(TheNewswire)
Kelowna, British Columbia / TheNewswire / November 29, 2016 - Decisive
Dividend Corporation (TSX-V: DE) (the “Corporation”) reported its financial results for the three and nine month periods ended September
30, 2016. All amounts are in Canadian currency. The results have been posted on SEDAR and on our website.
Q3 2016 highlights:
-Revenues for the nine months were $9,966,150, and $5,124,150 for the third quarter
-Adjusted EBITDA for the nine months was $613,591 and $715,699 for the third quarter, as defined in the Q3
MD&A
-Due to acquisition costs related to the acquisition of Unicast, Inc., as well as a large non-cash charge for
stock option compensation expenses in both Q2 and Q3, the nine month period ended September 30, 2016 resulted in a net loss of
$1,470,463, or $(0.33) per share, as compared to net income of $26,449 or $.01 per share in nine month period ended September 30,
2015. For the third quarter, the net income was $118,970, or $.02 per share, as compared to net income of $367,671 or $.10
per share in the third quarter of 2015
-Dividends paid out during the second quarter were $.075 per share
-The Company continued to integrate our second acquisition – Unicast Inc., which was purchased on June
23rd, 2016
On June 23rd, 2016, the Company announced that it had closed the acquisition of Unicast Inc.
("Unicast"), a company based in Kelowna, British Columbia which designs, manufactures and markets wear
parts for the mining, aggregate and cement industries. As the purchase was concluded near the end of the second quarter, only three
months and seven days of Unicast operations are incorporated in the nine month operating results.
The consolidated financials for the nine month period ended September 30, 2016 include a full nine months of Blaze King’s
operations, and three months and seven days of Unicast operations, in which $9,966,150 of revenue was recorded. As expected, in the
third quarter Blaze King responded with increased sales activity as compared to the prior two quarters, as seasonal demand is
traditionally stronger in the third and fourth quarter of the year for Blaze King.
Blaze King began production of its new fireplace insert product in June, 2016. Overall market share in the wood
fireplace market for Blaze King has remained stable in 2016, and with the introduction of the Sirocco 25, is expected to grow. With
the introduction of the new cast iron fireplace insert, the Ashford 25, in Q1 2017, this growth is anticipated to continue through
2017. These two units represent a significant increase in product offering and an important step forward for Blaze King in terms of
customer desirability and design.
“As expected, Blaze King responded with a quarter on par with historic sales trends, which results in a
very positive outlook for the remainder of the year. Blaze King continues to follow seasonal selling trends and we look
forward to the final quarter of the year as we go into the traditionally strong fall and winter selling season,” said James
Paterson, CEO of Decisive. “With Unicast heading into their traditionally strong sales period in the first quarter of 2017,
we look forward to Unicast stabilizing our seasonal sales trends, and diversifying Decisive’s future financial results. Decisive
now moves forward as a stronger company with two solid divisions, while we continue our search to find new acquisition
targets to add to the Decisive family.”
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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