VANCOUVER, March 16, 2015 /CNW/ - Tinkerine™ Studios Ltd.
(TSXV: TTD, FSE: WKN WB6B and OTC: TKSTF) ("Tinkerine" or the
"Company") is pleased to announce its financial highlights for the
year ended December 31, 2015. The
Company's consolidated financial statements and management
discussion and analysis ("MD&A") for the twelve months ended
December 31, 2015 are available on
SEDAR at www.sedar.com and on the Company's website at
www.tinkerine.com.
Highlights
- 2015 revenue of $1,268,074, a
270% increase from 2014 revenue of $342,839;
- 2015 gross profit of $595,230, a
293% increase from 2014 gross profit of $151,312;
- Successfully implemented a dealer network for the DittoPro
product with good coverage of the Canadian and USA markets;
- Initial launch of Tinkerine U content delivery platform which
provides educators, students and consumers with 3D printer
training, lesson plans and a form to share digital files;
- Integrated Ditto Pro software with Adobe Photoshop CC;
- Maintained a commitment to research and development in both
hardware and content/software;
- Q4 2015 revenue of $349,000, a
236% increase from Q4 2014 revenue of $104,000;
- 2015 net loss of $1,069,447
versus a 2014 net loss of $2,700,252.
Financial Summary
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2015
YE
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2014
YE
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Revenue
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$1,268,074
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|
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$342,839
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Gross
Profit
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$595,230
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$151,312
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Expenses
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$1,766,991
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$1,801,825
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Net
Loss
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($1,069,447)
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($2,700,252)
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Net Loss Per
share
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($0.03)
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($0.09)
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The 2015 fiscal period was a transitional year for Tinkerine
with the increased acceptance of the Tinkerine suite of products
including the DittoPro 3D printer and associated software. The
Company recognized a significant increase in sales through its
online store and associated distributors located in Canada, the United
States and in international locations including China. The Company is increasing efficiencies
in the production of the Ditto Pro 3D printer, and has production
capacity of up to 150 3D printers per month. In addition, we have
significantly reduced our monthly overhead through the streamlining
of communications and public company reporting requirements, and
will further identify and implement efficiencies in our production
and sales cycles.
President and CEO Eugene Suyu states; "We are extremely pleased
with the increased revenue and new sales channels established by
our team at Tinkerine. We are continuing the development of the
Ditto Pro 3D printer, and are generating significant new interest
from school boards, public institutions and education oriented
entities. We appreciate the support of our distributors and
shareholders and look forward to future growth in this emerging
sector."
Outlook
Tinkerine continues the focus on providing STEAM based (science,
technology, engineering, arts and mathematics) education content
with 3D printing being the foundation of sales growth. We continue
to be recognized as an industry leader in this evolving sector, and
believe our commitment to quality will assist in the penetration
into new education programs and facilities. Tinkerine continues to
develop and refine the TinkerineU learning platform, and will be
adding content on a regular basis for school and customer use.
About Tinkerine
Tinkerine Studios designs and manufactures user-friendly award
winning 3-D printers and software, with a focus on STEAM based
educational content and online training tools. Tinkerine also
manufactures our own line of high purity filament for 3-D
printers.
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.
