Mr. Andre Charron reports
DMD ANNOUNCES FINANCIAL RESULTS FOR THIRD QUARTER AND FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015
On Nov. 25, 2015, DMD Digital Health Connections Group Inc. filed its financial statements and management's discussion and analysis. It had a net income of $6.0-million on revenues of $22.2-million for the nine-month period ended Sept. 30, 2015, compared with a net income of $900,000 on revenues of $14.9-million for the nine-month period ended Sept. 30, 2014, an improvement of $5.1-million. The net income for the nine-month period includes a gain on extinguishment of debt of $3.1-million realized in the first six months of 2015.
For the three months ended Sept. 30, 2015, the company reported a net income of $1.1-million on revenues of $8.0-million compared with a net income of $100,000 on revenues of $4.7-million for the three months ended Sept. 30, 2014.
The company reported an operating income before net finance expense and gain on extinguishment of debt of $4.5-million for the nine-month period ended Sept. 30, 2015, compared with an operating income before net finance expense of $2.4-million for the nine-month period ended Sept. 30, 2014, an improvement of $2.1-million. The operating income before net finance expense for the three-month period ended Sept. 30, 2015, reached $1.6-million compared with an operating income before net finance expense of $600,000 for the three-month period ended Sept. 30, 2014. Operating income for the three-month period reached 20 per cent of sales compared with 12 per cent for the corresponding period in 2014.
Revenue increased by $3.2-million for the three-month period ended Sept. 30, 2015, compared with the three-month period ended Sept. 30, 2014, while gross margin increased by $2.3-million, from $2.3-million in 2014 to $4.6-million for the three-month period ended Sept. 30, 2015. In addition to a more favourable exchange rate, the company has a larger client base and a wider health care segment penetration. The company has also been able to change its product mix whereby the company's higher-margin products and services are increasing in relative importance.
Complete financial statements and MD&A for the three-month and nine-month periods ended Sept. 30, 2015, are available on SEDAR.
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