LEVIS, QUEBEC — (Marketwire) — 10/20/11 — DEQ Systems Corp. (TSX VENTURE: DEQ) (“DEQ” or the “Company”) announces the filing of its third quarter financial results for the period ended August 31, 2011. The Consolidated Financial Statements are available on SEDAR () and DEQ-s website. A conference call will be held on Friday, October 21, 2011 at 11am EST to present and discuss these results. Those interested in participating in the call should dial toll free 1 (800) 736-4594 or (416) 981-9000. A presentation will be available on DEQ-s website in the Invest/Financial Reports/PowerPoint section to support the call content.
2011 THIRD QUARTER RESULTS HIGHLIGHTS:
Financial Metrics
Revenue
Operating Costs
EBITDA
Cash Flow
Operational Highlights
“While the loss of the Severn contract earlier this year was a hard blow to our revenue base, cost structure and key financial metrics, the DEQ team has brilliantly reduced expenses while accelerating product placement,” stated Earle G. Hall, President & CEO. “DEQ-s products are internationally recognized and growing in placements, penetration and geographical presence and we are excited to the prospects of 2012 to further increase our revenue, units in the field and shareholder value.”
Note 1: On March 3, 2011, the Company entered into a settlement agreement with DEK International on the Severn Project and the royalty from Severn Enterprises was terminated as of February 28, 2011.
Note 2: We use EBITDA (Earnings before Stock option based compensation, Interest, Taxes, Depreciation, Amortization and Foreign exchange) as performance measurements in our financial disclosure. This measure is not recognized under generally accepted accounting principles. The reconciliations above demonstrate how we calculate such measurements from our financial statements.
ABOUT DEQ
DEQ Systems Corp. (TSX VENTURE: DEQ) is a customer centric company that delivers best of breed table game technology related products to the global gaming industry that add value and increase client revenue. DEQ provides table game bonusing technology, table games, table game results tracking and jackpot connectivity solutions to more than 275 casinos in 30 countries. DEQ is an intellectual property focused company that has an extensive patent portfolio of more than 20 patents recognized in 50 countries.
Forward-looking statements contained in this Press Release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.
TSX Venture does not accept any responsibility regarding the accuracy of the information contained in this press release.
Contacts:
Earle G. Hall
President & CEO
DEQ Systems Corp.
(418) 839-3012
Francois Proulx
Chief Financial Officer
DEQ Systems Corp.
(418) 839-3012
You must be logged in to post a comment Login