MONTREAL, May 24, 2018 (GLOBE NEWSWIRE) -- ATW Tech (“AtmanCo” or the “Company”) (TSX-V:ATW) announces its financial results for its 1st quarter ended March 31, 2018.

• For its first quarter of 2018, the Company generated revenues of $3,357k while compared to $2,727k for its first quarter of 2017, a year-over-year increase of $630k or 23%, and an increase of $79k in comparison to the previous quarter (Q4-17).
• For its first quarter of 2018, the Company generated positive cash flows from operations of $14k while compared to -$207k for Q1-2017 and -$191k for its previous quarter (Q4-17).
• As of March 31, 2018, the Company’s order book totalled $11,5m compared to $8.9m as of March 31, 2017 for a year-over-year increase of $2.6m or 30% and compared to $10.4m as of December 31, 2017 for an increase of $1.1m or 10%.

The selected financial information below originates from our 2018 first quarter management report:

« In our first quarter of 2018, we have continued to build on our momentum with our various organic growth projects launched in 2017 as demonstrated by our results for the first quarter of 2018. Those projects include new strategic partnerships such as those announced with Globalia and the Einsteinium Foundation and others that are also expected to be completed shortly. In addition, we continue to aggressively pursue our acquisition growth initiatives as part of our geographic expansion and diversification plan and its related financing initiatives », said President and CEO of ATW Tech, Michel Guay.

The above data includes a summary of highlights. For further information, please consult the Corporation’s consolidated financial statement as well as the Management Report for the year ended December 31, 2017 at www.sedar.com

Forward-Looking Statements Disclaimer

This press release contains forward-looking statements that reflect the Company’s current expectation regarding future events. There is a risk that expectations and forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on these forward-looking statements as they involve risks and uncertainties, which could make actual results differ materially from those projected herein and depend on a number of factors including, but not limited to, no history of profitability, future financing, intellectual property and patents, key personnel, competitive marketplace, technology obsolescence, share price volatility and other risks detailed from time to time in the Company’s filings. While ATW Tech anticipates that subsequent events and developments may cause its views to change, ATW Tech specifically disclaims any obligation to update these forward-looking statements, unless obligated to do so by applicable securities laws.

Additional information regarding the Company is available on SEDAR www.sedar.com. The TSX Venture Exchange and its Regulatory Services provider (as per meaning assigned to this term in TSX Venture Exchange’s policies) bear no liability as to the relevance or accuracy of this press release.

ABOUT ATW TECH

ATW Tech (‘AtmanCo’) (TSX-V:ATW) is a leader in information technology, owner of several web platforms including VoxTel, VuduMobile, Atman, Bloomed and Quebec Rencontres. VoxTel offers various interactive communication and landline and mobile carrier billing phone solutions. VuduMobile is specialized the text messaging business for enterprises through its unique, user-friendly and bilingual test messaging application et turnkey solution allowing management of text message management programs in all kind of businesses. Atman and its APIs enable companies to optimize their human capital. Bloomed is a cloud-based platform to manage data (smart data) on consumers and their behaviors, which is developed for marketing agencies and their campaigns for the consumer and corporate markets. Quebec Rencontres is a web and mobile social network application catered to building serious and sustainable relationships.