Snipp Interactive Inc. Reports Q1 2016 Financial Results
(firmenpresse) - WASHINGTON, DC -- (Marketwired) -- 05/30/16 -- Snipp Interactive Inc. ("Snipp") (TSX VENTURE: SPN)(OTCQX: SNIPF), an international provider of marketing promotions, rebates and loyalty solutions, is pleased to announce its financial results for Q1 2016, ended March 31, 2016. All results are reported under International Financial Reporting Standards ("IFRS") and in US dollars. A copy of the complete unaudited interim financial statements and management''s discussion and analysis are available on SEDAR (). Exchange rates used for USD to CAD conversions are listed at the end of the press release.
Fiscal Q1 2016 Quarterly Financial Summary
(Refer to Non-GAAP Measures, Gross Margin discussion below)
Q1 2016 Corporate Highlights
"We kicked off this year on a very positive note as we took another step towards becoming the embedded promotions partner of our Fortune 500 clients via longer term, recurring revenue contracts," said Atul Sabharwal, CEO of Snipp. "The stickiness of these contracts cannot be underestimated, because they show a willingness by some of the largest companies in the world to use our platform for extended periods of time across multiple promotions windows. As we build these relationships, we continue to enhance and expand our platform, giving these customers more tools and reasons to remain loyal to Snipp."
Non-GAAP Measures
Snipp uses certain performance measures throughout this document that are not recognizable under Canadian generally accepted accounting principles or IFRS ("GAAP"). These performance measures include Gross Margin. Management believes that these measures provide supplemental financial information that is useful in the evaluation of the Company''s operations.
Investors should be cautioned, however, that these measures should not be construed as alternatives to measures determined in accordance with GAAP and IFRS as an indicator of Snipp''s performance. The Company''s method of calculating these measures may differ from that of other organizations, and accordingly, these may not be comparable.
Gross Margin
Snipp defines Gross Margin as revenue less campaign infrastructure. The Company''s calculation of Gross Margin is not a financial measure that is recognized under GAAP. Investors should be cautioned that the Company''s defined Gross Margin should not be construed as an alternative measure to other measures determined in accordance with GAAP.
The following are calculations of Gross Margin:
Exchange rates used for USD to CAD based on Bank of Canada rates:
1.3725 Quarter ended March 31, 2016 (average)
1.2412 Quarter ended March 31, 2015 (average)
1.2987 as at March 31, 2016
For More Information
In conjunction with this announcement, Snipp management will be holding a conference call on Tuesday May 30, 2016, at 12:00 P.M. (noon) Eastern Standard Time to discuss the Company''s quarterly results for Q1 2016.
Q1 2016 QUARTER END CONFERENCE CALL DETAILS:
The live conference call may also be accessed on the company website and via the following link:
Please dial in approximately 15 minutes prior to the start of the call.
A replay of this call will be available from Tuesday May 31, 2016 3:00 PM - Friday, June 3, 2016 3:00 PM (all times are Eastern). Replay Passcode: 4523586
Participants may register for the replay dial in number at:
About Snipp:
Snipp''s incentive marketing technology platform enables brands and retailers to drive customer engagement and purchase. Our solutions include loyalty, rebates, promotions, rewards and data analytics. SnippCheck, Snipp''s unique receipt processing engine is now the market leader for receipt-based purchase validation, having powered several hundred programs for leading Fortune 500 brands and world-class agencies and partners. 99% of all households in the United States have been exposed to our programs.
Snipp is headquartered in Washington, DC with offices across the United States, Canada, UK, Ireland, Europe, the Middle East and India. The company is publicly listed on the OTCQX, the highest tier of the OTC market in the United States of America, and on the Toronto Stock Venture Exchange (TSX) in Canada. Snipp was selected to the TSX Venture 50®, an annual ranking of the strongest performing companies on the TSX Venture Exchange, in 2015 and 2016.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as changes in demand for and prices for the products of the Company or the materials required to produce those products, labor relations problems, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. The reader is cautioned not to put undue reliance on such forward- looking statements.
Neither the 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.
Copyright Snipp Interactive Inc. All rights reserved. All other trademarks and trade names are the property of their respective owners.
Contacts:
MKR Group, Inc.
Todd Kehrli / Mark Forney
d: 323-205-4336
m: 310.625.4462
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Datum: 30.05.2016 - 20:44 Uhr
Sprache: Deutsch
News-ID 1438224
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