VANCOUVER, July 13, 2015 /CNW/ - Tinkerine™ Studios Ltd.
(TSXV: TTD, FSE: WKN WB6B and OTC: TKSTF)
Focus, Progress and Execution
My co-founders and I founded Tinkerine Studios because we
believed that building a personal fabrication product and
associated services that would allow people to bring to life ideas
they never could, would improve people's lives, and enhance the
world's innovations. We are delighted in the way people and
institutions have used our technology to facilitate the thinking of
3D design and fabrication to bring ideas to reality.
We are always looking towards doing better for our users.
Performing at our best matters at Tinkerine as we are making
strides to make sure that each improvement is going to move the 3D
printing industry and us in the right direction.
Long-term Focus
We have made good progress in the first half of 2015 with our
business growth and overall traction. Our focus on education
through Tinkerine U continues to be our main effort. We
provide students, teachers, and businesses with the knowledge to
integrate 3D printing technology into their work or everyday life
through a series of projects, tutorials, workshops, and STEAM
(Science, Technology, Engineering, Arts and Mathematics) based
content. This set the foundation, in conjunction with our
channels partners, for our move into the educational sector
seamlessly and successfully. Our dedication to building these
strong relationships continues to return solid results to us on the
hardware sales front.
What an educational focus means for us is the specific
understanding that knowledge is key moving forward. At
Tinkerine we concentrate on the long term by investing in
technology and service that will make a significant impact over
time. Tinkerine U is one of those services and we
recognize that strong partners will complement and speed our
growth. In particular, those partners that complement our
vision of getting the knowledge into the hands of users.
Moving in this direction in Q2 2015, we completed a software
integration with Adobe Systems. Bringing the
DittoTM Pro 3D printer into the Photoshop Creative Cloud
software suite is opening the doors for professionals to leverage
their existing work-flow for 3D printing technology. It
doesn't end there. With regular webinars and workshops we
will guide users through the usage of this technology.
Partnerships with major companies like Adobe are a key part of our
business expansion strategy moving forward.
Taking Action
Over the later parts of 2014 and early 2015, our emphasis on
building out our channel program alongside our direct sales efforts
was a key initiative. The inclusion of a channels program has
taken hold with dealers now reordering regularly and we expect the
proportion of sales that go through channels partners to continue
to increase in future quarters. Our dealers currently cover
Canada (West and East), parts of
the USA, northern Asia Pacific (Hong
Kong and Taiwan), the
Middle East, and part of
India. We have plans to
further expand our number of channel partners and geographic
coverage in Q3 and Q4 2015, filling in certain USA regions, establishing further progress in
the northern Asia Pacific region
including China and Japan, Southeast
Asia down to Australia and
Europe.
Coinciding with sales and channel expansion, production
expansion has similarly been put in motion with capacity to meet
750 to 900 units a quarter from our current facility. With
channels partners input, we are able to gain clarity to our sales
funnel and scale our production accordingly.
Sales for Q2 2015 (see cautionary notes below) were $330,000 growth of approximately three times Q1
2015 or six times Q2 2014 comparatively. 60% of sales went through
our channels program for Q2 2015, up from 49% in Q1 and 40% in Q4
2014 with the balance of sales occurring from our direct sales
efforts.
Filament made up 11% of Q2 2015 sales, up from 10% in Q1, a
trend we expect to continue as our customer base/installed base of
Ditto 3D printers grows.
Recent recognition
Significantly, at the International Consumer Electronics Show
Asia 2015, held in Shanghai in
early June, Tinkerine's Ditto Pro desktop printer was
recognized as the best 3D printer at the show. Our hardware,
especially when combined with our software and Tinkerine U digital
content platform, is increasing being recognized for setting the
standard for ease of use, reliability, and high performance for
desktop 3D printers.
We have much to accomplish in the second half of 2015 and into
2016. We believe the business ramp up steps we have put in place in
the first half of 2015 position us well for further growth.
Sincerely,
Eugene Suyu, CEO
CAUTIONARY NOTES
Readers are cautioned sales information is unaudited and the
Company's financial statements for the three months ended
June 30, 2015 are targeted to be
released on or about August 14, 2015
and such sales information could be subject to revision.
Certain information in this news release may constitute
forward-looking information. This information is based on current
expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results
might differ materially from results suggested in any
forward-looking statements. Tinkerine assumes no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to Tinkerine. Additional information identifying
risks and uncertainties is contained in Tinkerine's filings with
the Canadian securities regulators available at www.sedar.com.
Tinkerine and Ditto are registered trademarks of Tinkerine
Studios Ltd., all rights reserved.
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.
SOURCE Tinkerine Studios Ltd.
