Mission Ready Services Inc. Announces Filing of 2014 First Quarter Financials, MD&A and Certification of Annual Filings on SE...
June 02 2014 - 4:32PM
Access Wire
Highlights:
-10-20 Services Inc. achieves 5
consecutive quarters of increased revenues
-31% increase in consolidated
revenues over same period last year
-Net loss consistent with 2013
Q4 loss
VANCOUVER,
BC / ACCESSWIRE / June 2,
2014 / Mission Ready Services Inc. (TSX-V: MRS) - Mission Ready
Services Inc. ("Mission Ready" or "MRSI") announces that its
quarterly audited financial statements, related Management's
Discussion and Analysis ("MD&A") and National Instrument ("NI")
52-109FV1 reports for the period ended March 31, 2013 were filed on
SEDAR on May 30, 2014. The financial statements, associated
MD&A and Certification of Annual Filings are available on SEDAR
at www.sedar.com.
MRSI is continuing to expand
its business through each of its operating divisions. 10-20
Services Inc., which launched its inspection, cleaning and repair
services for US military personal protective equipment and
individual clothing items in the fall of 2012 has successfully
increased revenues in each of the last five consecutive quarters.
On a consolidated basis, MRSI's revenues have increased 31% over
the same period in 2013.
Net losses on a consolidated
basis remained at the same level as the 2013 fourth quarter. The
net loss is an increase in the quarter over the same period in
2013. The loss is primarily due to increased labour costs as the
Company builds its business development team and product
development efforts and due to a client of Protect The Force being
delayed in shipping their products until the beginning of the
second quarter of 2014 (see news release NR# 2014-11 and NR#
2014-07).
About Mission Ready
MRSI was formed to meet a critical
need of one of the world's largest customers, the US Government and
in particular the Departments of Defence, Homeland Security and
Justice and various other agencies such as law enforcement, first
responders and the many others worldwide that help to safeguard our
health and security.
Headquartered in Vancouver,
BC, MRSI has three distinct, synergistic operating
divisions:
-Strategic
consulting services and manufacturers representation
-Equipment
inspection, cleaning/decontamination and repair services of
personal protection equipment
-Product research
and development
MRSI's mission is to save lives and
enhance the performance of military personnel, first responders,
and those who protect us by working to ensure they are equipped
with the best possible personal protective equipment.
MRSI's management team offers over
100 years of combined industry experience and is composed of
industry experts in developing products, contracting, and selling
to the federal government, first responders and tactical markets
through open market procurements, teaming arrangements, and a
variety of federal contract tools.
For further information, visit
the Company's website at MissionReady.ca or
contact:
Terry Nixon - Director, Corporate Communications
Telephone: 1.877.479.7778
Investor Relations
1-866-684-6730
mrs@kincommunications.com
www.kincommunications.com
Mission Ready Services Inc.
(signed "Rod
Reum")
Rod Reum,
President & CEO
This news release contains
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Generally, forward-looking
information can be identified by the use of forward-looking
terminology such as "anticipate", "believe", "plan", "expect",
"intend", "estimate", "forecast", "project", "budget", "schedule",
"may", "will", "could", "might", "should" or variations of such
words or similar words or expressions. Forward-looking information
is based on reasonable assumptions that have been made by Mission
Ready Services Inc. as at the date of such information and is
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Mission Ready Services Inc. to be materially
different from those expressed or implied by such forward-looking
information.
Forward-looking statements are
based on assumptions management believes to be reasonable. Although
Mission Ready Services Inc. has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on
forward-looking information. Mission Ready Services Inc. does not
undertake to update any forward-looking information that is
included herein, except in accordance with applicable securities
laws.
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.
SOURCE: Mission Ready Services Inc.
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