Q2 financial news is out
Q2 2018 Financial Highlights Abbotsford, BC - April 30, 2018
• Revenue for the three months ended February 28, 2018 was $1,237,320 as compared to $1,314,495 during the same period in the previous year;
• Gross profit during the quarter was $635,693 as compared to $674,745 during the same period in the previous year;
• Net loss for the quarter was $499,124 as compared to a net loss of $308,143 for same period in the previous year;
•As at February 28, 2018, the Company had cash and cash equivalents of $5,778,741 and working capital of $7,103,814.
BUSINESS UPDATE During the second quarter of fiscal 2018, the Company advanced the following initiatives:
• Negotiated the purchase of assets of Spector Logistics Inc., a US-based video installation and support company that provided contract services to Southeastern Pennsylvania Transportation Authority, the 5th largest transit system in the US.
• Launched the G4 716 Network Video Recorder (NVR) for the public transit market. G4 716 NVR is a full-featured IP recorder that records up to sixteen 1080p cameras at 30 frames per second.
• Initiated a national sales campaign for a new Y35 high definition recorder for the school bus market. The Y35 records five cameras and has the ability to push back video upon alarm conditions, such as a vehicle hard deceleration, which allows transportation managers to study poor driving habits and investigate accidents. A driver alarm can also be activated which sends emergency situation video to a command center using Gatekeeper’s enterprise software.
• Released a new version of “Health Check” software, which automatically reports when a Gatekeeper device is not working, or has been vandalized, allowing transportation managers to be proactive in system maintenance, to reduce missing video evidence.
• Continued to advance the 23 installed stop-arm camera systems under evaluation, which involve 1,829 buses owned by various school districts. The Company has five stop-arm camera system installations currently in operation