LANGLEY, BRITISH COLUMBIA -- (August 14,
2013) Iplayco Corporation Limited (TSX
VENTURE: IPC) ("Iplayco" or the "Corporation") announces its
financial results for the third quarter ended June 30, 2013. All
amounts are in Canadian dollars unless otherwise noted.
This news release
contains financial information derived from Iplayco's unaudited
condensed consolidated interim financial statements for the three
and nine months ended June 30, 2013. More detailed information can
be found in the unaudited condensed consolidated interim financial
statements and Management's Discussion and Analysis for the three
and nine months ended June 30, 2013, which are being filed with the
applicable Canadian regulatory authorities.
"We are very pleased
to announce the best operating results in our 14 year history. Our
consolidated sales increased by 95.5% for the three months ended
June 30, 2013 ("Q3-13") to $4,781,030 from
$2,446,089 for the three months ended June 30, 2012
("Q3-12"), with sales by our Manufacturing
operations up 110.5% and sales by our Family
Entertainment Centre operations down 0.2% in Q3-13 as compared to
Q3-12. Our gross profit percentage increased to 40.5% of sales in
Q3-13 from 35.2% in Q3-12, due to higher margins on larger
orders. Although we are expecting a moderate
decrease in sales and earnings for the three months ended September
30, 2013 as compared to Q3-13, our sales backlog remains high"
said Scott Forbes, President and Director of
Iplayco.
Sales by our
Manufacturing operations generated 93.1% of our total sales in
Q3-13, compared to 86.4% in Q3-12, and increased by
110.5% to $4,449,413 in Q3-13
from $2,113,724 in Q3-12. Sales by our Family
Entertainment Centre Operations generated 6.9% of our total sales
in Q3-13, compared to 13.6% in Q3-12 and decreased by 0.2% to
$331,617 in Q3-13 from $332,365 in Q3-12.
Results for the three months ended June 30,
2013 ("Q3-13") as compared to the three months ended June 30, 2012
("Q3-12")
Sales increased by 95.5% to
$4,781,030 in Q3-13 from $2,446,089 in Q3-12. Gross profit
percentage was 40.5% of sales in Q3-13 compared to 35.2% in Q3-12.
Operating expenses, including foreign exchange gains and losses and
finance costs, were $1,080,054 or 22.6% of sales in Q3-13 compared
to $888,367 or 36.3% of sales in Q3-12. Net income in Q3-13 was
$642,629, or diluted net income per share of $0.06, compared to a
net loss of $20,825, or net loss per share of $0.00, in Q3-12.
Results for the three months ended June 30,
2013 ("Q3-13") as compared to the three months ended March 31, 2013
("Q2-13")
Sales increased by 48.3% to
$4,781,030 in Q3-13 from $3,223,754 in Q2-13. Gross profit
percentage was 40.5% of sales in Q3-13 compared to 35.9% in Q2-13.
Operating expenses, including foreign exchange gains and losses and
finance costs, were $1,080,054 or 22.6% of sales in Q3-13 compared
to $900,100 or 27.9% of sales in Q2-13. Net income in Q3-13 was
$642,629, or diluted net income per share of $0.06, compared to net
income of $192,706, or diluted net income per share of $0.02, in
Q2-13.
Results for the nine months ended June 30, 2013
("YTD - Q3-13") as compared to the nine months ended June 30, 2012
("YTD - Q3-12")
Sales increased by 64.5% to
$11,500,279 for YTD - Q3-13 from $6,993,082 for YTD - Q3-12. Gross
profit percentage was 38.6% of sales for YTD - Q3-13 compared to
35.9% for YTD - Q3-12. Operating expenses, including foreign
exchange gains and losses and finance costs, were $2,925,821 or
25.4% of sales for YTD - Q3-13 compared to $2,616,409 or 37.4% of
sales for YTD - Q3-12. Net income for YTD - Q3-13 was $1,135,561,
or diluted net income per share of $0.11, compared to a net loss of
$79,574, or net loss per share of $0.01, for YTD - Q3-12.
ON BEHALF OF THE
BOARD OF DIRECTORS
Scott C. Forbes,
President and Director
About
Iplayco Corporation Limited
Iplayco
designs, manufactures and installs customized indoor and outdoor
play structures for children. Iplayco also owns and operates a
family entertainment centre ("The Great Escape") in Langley,
British Columbia. For more information, please visit
www.iplaycoltd.com.
Cautionary Note Regarding Forward-looking Statements
This news
release contains certain forward-looking statements. All
statements, other than statements of historical fact, included
herein, including without limitation statements regarding the
Corporation's business, results or future plans, are forward
looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ
materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from
the Corporation's expectations are disclosed elsewhere in documents
that are available to the public.
Neither
TSX Venture Exchange, nor its regulation services provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
For more information, please
contact:
Iplayco Corporation
Limited
Max Liszkowski
Chief
Financial Officer and Corporate Secretary
(604)
607-1111
ir@iplayco.com
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