Post by
darrrk1 on Feb 26, 2014 9:10am
Q1 results out
ACT360 Solutions Announces Financial Results for Quarter Ended December 31, 2013
February 25, 2014, Vancouver, British Columbia — ACT360 Solutions Ltd. (the “Company” or
“ACT360 Solutions”), a provider of Internet-based testing and international marketing programs for higher
education, announced its unaudited financial results for the quarter ended December 31, 2013. Results are
in Canadian dollars and were prepared in accordance with International Financial Reporting Standards.
Highlights for the first quarter:
- Revenue growth of 32% compared to the prior year quarter;
- Student Marketing Service revenue growth of 48% compared to the prior year quarter;
- Acquisition of license to operate and monetize the websites www.learnhub.com and
www.jumbotests.com with a combined total of 2.5 million users and a substantial presence in
India;
- Loss of $24,598 resulting from the Company’s decision to increase investment in global call center
activities, online branding, and corporate development to support and accelerate the Company’s
long term growth objectives.
Three Months Ended Three Months Ended
December 31, 2013 December 31, 2012
Sales $298,472 $226,110
Net Income (Loss) ($24,598) $15,047
Earnings (Loss) per share ($0.00) $0.00
Total Assets $448,795 $294,039
For the three months ended December 31, 2013, the Company’s revenue increased by 32% to $298,472
compared to revenue of $226,110 for the same period in the previous year.
Student Marketing Service revenue, derived from the Company’s proprietary international student
marketing platform, rose by 48% compared to the prior year quarter. Revenue growth resulted from
increased marketing budget allocations from higher education clients targeting international students.
Internet Application revenue rose by 19% as the Company sold more English tests and grading services
through B2B channel partners.
On a consolidated basis for the three months ended December 31, 2013, the Company had a net loss of
$24,598 on sales of $298,472 compared to a profit of $15,047 on sales of $226,110 during the same period
in the previous year.