Canada NewsWire
TORONTO, Aug. 25, 2017
TORONTO, Aug. 25, 2017 /CNW/ - Prodigy Ventures Inc. (TSXV: PGV) ("Prodigy" or the "Company") today announced the results for the three and six months ended June 30, 2017.
"With another successive quarter of record revenues, Prodigy continues its profitable growth, fuelled by our innovation successes with our clients," said Tom Beckerman, Prodigy's CEO. "Our sales and marketing efforts have established important new client relationships, expanded our pipeline, and increased our capacity for extended growth. Our increased sales and marketing, R&D and advisory expenses reduced our net income for Q2, but position us well for the future. Our working capital position improved in the first half of this fiscal year, enabling the Company to retire its remaining loans. Prodigy is now debt free."
Year-to-Date 2017 Financial Results
Second Quarter 2017 Financial Results
Three months ended |
Six months ended | |||
2017 $ |
2016 $ |
2017 $ |
2016 $ | |
Revenue |
3,107,656 |
2,707,311 |
6,170,964 |
5,404,578 |
Gross Profit |
957,343 |
861,765 |
1,946,727 |
1,865,090 |
Expenses |
791,278 |
559,236 |
1,544,127 |
1,049,243 |
Net and comprehensive income for the period |
116,515 |
216,853 |
285,684 |
589,156 |
Net income per share – basic and diluted |
0.00 |
0.00 |
0.00 |
0.01 |
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.
About Prodigy Ventures Inc.
Prodigy Ventures is an innovation company that has combined an enterprise services business - Prodigy Labs - with a Venture Builder business. The two businesses work together to sell services and create new enterprise-grade platforms and apps using technologies such as mobile video, proximity, wearables, 3D & augmented reality.
Prodigy has been named as one of Canada's fastest growing technology companies in the 19th annual Deloitte Technology Fast 50™ awards for demonstrating bold innovation, dedicated leadership and strong growth. Prodigy also ranked on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America.
Forward-Looking Statements
Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the Company's expectations with respect to revenue growth and cash flow for certain products or services.. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company's Management's Discussion and Analysis for the three and six months ended June 30, 2017, a copy of which is filed on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.
SOURCE Prodigy Ventures Inc.
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