|By PR Newswire||
|November 14, 2012 04:58 PM EST||
TORONTO, Nov. 14, 2012 /CNW/ - Posera-HDX Ltd. ("Posera-HDX") (the Company) announced today its financial results for the three and nine-months ended September 30th, 2012. Posera-HDX is listed on the TSX under the symbol "HDX".
Paul Howell, Chief Executive Officer, reports:
While fourth quarter business activity has improved drastically, the third quarter of 2012 was a difficult period. There were fewer new restaurants opened because of the worldwide economy. There were also fewer restaurant renovations and technology refreshes. The lack of available third party lease funding for clients resulted in fewer restaurants being approved for technology financing, the reseller community experienced lower than expected software sales and a major vendor to Posera-HDX had significant inventory availability issues. These factors have resulted in slower than expected sales activity in the third quarter of 2012. Sales and service revenues for the three-months ended September 30, 2012 were $4,032,574 representing a decrease of 11.2% from $4,541,336 from the three-months ended September 30, 2011.
Excluding the Company's investment in the payment processing division, one-time expenses and non-cash costs associated with the amortization of acquired intangible assets, property plant and equipment and stock-based compensation, the Company would have recognized normalized EBITDA profit of $140,401 for the three-months ended September 30, 2012.
The Company experienced a normalized EBITDA loss of ($32,206) for the three-months ended September 30, 2012 of which, $172,607 is due to the ongoing expenses related to the Company's investment strategy for our payment processing division. Additionally, the Company incurred $107,964 of one-time expenditures during the three-months ended September 30, 2012.
Company-wide non-cash amortization of intangible assets and property plant and equipment was $365,470 and stock-based compensation was $87,239, for the three-months ended September 30, 2012. HDX Payment Processing Ltd. ("HDXPP") (the acquired Cash N Go Ltd. payments processing division) experienced a loss of $194,551 and Posera-HDX Scheduler Inc. (the acquired assets of 2020 Hyperscheduler / Hypervison) experienced a loss of $38,959. The Company expects to continue to make significant investments in these divisions into the foreseeable future and will strive to increase revenue for these divisions and products as quickly as possible.
Posera-HDX Ltd. continues to invest and focus on developing significant new revenue opportunities that are complimentary to the Company's current operational foundation and synergistic with the Company's intellectual property assets. New software as a service ("SaaS") products and business modules with recurring revenue are under construction. This will allow the Company to deliver an enhanced range of services to the Company's current client base and will bolster the Company's ability to attract new customers.
Following the acquisition of HDXPP in December 2011, and following the announcement on June 14th, 2012 that the Company has been approved for membership to the Interac Association as an Indirect Connector to perform the functions of an Acquirer in the Shared Cash Dispensing ("SCD") Service, Posera-HDX continues to make significant investments to enhance systems, facilities, and operating procedures in order to secure the necessary approvals to operate a payment processing switch and an ATM transaction processing switch. Through HDXPP, Posera - HDX owns and operates a Postillion payment switch developed by S1 Corporation. In addition, to the provision of SCD services, Posera-HDX plans to expand the payment switch to facilitate the processing of Point-of-Sale transactions for its merchant client base. HDXPP has retained team members and contractors with the appropriate industry expertise to allow the Company to further develop the payment processing division with an eye toward monetizing the Company's investment in this division as quickly as possible. To take advantage of the convergence in retail technologies currently underway, the Company continues to pursue merger and acquisition opportunities with complimentary organizations although none are specifically named at this time.
