Datacom Announces Third Quarter 2007 Financial Results
29 November 2007 - 7:38AM
Marketwired
LAVAL, QUEBEC (TSX VENTURE: DAT), a Canadian leader in the
design, development and marketing of mission critical vehicle fleet
management and theft prevention and recovery solutions today
announced its financial results for the three-month and nine-month
period ended September 30, 2007.
Third Quarter Growth Highlights:
- 15,000th Mobiguard unit installed;
- During the quarter, the Company added:
- 22 new Mobicom commercial clients;
- 252 Mobicom units were sold
- 667 new Mobilus consumer clients;
- 2,668 new Mobiguard consumer clients;
- 242 new Vigil GPS consumer market units;
- On August 31, 2007, the Company concluded its acquisition of Vigil
Locating Systems Technologies Inc. (Vigil GPS) and did so at the price
and on the date originally planned. The integration efforts are ahead
of plan and we expect synergies to be realized while we also seize on
business growth opportunities. Further, the acquisition has provided
Datacom with an impressive client base in its commercial and consumer
markets, a high-end GPS technological platform and remote surveillance
software which outperforms the competition in the tracking and theft
prevention field.
For the three-month period ended September 30, 2007, the Company
recorded revenue of $2.13 million compared to $1.97 million during
the same period last year, which represents an 8.1% increase in
revenues from 2006 third quarter figures.
For the nine-month period ended September 30, 2007, the Company
reported revenues of $5.8 million versus $5.3 million during the
same period last year. The revenues benefited from the growth in
the customer base that is generating recurring revenues.
For the three-month period ended September 2007, the Company's
recurring revenues continued to grow from the installed client base
and increased by 24.2% year-over-year from $0.71 million in the
third quarter of 2006 to $0.94 million for the same period in 2007.
Recurring revenues represent 42.5% of total revenue to date in 2007
compared to 38.2% of total revenue generated in Q3 of fiscal
2006.
As at September 30, 2007 there were 28,230,733 shares
outstanding compared to 900,000 a year ago.
The Company's financial position as at September 30, 2007 is
healthy. Datacom had cash and cash equivalents of $7.27 million,
compared to $0.615 million a year ago.
"We are pleased with the continuous growth of our recurring
revenue stream," noted Pierre Collins, President and CEO of
Datacom. "Following the success of our first acquisition, we will
continue to seek business development through accretive
acquisitions and organic growth. We plan to enhance our product
offering, expand our customer base and geographic coverage, that
will result in increased revenues and earnings in the periods to
come."
About Datacom Wireless Corporation:
Founded in 1999, Datacom has grown to become one of the Canadian
leaders in the design, development and marketing of mission
critical vehicle fleet management and theft prevention and recovery
solutions. Its products and services use wireless communications
and satellite-based tracking technologies (GPS) and a
state-of-the-art ASP information portal.
Datacom offers a portfolio of products and services for both
commercial and consumer markets. Mobicom(TM) solutions enable fleet
managers to view and track, 24-7 and in real-time, their vehicles
on a virtual map in addition to generating valuable internal
reporting data. Mobilus(TM) is a theft deterrent, detection and
stolen vehicle recovery system that permits real-time tracking and
recovery. Based on the Internet, this system enables the users to
track their vehicles at all times. Mobiguard(TM) is a stand-alone
wireless immobilizer for theft prevention and possesses a
revolutionary technology that immobilizes a vehicle by disabling
the starter circuit when a remote is not activated at the moment of
ignition. For further information, visit www.datacom.com.
Forward-Looking Statements:
This press release includes certain statements that may be
deemed "forward-looking statements". Forward-looking statements are
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate", and other
similar words, or statements that certain events or conditions
"may" or "will" occur. All statements in this release, other than
statements of historical facts, that address future events or
developments that the Company expects or anticipates, are
forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices and general
economic, market or business conditions. There can be no assurance
that forward-looking statements will prove to be accurate, as
results and future events could differ materially from those
anticipated statements. The Company undertakes no obligation to
update forward-looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to
place undue reliance on forward-looking statements.
All trademarks and brands mentioned in this release are the
property of their respective owners.
Contacts: DATACOM Lyne Barbeau Director of Communications (450)
781-6002 Email: lbarbeau@datacom.com Website: www.datacom.com GENOA
Management Limited Ali Mahdavi Partner (416) 962-3300 Email:
amahdavi@genoa.ca
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