunotec.
(1) Refer to the "NON-GAAP MEASURES" section. The definition of Sponsoring and the Adjusted EBITDA reconciliation to Net profit is shown below.
About Immunotec Inc.
Immunotec is a Canadian-based company that develops, manufactures, markets and sells research-driven nutritional products through direct-to-consumer sales channels in Canada, the U.S., Mexico, the Dominican Republic, the United Kingdom and Ireland. The Company offers an extensive family of nutritional, skin care and wellness products targeting health, weight management, energy and physical performance.
Please visit us at for additional information.
The Company files its continuous disclosure documents, inclusive of its year end results, on the SEDAR database at and on the Company's website at . The common shares of the Company are listed on the TSX Venture Exchange under the ticker symbol IMM. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This Press Release should be read in conjunction with the Company's most recent unaudited interim condensed consolidated financial statements and the Management discussion and analysis which can be found at .
CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
Certain statements contained in this news release are forward looking and are subject to numerous risks and uncertainties, known and unknown. For information identifying known risks and uncertainties and other important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the heading Risks and Uncertainties in Immunotec's most recent Management's Discussion, which can be found at . Consequently, actual results may differ materially from the anticipated results expressed in these forward-looking statements.
NON-GAAP MEASURES:
This Press Release contains non-GAAP measures which do not have a standardized meaning under International Financial Reporting Standards ("IFRS"). We use earnings before interest, taxes, depreciation and amortization ("EBITDA"), as this measure allows management to evaluate the operational performance of the Company. EBITDA does not have any standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other issuers. EBITDA should not be considered an alternative to profit (loss) in measuring the Company's performance, nor should it be used as an exclusive measure of cash flow. This measure does not represent the funds available for the repayment of debt, the payment of dividends, reinvestment or other discretionary uses, and should not be considered in isolation or as substitutes for other measures of performance calculated according to IFRS. The Company uses these non-GAAP measures because they provide additional information on the performance of its commercial operations. Such tools are frequently used in the business world to analyze and compare the performance of businesses; however, the Company's definition of these metrics may differ from those of other businesses.
Adjusted EBITDA and Sponsoring
Contacts:
Immunotec Inc.
Patrick Montpetit, CPA, CA, CF
Vice-President and Chief Financial Officer
(450) 510-4527
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Unternehmensinformation / Kurzprofil:
Datum: 17.09.2016 - 01:34 Uhr
Sprache: Deutsch
News-ID 495306
Anzahl Zeichen: 0
contact information:
Town:
VAUDREUIL-DORION, QUEBEC
Kategorie:
Health & Nutrition
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