Highlights and Summary - Three-months ended September 30, 2012 (Unaudited)
- Net loss for the three-months ended September 30, 2012 was a loss of $679,992, an increase of $459,356 from a loss of $220,636 for the three-months ended September 30, 2011, and an increase of $238,966 from a loss of $441,026 for the three-months ended June 30, 2012;
- EBITDA for the three-months ended September 30, 2012, was ($227,409), a decrease of $372,926 from $145,517 for the three-months ended September 30, 2011, and a decrease of $93,166 from ($134,243) for the three-months ended June 30, 2012;
- Normalized EBITDA for the three-months ended September 30, 2012 was ($32,206), a decrease of $416,620 from $384,414 for the three-months ended September 30, 2011, and a decrease of $32,963 from $757 for the three-months ended June 30, 2012;
- Total revenue was $4,032,574 for the three-months ended September 30, 2012, down $508,762 (11.2%) from $4,541,336 for the three-months ended September 30, 2011 and down $213,386 (5.0%) from $4,245,960 for the three-months ended June 30, 2012;
- Gross profit was $1,503,360 for the three-months ended September 30, 2012, down $409,992 (21.4%) from $1,913,352 for the three-months ended September 30, 2011, and down $50,558 (3.3%) from $1,553,918 for the three-months ended June 30, 2012;
- Operating expenses were $2,096,239 for the three-months ended September 30, 2012, up $10,540 (0.5%) from $2,085,699 for the three-months ended September 30, 2011, and up $38,234 (1.9%) from $2,058,005 for the three-months ended June 30, 2012;
- Included in cost of sales and operating expenses for the three-months ended September 30, 2012, September 30, 2011 and June 30, 2012 were certain one-time non-recurring expenditures and non-cash stock-based compensation expense (recovery) totaling $195,203, $238,897 and $135,000 respectively as referenced on pages 18-19 of this MD&A;
- Posera-HDX's cash and cash equivalents totaled $671,341 as at September 30, 2012, an increase of $237,482 (54.7%) from $433,859 as at September 30, 2011, and a decrease of $780,861 (53.8%) from $1,452,212 as at June 30, 2012. Bank indebtedness was $236,060 as at September 30, 2012, an increase of $43,510 (22.6%) compared to $192,550 as at September 30, 2011, and an increase of $401 (0.2%) compared to $235,659 as at June 30, 2012; and
- Posera-HDX's working capital totaled $1,506,701 as at September 30, 2012, an increase of $302,680 (25.1%) from $1,204,021 as at September 30, 2011, and a decrease of $503,848 (25.1%) from $2,010,549 as at June 30, 2012.
About Posera-HDX Limited (the "Company)
The Company is in the business of managing merchant transactions with consumers and facilitating payment. The Company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post-sale software and hardware support services.
The Company's leading edge technology also includes prepaid stored value payments solutions, customer self-serve kiosks and "line buster" mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.
Through its corporate offices in Toronto, London, Brantford, Seattle Washington, Montreal, Paris, Singapore, and Glasgow, Posera-HDX has a direct sales and service team.
The company has also built a network of approximately 112 value added resale partner companies in 25 countries. There are approximately 1,100 representatives selling, supporting & installing the Posera-HDX Maitre 'D software worldwide and the solution has been deployed in over 20,000 locations in eight different languages around the world.
Posera-HDX customers include Tim Hortons, Wendy's, Arby's, Quick (France), Popeye's, East Side Mario's, O'briens, St-Hubert, Pita Pit, Popeye's, Dunkin' Donuts, Pizza Delight, Baton Rouge, Scores, Hooters, Casey's, Supermac's, HDOS, KFC, Extreme Pita, Pizza Hut, among many others.
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect the Company's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Annual Information Form of Posera - HDX Inc. filed on March 29th, 2012 with the regulatory authorities. Posera-HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
According to Forrester, public cloud platforms are evolving, blurring the lines between Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS) in order to satisfy the needs of enterprises and widen their appeal to developers. In The Forrester Wave™: Enterprise Public Cloud Platforms, Q4 2014, Forrester evaluates the 16 most significant Enterprise Public Cloud Platforms and details how each vendor fulfills the 19 evaluation criteria points.
Oct. 4, 2015 05:00 AM EDT Reads: 722
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Oct. 4, 2015 04:00 AM EDT Reads: 638
Interested in leveraging automation technologies and a cloud architecture to make developers more productive? Learn how PaaS can benefit your organization to help you streamline your application development, allow you to use existing infrastructure and improve operational efficiencies. Begin charting your path to PaaS with OpenShift Enterprise.
Oct. 4, 2015 04:00 AM EDT Reads: 274
SYS-CON Events announced today that Agema Systems will exhibit at the 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Agema Systems is the leading provider of critical white-box rack solutions to data centers through the major integrators and value added distribution channels.
Oct. 4, 2015 03:30 AM EDT Reads: 555
The cloud has reached mainstream IT. Those 18.7 million data centers out there (server closets to corporate data centers to colocation deployments) are moving to the cloud. In his session at 17th Cloud Expo, Achim Weiss, CEO & co-founder of ProfitBricks, will share how two companies – one in the U.S. and one in Germany – are achieving their goals with cloud infrastructure. More than a case study, he will share the details of how they prioritized their cloud computing infrastructure deployments ...
Oct. 4, 2015 03:00 AM EDT Reads: 609
Data loss happens, even in the cloud. In fact, if your company has adopted a cloud application in the past three years, data loss has probably happened, whether you know it or not. In his session at 17th Cloud Expo, Bryan Forrester, Senior Vice President of Sales at eFolder, will present how common and costly cloud application data loss is and what measures you can take to protect your organization from data loss.
