MONTREAL, QUEBEC--(Marketwired - July 25, 2016) - Alphinat Inc. (TSX VENTURE:NPA) announces a profit of $104,183 for the quarter ended May 31, 2016.
The current fiscal year is characterized by the results of the development plan that management started implementing a year ago.
For the 3-month period ended May 31, 2016, the Company recorded total revenue of $417,460 compared to $499,075 (restated) for the same period in 2015. For the 3-month period ended May 31, 2016, operating expenses amounted to $274,996 compared to $365,150 in 2015. The earnings for the period ended May 31, 2016 amounted to $104,183 compared to earnings (restated) of 86,673 for the 3-month period ended May 31, 2015.
For the 9-month period ended May 31, 2016, earnings amounted to $182,138, a $431,338 improvement as compared to the 9-month period ended May 31, 2015 where a net loss of $(249,200) was registered.
Alphinat's financial statements and Management's Discussion and Analysis for the quarter ending May 31, 2016 can be found on SEDAR, at www.sedar.com.
Alphinat is the creator of SmartGuide®, a next generation application development and deployment productivity toolset providing agility to leverage existing IT assets and lower costs for a one-stop delivery tool of Web and mobile enterprise applications from any back-end system.
Alphinat has been appointed by technology company peers to associate member at the Smart Cities Council(www.smartcitiescouncil.com).
Alphinat technology is also used in the healthcare, banking, insurance, telecommunications and other sectors, in modernising, automating and rendering cost-effective a number of business processes at a fraction of the cost associated with conventional customized solutions. For more details about Alphinat or its software suite, please visit www.alphinat.com.
Certain statements in this document, including those which express management's expectations or estimations with regard to the Company's future performance, constitute "forward-looking statements" as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. These include, but are not limited to, the Company's capacity to increase acceptance of its products on the market, and to penetrate new markets; the potential existence of defects or undetected problems in the Company's products; the Company's ability to manage its growth; the Company's ability to compete with others; potential commitments; maintaining the Company's intellectual property rights and defending against litigation putting those rights in question; the Company's reliance on the knowledge of its key personnel; and the Company's access to sufficient capital to finance its future needs. This is a partial and non-exhaustive list of factors that could bear on any of our forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. The Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company's Annual Report.
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.