Iplayco Corporation Limited Announces Audited Consolidated Financial Results for Fourth Quarter and Full Year Ended September 30, 2017; Provides Earnings Guidance for the First Quarter of 2018; Provides Earnings Guidance for the Full Year Ended September 30, 2018
December 05, 2017 at 02:34 pm
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Iplayco Corporation Limited announced audited consolidated financial results for fourth quarter and year ended September 30, 2017. For the quarter, sales decreased by 35.3% to $3,550,302 against $5,488,474 a year ago. The net loss amounted to $539,655 or net loss per share of $0.03 against net loss of $345,782 or net loss per share of $0.02 a year ago.
For the year, sales increased by 17.3% to $19,963,299 against $17,023,914 a year ago. Net income amounted to $917,286 or diluted net income per share of $0.04 against net loss of $955,151 or net loss per share of $0.05 a year ago.
For the quarter of 2018, the company expects the entirety of the $1 million in delayed sales to be realized in first quarter 2018. Similarly, a partial reversal of the unrealized foreign exchange loss can be expected, as the Canadian dollar has weakened significantly in the first quarter.
For the full year of 2018, the company expects in the business year through September 30, 2018, the Company foresees a substantial increase in sales being partially offset by a modest rise in overhead costs, the latter reflecting investment in the European operations acquired in October 2017. Net income is expected to increase.
Iplayco Corporation Ltd. is engaged in designing and supplying of indoor playgrounds for children. The Company operates in two segments: Manufacturing of play structures for children, from its production plants in Langley, British Columbia, Canada and Subic Bay, Philippines (Manufacturing), and Operating a family entertainment center in Langley, British Columbia, Canada (Family Entertainment Centre). Its indoor soft-play park for Billy Beez is a family entertainment center of approximately 2,316.79 square meters located in the Mall of Dhahran, Al Khobar, Saudi Arabia. The Company, through International Play Company Inc., offers both the individual air blower-based ballistics system/arena and the compressor powered pneumatic set-up. Its play products include Indoor Play, Air Trek, Ballistics Play, Theming, Outdoor Play, Outdoor Installs and Indoor Installs. Its ballistics arenas are all custom designed and include multiple levels, targets, ball fountains, ball dumps and ball movers.
Iplayco Corporation Limited Announces Audited Consolidated Financial Results for Fourth Quarter and Full Year Ended September 30, 2017; Provides Earnings Guidance for the First Quarter of 2018; Provides Earnings Guidance for the Full Year Ended September 30, 2018