(via Thenewswire.ca)
Kelowna, British Columbia / TheNewswire / November 17, 2015 / Decisive Dividend Corporation (TSX-V: DE) (the "Corporation") reported its financial results for the three and nine month periods ended September 30, 2015. All amounts are in Canadian currency. The results have been posted on SEDAR and on our website.
Q3 2015 highlights:
- Revenues for the nine months were $8,948,329, and $4,839,969 for the third quarter
EBITDA for the nine months was $1,067,530, and $860,926 for the third quarter
- Net earnings for the nine months were $255,353 or $0.08 per share and $497,076 or $.13 per share for the third quarter
- Dividends paid out during the third quarter were $.065 per share
- Monthly dividend was increased during the third quarter by $.005 per share, or 25%
Sales by Blaze King for the nine month period ended September 30, 2015 continue to be stronger than the prior year, along with corresponding increases in gross profit owing to the increased value of the US dollar. The Canadian market is acting as management expected, with a slow start and now a stronger finish to the year, while the US market has been very strong with a robust summer and even stronger expected stove demand going into the final quarter of the year. Management also expects the US dollar to remain at current levels for the balance of the year, which is extremely favorable to the Corporation.
Stove production for the first nine months of 2015 has continued to outpace prior year production as inventory was built up through the summer months to ensure available product for the third and fourth quarters. Inventory levels are now being drawn down as anticipated by management. However, year-over-year production increases plus the inventory build during the seasonally slower periods of the year are expected to meet demand, unlike in the prior year when demand out-paced supply.
Blaze King's sales in Canada and the US were higher than last year's sales for the first three quarters of 2015 (and for the 7 month reporting period of 2015). Combined US and Canadian sales were the highest in company history in six of the first nine months of 2015, and five of the seven months that Blaze King's operating results that are being included in the consolidated entity.
"We are extremely pleased with how the Blaze King acquisition has been performing for Decisive," said James Paterson, CEO. "The Company continues to exceed our expectations in terms of performance and sales growth, and we would like to give credit for this to the team at Blaze King, who have been doing an outstanding job."
About Decisive Dividend Corporation
Decisive Dividend Corporation is an acquisition-oriented company, focusing on the manufacturing sector. The Corporation uses a disciplined acquisition strategy to identify already profitable, established companies that have strong management teams, generate steady cash flow, operate in non-cyclical markets, and have opportunity for future growth.
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 the contents of this News Release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mr. David Redekop, Director and Chief Financial Officer
#104, 1420 St. Paul Street
Kelowna, BC V1Y 2E6
Telephone: (250) 870-9146
Cautionary Statements
This press release contains forward-looking statements. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information.
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