Oct. 4, 2015 03:00 AM EDT Reads: 421
Organizations already struggle with the simple collection of data resulting from the proliferation of IoT, lacking the right infrastructure to manage it. They can't only rely on the cloud to collect and utilize this data because many applications still require dedicated infrastructure for security, redundancy, performance, etc. In his session at 17th Cloud Expo, Emil Sayegh, CEO of Codero Hosting, will discuss how in order to resolve the inherent issues, companies need to combine dedicated a...
Oct. 4, 2015 12:00 AM EDT Reads: 367
The modern software development landscape consists of best practices and tools that allow teams to deliver software in a near-continuous manner. By adopting a culture of automation, measurement and sharing, the time to ship code has been greatly reduced, allowing for shorter release cycles and quicker feedback from customers and users. Still, with all of these tools and methods, how can teams stay on top of what is taking place across their infrastructure and codebase? Hopping between services a...
Oct. 4, 2015 12:00 AM EDT Reads: 232
For almost two decades, businesses have discovered great opportunities to engage with customers and even expand revenue through digital systems, including web and mobile applications. Yet, even now, the conversation between the business and the technologists that deliver these systems is strained, in large part due to misaligned objectives. In his session at DevOps Summit, James Urquhart, Senior Vice President of Performance Analytics at SOASTA, Inc., will discuss how measuring user outcomes –...
Oct. 3, 2015 11:00 PM EDT Reads: 274
Clearly the way forward is to move to cloud be it bare metal, VMs or containers. One aspect of the current public clouds that is slowing this cloud migration is cloud lock-in. Every cloud vendor is trying to make it very difficult to move out once a customer has chosen their cloud. In his session at 17th Cloud Expo, Naveen Nimmu, CEO of Clouber, Inc., will advocate that making the inter-cloud migration as simple as changing airlines would help the entire industry to quickly adopt the cloud wit...
Oct. 3, 2015 09:00 PM EDT Reads: 348
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
Oct. 3, 2015 05:00 PM EDT Reads: 312
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Bradley Holt, Developer Advocate at IBM Cloud Data Services, will demonstrate techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, ...
Oct. 3, 2015 05:00 PM EDT Reads: 317
“All our customers are looking at the cloud ecosystem as an important part of their overall product strategy. Some see it evolve as a multi-cloud / hybrid cloud strategy, while others are embracing all forms of cloud offerings like PaaS, IaaS and SaaS in their solutions,” noted Suhas Joshi, Vice President – Technology, at Harbinger Group, in this exclusive Q&A with Cloud Expo Conference Chair Roger Strukhoff.
Oct. 3, 2015 03:00 PM EDT Reads: 270
SYS-CON Events announced today that Cloud Raxak has been named “Media & Session Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Raxak Protect automates security compliance across private and public clouds. Using the SaaS tool or managed service, developers can deploy cloud apps quickly, cost-effectively, and without error.
Oct. 3, 2015 01:15 PM EDT Reads: 561
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the...
Oct. 3, 2015 01:00 PM EDT Reads: 642
SYS-CON Events announced today that Key Information Systems, Inc. (KeyInfo), a leading cloud and infrastructure provider offering integrated solutions to enterprises, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Key Information Systems is a leading regional systems integrator with world-class compute, storage and networking solutions and professional services for the most advanced softwa...
Oct. 3, 2015 12:45 PM EDT Reads: 227
SYS-CON Events announced today that IBM Cloud Data Services has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IBM Cloud Data Services offers a portfolio of integrated, best-of-breed cloud data services for developers focused on mobile computing and analytics use cases.
Oct. 3, 2015 12:00 PM EDT Reads: 410
Learn how IoT, cloud, social networks and last but not least, humans, can be integrated into a seamless integration of cooperative organisms both cybernetic and biological. This has been enabled by recent advances in IoT device capabilities, messaging frameworks, presence and collaboration services, where devices can share information and make independent and human assisted decisions based upon social status from other entities. In his session at @ThingsExpo, Michael Heydt, founder of Seamless...
Oct. 3, 2015 11:00 AM EDT Reads: 581
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Bryan Forrester, Senior Vice President of Sales at eFolder, will present how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He will also demonstrate how easy it is to search and restore cloud application data using Cloudfinder.
Oct. 3, 2015 10:15 AM EDT Reads: 260
Docker is hot. However, as Docker container use spreads into more mature production pipelines, there can be issues about control of Docker images to ensure they are production-ready. Is a promotion-based model appropriate to control and track the flow of Docker images from development to production? In his session at DevOps Summit, Fred Simon, Co-founder and Chief Architect of JFrog, will demonstrate how to implement a promotion model for Docker images using a binary repository, and then show h...
Oct. 3, 2015 10:00 AM EDT Reads: 617