VANCOUVER, Oct. 29, 2015 /CNW/ - Tinkerine™ Studios Ltd.
(TSXV: TTD, FSE: WKN WB6B and OTC: TKSTF) ("Tinkerine" or the
"Company") is pleased to announce its financial highlights for the
three and nine months ended September 30,
2015. The Company's unaudited interim financial statements
and management discussion and analysis ("MD&A") for the three
and nine months ended September 30,
2015 are available on SEDAR at www.sedar.com and on the
Company's website at www.tinkerine.com.
Highlights
- Q3 2015 revenue of $465,780, a
370% increase from Q3 2014 revenue of $98,898.
- Revenue of $919,308 for the nine
months ended Sept. 30, 2015, a 284%
increase over $239,157 for the
comparative 2014 period.
- Q3 2015 gross profit of $258,226,
a 650% increase from Q3 2014 gross profit of $34,423.
- Q3 2015 gross profit margin of 55% versus a gross profit margin
of 35% for Q3 2014.
- Continued to expand and strengthen the dealer network for our
3D printers and conducted the majority of sales through dealers in
Q3 2015.
- Net loss for Q3 2015 of $138,589,
versus a net loss of $536,381 in Q3
2014.
Financial Summary
|
Q3
2015
|
Q3
2014
|
Nine
months
2015
|
Nine
months
2014
|
|
Revenue
|
$465,780
|
$98,898
|
$919,308
|
$239,157
|
|
Gross
Profit
|
$258,226
|
$34,423
|
$452,458
|
$144,751
|
|
Gross
profit margin
|
55%
|
35%
|
49%
|
60%
|
|
Expenses
|
$396,815
|
$570,804
|
$1,459,747
|
$1,282,472
|
|
Net Income
(Loss)
|
($138,589)
|
($536,381)
|
($1,007,289)
|
($1,137,721)
|
To date in 2015 we have ramped up our sales each quarter through
the expansion of our dealer network particularly in the United States and Canada. Additional
efficiencies continue to be recognized as the manufacturing process
is optimized by our production team. We also tightened
controllable expenses and brought the Company well in the direction
of achieving cash flow positive results.
Outlook
To continue to expand our sales channels, we are focusing
additional efforts on extending our dealer networks
internationally. Our dedication to integrating STEAM based
(science, technology, engineering, arts and mathematics) education
content with 3-D printing is the foundation of future sales growth.
Tinkerine continues to devote resources to research and development
which includes hardware advancements, our Tinkerine Suite software
and Tinkerine U online content delivery platform.
About Tinkerine
Tinkerine Studios designs and manufactures user-friendly award
winning 3-D printers and software, with a focus on STEAM based
educational content and online training tools. Tinkerine also
manufactures our own line of high purity filament for 3-D
printers.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Certain information and statements in this news release may
constitute forward-looking information particularly "brought the
Company well in the direction of achieving cash flow positive
results". This information is based on current expectations that
are subject to significant risks and uncertainties that are
difficult to predict. Actual results might differ materially
from results suggested in any forward-looking statements. Tinkerine
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 unless and until
required by securities laws applicable to Tinkerine.
Additional information identifying risks and uncertainties is
contained in Tinkerine's filings with the Canadian securities
regulators available at www.sedar.com.
Tinkerine and Ditto are registered trademarks of Tinkerine
Studios Ltd., all rights reserved.
SOURCE Tinkerine Studios Ltd.