Futura Loyalty Group Reports Second Quarter 2011 Financial Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 08/30/11 -- The Futura Loyalty Group Inc. (TSX VENTURE: FUT) ("Futura" or the "Company"), a Canadian leader in the loyalty industry, today announced its financial results for the three and six month periods ended June 30, 2011.
For the three-month period ended June 30, 2011, revenues increased by 19% to $563,833 versus $474,453 during the corresponding period in 2010. Excluding breakage revenue from the Futura Rewards Program, revenues increased by 40% during the second quarter of 2011 versus the same period last year. Gross profit amounted to $286,496, or 51% of sales during the second quarter of 2011, representing a 43% increase compared to the same period last year. As a result, earnings before interest, taxes depreciation and amortization ("EBITDA") for the three-month period ended June 30, 2011 was negative $264,814 in comparison to an EBITDA of negative $379,742 for the same period of 2010, representing a 30% improvement. The net loss for the three-month period ended June 30, 2011 was $421,226 in comparison to a net loss of $512,442 for the same period of 2010.
The main driver of revenue continues to be increased issuance of branded loyalty reward currency. Second quarter 2011 was the first quarter in which the Company started to recognize revenue from new car dealers. Very few dealers were ramped up yet in the quarter, however, the Company expects this business segment to be a significant driver of future growth.
During the second quarter of 2011, the Company started signing up new car dealers as customers in conjunction with a multi-year agreement with The Toronto Automobile Dealers Association (TADA), enabling TADA's 340 dealer-members to offer third party currency to consumers on the purchase or service of vehicles.
For the six-month period ended June 30, 2011, revenues increased by 26 % to $967,151 from $766,980 in the six month period ended June 30, 2010. Excluding breakage revenue from the Futura Rewards Program, revenues increased 37% in the first half of 2011 compared to the first half of 2010. EBITDA for the six-month period ended June 30, 2011 was negative $475,227, in comparison to an EBITDA loss of $796,836 for the same period of 2010, representing a 40% improvement. Revenue from the resale of branded loyalty reward currency combined with reduced 2011 operating expenses accounted for a significant portion of the improvements in EBITDA losses. The net loss for the six-month period ended June 30, 2011 was $685,957, in comparison to a net loss of $1,091,657 for the same period of 2010.
"We were extremely pleased to see the reception we received from new car dealers in the quarter, as we signed up 47 dealers and launched 32 dealers in the quarter. Due to the timing of these launches, revenue from dealers in the quarter was marginal, however, we are expecting the new auto dealer segment to be a major driver of growth for the Company over the remainder of the year and into 2012," stated Mark Farrell, President and CEO of Futura.
To review the Company's complete first quarter financial statements, please visit or .
About Futura Loyalty Group
The Futura Loyalty Group Inc. is an industry-leading provider of branded loyalty reward currencies, private branded loyalty programs and targeted marketing solutions using email, mobile, direct mail and the web. Futura's loyalty services include member account set up, management and reward redemption platform, a web-based program transaction reporting interface for merchants, a robust offer management system, retail POS Integration for card swipe issuance and a proprietary web based issuance solution. For more information regarding Futura Loyalty Group, visit .
"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."
Contacts:
The Futura Loyalty Group Inc.
David Campbell
Chief Financial Officer
416-775-3161
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Datum: 30.08.2011 - 06:00 Uhr
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