(via Thenewswire.ca)
Kelowna, British Columbia / TheNewswire / April 18, 2016 - Decisive Dividend Corporation (TSXV: DE) (the "Corporation") today announced its financial results for the three and twelve month periods ended December 31, 2015. All financial references are in Canadian dollars.
``We are very excited about our results in 2015 which was a pivotal year for Decisive Dividend Corporation, `` indicated James Paterson, CEO of Decisive Dividend Corporation. ``The successful completion of our first acquisition and the launch of our monthly dividend were significant milestones for our group and we are well positioned to pursue other acquisition opportunities. ``
2015 Highlights:
-Revenue for the year was $13,301,335.
-Adjusted EBITDA for the year was $1,841,303.
-Net income for the year was $388,615 or $0.11 per share.
-Completed a private placement offering with gross proceeds of $2 million for the issuance of 1,004,250 shares ($2.00 per share).
-Completed qualifying transaction with the acquisition of PGR Ventures Inc. (``Blaze King``).
-Commenced paying a monthly dividend of $0.02 per share ($0.24 annualized).
-Increased the monthly dividend to $.025 per share ($0.30 annualized).
Financial Highlights for the Fourth Quarter and Fiscal Year 2015
| |
Fourth Quarter ended
December 31, 2015
|
Year ended
December 31, 2015
|
|
Revenue
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$4,353,005
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$13,301,335
|
|
Adjusted EBITDA*
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$831,105
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$1,841,303
|
|
Net Income
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$362,167
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$388,615
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|
Net Income per share
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$0.10
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$0.11
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|
Dividends Declared
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$281,292
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$673,454
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* Adjusted EBITDA is defined as earnings before interest, income taxes, depreciation, amortization, one-time acquisition costs, and non-cash items such as stock compensation expense. Adjusted EBITDA is not a defined performance measure under International Financial Reporting Standards (IFRS) but it is used by Management to assess the performance of the Corporation and its segments.
Review of 2015 Financial Results:
Annual revenue of $13,301,335 is due to the acquisition of Blaze King on February 27, 2015. Revenues include ten months of Blaze King's operations. Established in 1977, with facilities in Penticton and Walla Walla, Blaze King has the most efficient and cleanest line up of wood stoves in North America. Blaze King generated another strong performance in 2015 following a record performance in 2014. Blaze King 2015 highlights:
-Increased unit and dollar sales.
-Generated higher and more efficient production levels.
-Expanded their dealer network.
-Increased their wood stove market share from 4.6% to 5%.
Subsequent to the fiscal year end, Blaze King has received the EPA final certification for the new Sirocco 25 fireplace insert which will be available for dealers in the second half of 2016.
The complete financial statements and management's discussion and analysis for the three and twelve months ended December 31, 2015 can be found at www.decisivedividend.ca or www.sedar.com
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 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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