TORONTO, ONTARIO — (Marketwired) — 04/24/13 — ENGINEERING.com Incorporated (TSX VENTURE: EGN), developer of the ENGINEERING.com online service for engineers, today announced its financial results for the fourth quarter and year ended December 31, 2012.
ENGINEERING.com revenue was $1,872,736 for the year ended December 31, 2012, compared to revenue of $1,549,389 for 2011. Sales of Internet advertising rose by 18% to $1,019,959 in 2012 compared to $867,494 for the year ended December 31, 2011. Total revenue for the three months ended December 31, 2012 was $435,661 compared to $385,166 for the fourth quarter of 2011.
The loss for the year ended December 31, 2012 totaled ($156,369) and $0.00 per Common Share compared with a net loss of ($206,781) and $0.00 for the same period a year ago. The loss for the three months ended December 31, 2012 was ($65,742) compared to a loss of ($37,879) in the comparable period in 2011.
Operating loss (EBITDA) measured as earnings before interest, taxes, amortization and stock -based compensation for fiscal 2012 was ($127,718) or $0.00 per Common Share compared to an operating loss of ($169,182) or $0.00 per Common Share for fiscal 2011. Operating loss was ($60,185) or $0.00 per Common Share for the fourth quarter of 2012 compared with an operating loss of ($23,862) or $0.00 per Common Share for the three month period ended December 31, 2011.
The operating expenses in the latest quarter were $311,515 and for the year ending December 31 2012 were $1,169,092 compared to $271,102 for the fourth quarter a year earlier and $1,062,513 for fiscal 2011.
“During 2012 several leading engineering commentators began to use ENGINEERING.com to build their audiences,” said John Hayes, President of ENGINEERING.com. “Engineers can access content from these authors on the ENGINEERING.com web site and through our industry-leading social media and mobile channels.”
As at December 31, 2012, the Company had a cash balance of $231,196 compared to a cash balance of $259,014 as at December 31, 2011.
About ENGINEERING.com Incorporated
ENGINEERING.com Incorporated (TSX VENTURE: EGN) inspires, informs and entertains a worldwide audience of engineers through its web sites, mobile apps and social distribution channels. ENGINEERING.com offers marketing services to manufacturers, technology inventors and engineering academia. The ENGINEERING.com Incorporated head office is located in Mississauga, Ontario, Canada and can be reached toll-free at 1-877-997-9917, by facsimile at 905-273-6691 or through the Internet at .
EBITDA
EBITDA is defined by the Company as operating income before interest expense, income taxes, amortization, stock-based compensation, asset dispositions and provision for discontinued operations. The Company has included information concerning EBITDA because it believes that EBITDA is used by certain investors as one measure of the Company-s financial performance. EBITDA is not a measure of financial performance under International Financial Reporting Standards and is not necessarily comparable to similarly titled measures used by other companies. EBITDA should not be construed as an alternative to operating income or to cash flows from operating activities as a measure of liquidity.
Forward-Looking Statements
This press release may contain forward-looking statements based on management-s current projections, beliefs and opinions at the date of this press release. Actual results could differ materially from those anticipated in these statements. ENGINEERING.com Incorporated undertakes no responsibility to update forward-looking statements if circumstances or management-s projections, beliefs or opinions change.
The contents of this News Release have been reviewed and approved by the Audit Committee and the Board of Directors.
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
ENGINEERING.com, Inc.
John Hayes
President & CFO
905-273-9991, ext. 3280 or Toll Free: 1-877-997-9917
905-273-6691 (FAX)
You must be logged in to post a comment Login