TORONTO, ONTARIO--(Marketwired - March 31, 2014) - Tellza Communications Inc. (TSX:TEL) announced its audited financial results for the year ended December 31, 2013.
Revenue was $156 Million compared to $103 Million in 2012, a growth of 52%. Net Income was $2.4 million or $0.02/share compared to net income of $2.4 million or $0.02 in 2012. EBITDA* in 2013 was $4.0 million compared to $2.2 million in 2012, an increase of 80% or $1.8 million.
Tellza also completed 2013 with $3.0 Million in cash and an undrawn credit facility of $3.5 Million. Over the last 24 months, the Company has also acquired and cancelled 15.5 million common shares.
CONSOLIDATED STATEMENTS OF OPERATIONS |
[amounts in thousands of U.S. dollars, except per share information] |
Years ended December 31 | 2013 | 2012 | ||
$ | $ | |||
Revenue | 155,506 | 102,896 | ||
Cost of revenue | 146,904 | 95,850 | ||
Gross margin | 8,603 | 7,046 | ||
Operating expenses | 4,639 | 3,803 | ||
Depreciation of property and equipment | 127 | 120 | ||
Amortization of intangible assets | 556 | 850 | ||
Stock-based compensation | 12 | 53 | ||
Interest and debt costs | 33 | 160 | ||
Gain on retirement of debt | - | (260 | ) | |
Mark to fair value of common share warrants | - | (1 | ) | |
5,367 | 4,725 | |||
Income before income taxes | 3,236 | 2,321 | ||
Provision for (recovery of) income taxes | ||||
Current | 215 | 15 | ||
Deferred | 661 | (76 | ) | |
876 | (61 | ) | ||
Net and comprehensive income for the year | 2,360 | 2,382 | ||
Earnings per share | ||||
- basic and diluted | 0.02 | 0.02 | ||
Weighted-average number of common shares outstanding | ||||
- basic and diluted | 155,723,491 | 156,936,971 |
Balance sheet metrics ($'000's of US dollars) | 2013 | 2012 | ||
Cash and cash equivalents | $ | 2,990 | $ | 2,288 |
Total Assets | $ | 33,180 | $ | 21,794 |
Total Debt | Nil | Nil | ||
Total Shareholders' equity | $ | 17,576 | $ | 11,156 |
"We are pleased with our progress in 2013. We are excited about our recent acquisition of Matchcom and we are looking forward to continued growth in 2014. "Said Gary Clifford, Executive Chairman.
The Company's financial statements and other disclosures are available on SEDAR.
About Tellza
Tellza is a global communications company operating under several brands including Route Dynamix, Phonetime, Tel3, MatchCom and Tellza Technologies. Tellza is a public company listed on the Toronto Stock Exchange (TEL).
Caution Regarding Forward Looking Information:
This press release contains forward-looking statements, which may be identified by words like "expects", "anticipates", "plans", "intends", "indicates" or similar expressions. These statements are not a guarantee of future performance and are inherently subject to risks and uncertainties. Tellza's actual results could differ materially from those currently anticipated due to a number of factors set forth in reports and other documents filed by the Company with Canadian securities regulatory authorities from time to time. See www.sedar.com which contains all securities files.
*We define EBITDA as earnings before taxes, depreciation and amortization, stock based compensation, and interest. EBITDA, which is a non- GAAP financial measure, it is a standard measure used in the telecommunications industry to assist in understanding and comparing operating results. EBITDA is reviewed regularly by management and our Board of Directors in assessing performance and in making decisions regarding the ongoing operations of the business and the ability to generate cash flows. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with IFRS. EBITDA is not a measure of financial performance nor does it have a standardized meaning under IFRS. In evaluating these measures, investors should consider that the methodology applied in calculating as such measures may differ among companies and analysts. Below is a reconciliation of "EBITDA" to net income for the periods presented:
EBITDA Reconciliation | 2013 | 2012 | |||
Net Income before tax | 3,236 | 2,321 | |||
Interest and debt costs | 33 | - | |||
Stock-based compensation | 12 | 15 | |||
Amortization of intangible assets | 556 | (76 | ) | ||
Depreciation of property and equipment | 127 | (61 | ) | ||
EBITDA | $ | 3,963 | $ | 2,199 |
Contact Information:
Tellza Communications Inc.
Executive Chairman & CEO
+647 281 1831
gclifford@tellza.com
Michael Vazquez
Tellza Communications Inc.
President
+954-608-5058
mike@tellza.com