VANCOUVER, Aug. 19, 2015 /CNW/ - Tinkerine™ Studios
Ltd. (TSXV: TTD, FSE: WKN WB6B and OTC: TKSTF)
Tinkerine Studios Ltd. ("Tinkerine" or the "Company") is pleased
to announce its financial highlights for the three and six months
ended June 30, 2015. The
Corporation's unaudited interim financial statements and
management's discussion and analysis ("MD&A") for the three and
six months ended June 30, 2015 is
available on SEDAR at www.sedar.com and on the Company's website at
www.tinkerine.com.
Highlights
- Q2 2015 Revenue of $344,986, an
increase of 532% from Q2 2014 revenue of $54,603.
- Q2 2015 Gross Profit of $170,881,
an increase of 292% from Q2 2014 gross profit of $43,586.
- Continued to expand and strengthen the dealer network for our
DittoTM Pro product and made 60% of sales through
dealers in Q2 2015 up from 49% in Q1 2015.
- Tinkerine's Ditto Pro was recognized at CES Asia 2015 as the
best 3D printer product at the show, held in Shanghai in early June
2015.
- Completed the integration of our 3D printing software into
Adobe's Photoshop Creative Cloud 2015 release.
Financial Highlights
|
|
Q2
2015
|
|
Q2
2014
|
|
H1
2015
|
|
H1
2014
|
|
Revenue
|
|
$344,986
|
|
$54,603
|
|
$453,528
|
|
$140,261
|
|
Cost of Goods
Sold
|
|
$135,497
|
|
$11,017
|
|
$183,012
|
|
$29,933
|
|
Gross
Profit
|
|
$170,881
|
|
$43,586
|
|
$194,232
|
|
$111,527
|
|
Expenses
|
|
$510,957
|
|
$653,150
|
|
$1,062,932
|
|
$711,668
|
|
Net Income
(Loss)
|
|
($338,665)
|
|
($1,669,539)
|
|
($813,692)
|
|
($1,660,116)
|
Outlook
With additional dealers for Tinkerine's Ditto Pro and filament
being added, we are experiencing increased orders for each quarter
in 2015 underpinned by strong acceptance of our focus into the
STEAM (Science, Technology, Engineering, Arts and Mathematics)
educational field. Tinkerine continues to generate additional sales
through the introduction of the Tinkerine product line, which
includes its Ditto Pro 3D Printer, filament and its TinkerineU
online store.
Board Member Change
Tinkerine also announces John
Veltheer has resigned from its board of directors. Mr.
Veltheer was a director of the Company since prior to the RTO
transaction pursuant to which the Company acquired its operating
subsidiary, and now wishes to transition out to focus on his other
business endeavours. The Company is grateful for the counsel
and input Mr. Veltheer has provided over the past two years.
With Mr. Veltheer's resignation, the remaining board members
intend to embark on a transition to a board composed of a majority
of independent directors. The board, in consultation with
other stakeholders of the Company, is currently working to identify
appropriate potential candidates to serve as directors.
Neither the 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.
Certain information in this news release may constitute
forward-looking information. This information is based on current
expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results
might differ materially from results suggested in any
forward-looking statements. Tinkerine assumes no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to Tinkerine. Additional information identifying
risks and uncertainties is contained in Tinkerine's filings with
the Canadian securities regulators available at www.sedar.com.
Tinkerine and Ditto are registered trademarks of Tinkerine
Studios Ltd., all rights reserved.
SOURCE Tinkerine Studios Ltd.