Futura Loyalty Group Reports Third Quarter 2011 Financial Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 11/30/11 -- 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 nine-month periods ended September 30, 2011.
For the three-month period ended September 30, 2011 revenues increased by 35% to $505,556 versus $373,604 during the corresponding period in 2010. Gross profit amounted to $304,780, or 60% of sales during the third quarter of 2011, representing a 49% increase compared to the same period last year. Earnings before interest, taxes depreciation and amortization ("EBITDA") for the three-month period ended September 30, 2011 was negative $263,194 in comparison to an EBITDA of negative $288,261 for the same period of 2010. This represents an improvement of 9% in EBITDA, despite the fact that during the quarter, Futura ramped up expenses in conjunction with its US expansion and marketing to car dealers in Canada, with the revenue benefits of these investments not expected to be material until 2012. The net loss for the three-month period ended September 30, 2011 was $429,333 in comparison to a net loss of $454,079 for the same period of 2010.
In Canada, the main driver of revenue continues to be increased issuance of branded loyalty reward currency. Third quarter 2011 was the second quarter in which the Company recognized revenue from new car dealers and the Company expects this business segment to be a significant driver of future growth.
With regards to the Company's US expansion, during the quarter, Futura entered into an agreement with Points International to resell Points' Air Incentives product which features three of the top four frequent flyer programs in the US market. Futura is now beginning to recruit new car dealers and automotive service retailers in select markets with a view to launching its first merchants in the first quarter of 2012.
For the nine-month period ended September 30, 2011, revenues increased by 29% to $1,472,707, from $1,140,494 in the nine month period ended September 30, 2010. Gross profit amounted to $803,734, or 55% of sales during the nine-month period ended September 30, 2011, representing a 26% increase compared to the same period last year. EBITDA for the nine-month period ended September 30, 2011 was negative $738,421, in comparison to negative $1,085,099 for the same period of 2010, representing a 32% improvement. The net loss for the nine-month period ended September 30, 2011 was $1,115,290, in comparison to a net loss of $1,545,736 for the same period of 2010.
Revenue from the resale of branded loyalty reward currency and increased breakage, combined with reduced 2011 operating expenses, despite the Company incurring expenses for its US expansion in the third quarter, accounted for a significant portion of the improvements in EBITDA losses.
"We are encouraged by the growth in auto dealer program as the Company has now signed up 85 new car dealers and launched 77. I am equally encouraged with the progress we have made in the US market, as I see this as being a material driver of growth for the Company as we are able to leverage our experience and technology. We are also exploring other sales lead arrangements with companies that are already selling into the relevant US market verticals which we believe will help accelerate our entrance into the US" said Mark Farrell, President and CEO of Futura.
To review the Company's complete third 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 The 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: 30.11.2011 - 07:35 Uhr
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News-ID 1061632
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