TORONTO, ONTARIO — (Marketwired) — 05/23/13 — ENGINEERING.com Incorporated (TSX VENTURE: EGN), developer of the ENGINEERING.com online service for engineers today announced its unaudited financial results for the first quarter ended March 31, 2013.
Revenue was $414,677 for the three months ended March 31, 2013, compared to revenue of $581,965 for the first quarter of 2012. Revenue in the first quarter of 2012 included a sale of third party software to a single customer for approximately $170,000.
The net loss for the three months ended March 31, 2013, totaled ($25,469) and $0.00 per Common Share compared to a net loss of ($6,048) and $0.00 per share for the same period a year ago.
Operating loss (EBITDA) measured as earnings before interest, taxes, amortization and stock-based compensation, was ($21,280) or $0.00 per Common Share for the first quarter of 2013 compared with an operating income of $2,364 or $0.00 per Common Share for the three month period ended March 31, 2012. The operating expenses in the latest quarter were $282,897, compared to $300,924 in the first quarter a year earlier.
“ENGINEERING.com recently launched two new advertising services,” said John Hayes, President of ENGINEERING.com. “Our lead generation and sponsored post services leverage our large reach to more directly connect our advertisers to the audience they crave.”
As at March 31, 2013, the Company had a cash balance of $163,943 compared to a cash balance of $231,196 as at December 31, 2012.
About ENGINEERING.com Incorporated
ENGINEERING.com Incorporated (TSX VENTURE: EGN) inspires, informs and entertains a worldwide audience of engineers through the web site, mobile and social media 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