Langley, BC / TheNewswire / August 23, 2017/ Iplayco Corporation Limited (TSX VENTURE: IPC) (“Iplayco” or the “Corporation”) announces financial results for its third quarter ended June 30, 2017. All amounts are in Canadian dollars unless otherwise noted.

This news release contains financial information derived from Iplayco’s unaudited condensed consolidated interim financial statements for the three and nine months ended June 30, 2017. More detailed information can be found in the unaudited condensed consolidated interim financial statements and Management’s Discussion and Analysis for the three and nine months ended June 30, 2017, which are being filed with the applicable Canadian regulatory authorities.

“Sales increased by 19.5% to $5,513,365 for the three months ended June 30, 2017 (“Q3-17”) from

$4,612,437 for the three months ended June 30, 2016 (“Q3-16”). Our gross profit percentage increased to 45.0% in Q3-17 as compared to 31.7% in Q3-16. Although Q3-17 resulted in higher than anticipated sales and net income, we expect a moderate decrease in sales and net operating results for our fourth quarter ending September 30, 2017 as compared to Q3-17, due primarily to production scheduling and delivery of certain sales orders” said Scott Forbes, President & Chief Executive Officer and Director of Iplayco.

 

Results for the three months ended June 30, 2017 (“Q3-17”) as compared to the three months ended June 30, 2016 (“Q3-16”)

Sales increased by 19.5% to $5,513,365 in Q3-17 from $4,612,437 in Q3-16. Gross profit percentage increased to 45.0% of sales in Q3-17 from 31.7% in Q3-16. Operating expenses, including foreign exchange gains and losses and finance costs, increased to $1,876,445, or 34.0% of sales, in Q3-17 from $1,312,138, or 28.4% of sales, in Q3-16. Net income amounted to $438,936, or diluted net income per share of $0.02, in Q3-17 as compared to net income of $98,610, or diluted net income per share of $0.00, in Q3-16.

 

Results for the three months ended June 30, 2017 (“Q3-17”) as compared to the three months ended March 31, 2017 (“Q2-17”)

Sales increased by 50.2% to $5,513,365 in Q3-17 from $3,670,669 in Q2-17. Gross profit percentage decreased to 45.0% of sales in Q3-17 from 50.5% in Q2-17. Operating expenses, including foreign exchange gains and losses and finance costs, increased to $1,876,445, or 34.0% of sales, in Q3-17 from $1,765,090, or 48.1% of sales, in Q2-17. Net income amounted to $438,936, or diluted net income per share of $0.02, in Q3-17, as compared to net income of $58,796, or diluted net income per share of $0.00, in Q2-17.

 

Results for the nine months ended June 30, 2017 (“YTD – Q3-17”) as compared to the nine months ended June 30, 2016 (“YTD – Q3-16”)

Sales increased by 42.3% to $16,412,997 for YTD – Q3-17 from $11,535,440 for YTD – Q3-16. Gross profit percentage increased to 43.9% of sales for YTD – Q3-17 from 33.3% for YTD – Q3-16. Operating expenses, including foreign exchange gains and losses and finance costs, increased to

$5,190,723 or 31.6% of sales for YTD – Q3-17 from $4,630,906 or 40.1% of sales for YTD – Q3-16. Net income amounted to $1,456,941, or diluted net income per share of $0.07, for YTD – Q3-17 as compared to a net loss of $609,369, or net loss per share of $0.03, for YTD – Q3-16.

 

About Iplayco Corporation Limited

Iplayco is a global leader in the design and supply of premium-quality, fun, safe and durable indoor playgrounds for children. In its 18-year history, Iplayco has sold over 3,000 playgrounds to over 60 countries worldwide. For more information, please visit www.iplaycoltd.com.

  

Follow Iplayco Online

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YouTube:        https://www.youtube.com/user/Iplayco LinkedIn:        https://www.linkedin.com/groups/4119194 RSS:        http://www.iplaycoltd.com/Rss.html

 

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 Corporation’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 Corporation’s expectations are disclosed elsewhere in documents that are available to the public.

 

For more information, please contact:

Iplayco Corporation Limited Max Liszkowski

Chief Financial Officer and Corporate Secretary (604) 607-1111

ir@iplayco.com

 

This announcement is for informational purposes only and does not constitute an offer to purchase, a solicitation of an offer to sell the shares or a solicitation of a proxy.

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.