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ATW Tech Announces an Increase in Its Revenues of $8.4m (249%) and Revenues of $11.8m for 2017

MONTREAL, April 11, 2018 (GLOBE NEWSWIRE) -- ATW Tech (“AtmanCo” or the “Company”) (TSX-V:ATW) announces its financial results for its 4th quarter and its financial year ended December 31, 2017.

  • The Company had revenues of $11.8m in 2017 compared to $3.4m in 2016, an increase of $8.4m or 249%.
  • In Q4-2017, the Company had revenues totalling $3.3m compared to $2.6m in Q4-2016, an increase of $0.6m or 26% and compared to $2.7m for Q3-2017, a 22% increase.
  • As of December 31, 2017, the Company’s order book was totalling $10.7m compared to $8.9m as of December 31, 2016, for an increase of $1.8m or 20%.
  • Total assets increased from $7.3m to $8.1m between 2016 and 2017 for an increase of $0.8m or 11%.
  • On October 1st, 2017, the Company closed the acquisition of VuduMobile Inc. (‘Vudu’) for a total purchase price of $589k.

The selected financial information below originates from our 2017 management report:

IN THOUSANDS OF $
3 months
ended
December
31, 2017
12 months
ended
December
31, 2017
3 months
ended
December 31,
2016
12 months
ended
December
31, 2016
Consolidated statement of income
Revenues3,278 11,777 2,606 3,378
Operating income
(before depreciation/amortization)
(81)(642)(43)(561)

« 2017 allowed us to consolidate the foundation of our growth plan and accelerate our development. Among other things, we finalized the integration of the business activities of VoxTel, completed the acquisition of the cutting-edge text messaging platform of Vudu, built of a solid salesforce aligned with our growth plan and launched many business opportunities in our core unified interactive communications and payment solutions while starting to reap some of those benefits in our 4th quarter of 2017. In the meantime, we continue to be actively involved to progress with our acquisition growth plan », said President and CEO of ATW Tech, Michel Guay.

The above data includes a summary of highlights. For further information, please consult the Corporation’s consolidated financial statement as well as the Management Report for the year ended December 31, 2017 at www.sedar.com

Forward-Looking Statements Disclaimer

This press release contains forward-looking statements that reflect the Company’s current expectation regarding future events. There is a risk that expectations and forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on these forward-looking statements as they involve risks and uncertainties, which could make actual results differ materially from those projected herein and depend on a number of factors including, but not limited to, no history of profitability, future financing, intellectual property and patents, key personnel, competitive marketplace, technology obsolescence, share price volatility and other risks detailed from time to time in the Company’s filings. While ATW Tech anticipates that subsequent events and developments may cause its views to change, ATW Tech specifically disclaims any obligation to update these forward-looking statements, unless obligated to do so by applicable securities laws.

Additional information regarding the Company is available on SEDAR www.sedar.com. The TSX Venture Exchange and its Regulatory Services provider (as per meaning assigned to this term in TSX Venture Exchange’s policies) bear no liability as to the relevance or accuracy of this press release.

ABOUT ATW TECH

ATW Tech (‘AtmanCo’) (TSX-V:ATW) is a leader in information technology, owner of several web platforms including VoxTel, VuduMobile, Atman, Bloomed and Quebec Rencontres. VoxTel offers various interactive communication and landline and mobile carrier billing phone solutions. VuduMobile is specialized in the text messaging business for enterprises through its unique, user-friendly and bilingual test messaging application and turnkey solution allowing management of text message management programs in all kind of businesses. Atman and its APIs enable companies to optimize their human capital. Bloomed is a cloud-based platform to manage data (smart data) on consumers and their behaviors, which is developed for marketing agencies and their campaigns for the consumer and corporate markets. Quebec Rencontres is a web and mobile social network application catered to building serious and sustainable relationships.

SOURCE:

ATW TECH (AtmanCo)
Michel Guay
Founder, president and CEO
Tel.: 514.935.5959 ext. 301
mguay@atwtech.com
www.atwtech.com
Simon Bédard, CA, CPA, CFA, MBA
CFO
Tel. : 514.935.5959 ext. 304
sbedard@atmanco.com


Source:AtmanCo Inc.