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.