Immunotec Reports Second Quarter Results
U.S. Network sales up 25%
(firmenpresse) - VAUDREUIL-DORION, QUEBEC -- (Marketwired) -- 06/12/15 -- Immunotec Inc. (TSX VENTURE: IMM), a direct-to-consumer company and a leader in the nutritional industry (the "Company" or "Immunotec"), today announced its consolidated financial results for the second quarter of Fiscal 2015. All amounts in this press release are denominated in Canadian dollars unless otherwise indicated.
"During the 2nd quarter, the Company welcomed nearly 4,000 Consultants and guests to conventions and other meetings in Canada, the United States and Mexico to learn about new products and programs and be recognized for their personal and team accomplishments", said Charles L. Orr, Chief Executive Officer of Immunotec. "We have set the stage for growth during the Spring and Summer months", added Mr. Orr.
DEVELOPMENTS DURING THE PERIOD
PERFORMANCE HIGHLIGHTS
Revenues for the three- and six-month periods ending April 30, 2015 reached $20.0M and $37.9M compared to $19.1M and $35.2M in the previous year, an increase of $0.9M or 4.8% and $2.7M or 7.6%. This growth was generated mostly by increased sales in the United States.
"The recent volatility in currencies is causing businesses worldwide to review their supply chain strategies," said Mr. Patrick Montpetit, Chief Financial Officer. "Subsequent to the end of April, we secured additional financing to support strengthening our supply chain".
Adjusted EBITDA(1) for the three- and six-month periods ended April 30, 2015 amounted to $1.4M or 7.0% and $2.5M or 6.6% of revenues compared to $1.4M or 7.4% and $2.2M or 6.2% in the same period the previous year.
Net profit for the three- and six-month periods ended April 30, 2015 was $0.3M and $1.2M compared to $0.8M and $1.5M for the same period in the previous year.
(1) Refer to the "NON-GAAP MEASURES" section. The definition of Sponsoring and the Adjusted EBITDA reconciliation to Net (loss) 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 primarily in Canada, the U.S. and Mexico. The Company offers an extensive family of nutritional products targeting health, wellness, weight management, as well as energy and performance. The Immunocal family of products is supported by over 40 published articles and supporting science in medical and scientific literature.
Please visit us at for additional information.
The Company files its continuous disclosure documents inclusive of its second quarter 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.
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 and Analysis, Annual Informat ion Form and Preliminary Short Form Prospectus, 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 a n 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:
Patrick Montpetit CPA, CA, CF
Vice-President and Chief Financial Officer
Immunotec Inc.
(450) 510-4527
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Datum: 12.06.2015 - 15:44 Uhr
Sprache: Deutsch
News-ID 1365670
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