Iplayco Announces Financial Results For The Third Quarter Ended June 30, 2010
August 05 2010 - 2:32PM
Marketwired
Iplayco Corporation Limited (TSX VENTURE: IPC) ("Iplayco" or the
"Company") today announced its financial results for the third
quarter ended June 30, 2010. All amounts are in Canadian dollars
unless otherwise noted.
This news release contains financial information derived from
Iplayco's unaudited interim consolidated financial statements for
the three and nine months ended June 30, 2010. More detailed
information can be found in the unaudited interim consolidated
financial statements and Management's Discussion and Analysis for
the three and nine months ended June 30, 2010, which are being
filed with the applicable Canadian regulatory authorities.
"The economic environment in our industry remains very
challenging, and we continue to expect that access to external
financing for many of our customers will remain tight throughout
2010. Our sales for the third quarter ended June 30, 2010 ("Q3-10")
decreased by 11.5% as compared to the second quarter ended March
31, 2010 ("Q2-10"), due primarily to lower sales from our
Manufacturing operations. Although sales in Q3-10 from our Family
Entertainment Centre operations were also lower than in Q2-10, we
are encouraged by the Centre's year-to-date sales and improved net
operating results," said Scott Forbes, President and Director of
Iplayco.
Sales from our Manufacturing operations generated 79.9% of our
total sales in Q3-10 compared to 79.1% in Q2-10, and decreased by
10.6% to $1,368,469, as compared to $1,530,242 in Q2-10. Sales from
our Family Entertainment Centre Operations generated 20.1% of our
total sales in Q3-10 compared to 20.9% in Q2-10 and decreased by
15.2% to $343,654 in Q3-10 compared to $405,024 in Q2-10.
Results for Q3-10 as compared to Q2-10
Sales for Q3-10 decreased by 11.5% to $1,712,123 compared to
$1,935,266 in Q2-10. Gross profit was 33.6% of sales in Q3-10,
compared to 33.3% in Q1-10. Operating expenses were $877,767, or
51.3% of sales, in Q3-10, compared to $879,129, or 45.4% of sales,
in Q2-10. Net loss in Q3-10 was $292,977, or a loss per share of
$0.03, compared to net loss of $169,676, or loss per share of $0.02
in Q2-10.
Results for the nine months ended June 30, 2010 and 2009
Sales for the nine months ended June 30, 2010 ("YTD - Q3-10")
decreased by 28.7% to $5,449,340 compared to $7,643,385 for the
nine months ended June 30, 2009 ("YTD - Q3-09"). Gross profit was
36.8% of sales for YTD - Q3-10, compared to 40.4% for YTD - Q3-09.
Operating expenses were $2,469,489, or 45.3% of sales for YTD -
Q3-10, compared to $3,113,133 or 40.7% of sales for YTD - Q3-09.
Net loss for YTD - Q3-10 was $417,171, or a loss per share of
$0.04, compared to net loss of $10,029, or a loss per share of
$0.00 for YTD - Q3-09.
ON BEHALF OF THE BOARD OF DIRECTORS
Scott Forbes, President and Director
About Iplayco Corporation Limited
Iplayco designs, manufactures and installs indoor and outdoor
play structures for children. Iplayco also owns and operates a
family entertainment centre ("The Great Escape") in Langley,
British Columbia. For more information, visit
www.iplaycoltd.com.
Cautionary Note Regarding Forward-looking Statements
This news release contains certain forward-looking statements.
All statements, other than statements of historical fact, included
herein, including without limitation statements regarding the
Company's business, results or future plans, are forward looking
statements that involve various risks and uncertainties. There can
be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations
are disclosed elsewhere in documents that are available to the
public.
Neither 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 this release.
Contacts: Iplayco Corporation Limited Max Liszkowski Chief
Financial Officer (604) 882-1188 ir@iplaycoltd.com
www.iplaycoltd.com
Iplayco (TSXV:IPC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Iplayco (TSXV:IPC)
Historical Stock Chart
From Jul 2023 to Jul 2024