Use of Cloud Computing and Virtualization in the Time of Recession

Cloud Computing on Ulitzer

Subscribe to Cloud Computing on Ulitzer: eMailAlertsEmail Alerts newslettersWeekly Newsletters
Get Cloud Computing on Ulitzer: homepageHomepage mobileMobile rssRSS facebookFacebook twitterTwitter linkedinLinkedIn


Cloud Computing Authors: Shelly Palmer, Elizabeth White, Karthick Viswanathan, Pat Romanski, Liz McMillan

Related Topics: CEOs in Technology, Cloud Computing, Government News, Telecom Innovation, Java in the Cloud

News Feed Item

GINSMS Announces Financial Results for the Three Months Ended June 30, 2014

CALGARY, ALBERTA -- (Marketwired) -- 08/29/14 -- GINSMS Inc. (TSX VENTURE:GOK) (the "Company") has announced its financial results for the first quarter ended June 30, 2014.

The complete financial results for GINSMS are available at www.sedar.com. Highlights include:

--  Revenue of $333,103 for the three month period ended June 30, 2014 as
    compared to $445,584 for the three month period ended June 30, 2013. 
--  Gross Profit of $54,066 for the three month period ended June 30, 2014
    as compared to $285,140 for the three month period ended June 30, 2013. 
--  Selling, general and administrative expenses decreased from $381,157 for
    the three month period ended June 30, 2013 as compared to $355,445 for
    the quarter ended June 30, 2014.  
--  Net loss of $732,425 for three month period ended June 30, 2014 as
    compared to a net loss of $373,110 for the three month period ended June
    30, 2013. 
--  New A2P SMS Service that was introduced in March 27, 2014 generated
    revenue of $78,115 for the three months ended June 30, 2014 and is
    expected to contribute significantly to the Company's revenue in the
    future. 

Selected Profit and Loss Information                                        
                                                                            
----------------------------------------------------------------------------
                         Three-month period ended  Twelve-month period ended
                                         June 30,                  March 31,
Financial Highlights                  (Unaudited)                  (Audited)
----------------------------------------------------------------------------
                                2014         2013          2014         2013
Revenues $                                                                  
A2P SMS Service               78,115            -             -            -
IOSMS                         24,179       36,738       129,360      549,328
S/W Product & Services       230,809      408,846     1,001,427      753,587
                       -----------------------------------------------------
                             333,103      445,584     1,130,787    1,302,915
                       -----------------------------------------------------
                                                                            
Cost of sales $                                                             
A2P SMS Service               73,050            -             -             
IOSMS                         43,044       57,124       215,566      275,853
S/W Products & Services      162,943      103,320       366,204      153,675
                       -----------------------------------------------------
                             279,037      160,444       581,770      429,528
                       -----------------------------------------------------
Gross profit $                                                              
A2P SMS Service                5,065            -             -            -
IOSMS                       (18,865)     (20,386)      (86,206)      273,475
S/W Products & Services       67,866      305,526       635,223      599,912
                       -----------------------------------------------------
                              54,066      285,140       549,017      873,387
                       -----------------------------------------------------
Gross margin %                                                              
A2P SMS Service                 9.4%            -             -            -
IOSMS                        (34.9)%       (7.1)%       (15.7)%        31.3%
S/W Products & Services       125.5%       107.1%        115.7%        68.7%
                       -----------------------------------------------------
                              100.0%       100.0%        100.0%       100.0%
                       -----------------------------------------------------
                                                                            
EBITDA $                   (245,596)      137,910   (1,172,108)    (561,057)
EBITDA margin                (73.7)%        31.0%      (103.7)%      (43.1)%
----------------------------------------------------------------------------
Net earnings $             (732,425)    (373,110)   (2,972,208)  (1,534,662)
Net earnings margin         (219.9)%      (83.7)%      (262.8)%     (117.8)%
----------------------------------------------------------------------------
Net earnings (loss) per                                                     
 share $                                                                    
----------------------------------------------------------------------------
  Basic                       (0.01)       (0.01)        (0.06)       (0.04)
----------------------------------------------------------------------------
  Diluted                     (0.01)       (0.01)        (0.06)       (0.04)
----------------------------------------------------------------------------
  (1) EBITDA is a non-GAAP measure related to cash earnings and is defined  
      for these purposes as earnings before income taxes, depreciation &    
      amortization (in both cost of sales and general and administration    
      expenses) and the accretion on obligations.                           

About GINSMS

GINSMS is a mobile technology and services company focusing on 3 areas namely cloud-based application-to-peer messaging service ("A2P SMS Service"), inter-operator short messaging services ("IOSMS") and Software Product & Services. GINSMS conducts research and development and also establishes partnerships to develop and distribute innovative software products and services globally. Through its wholly owned subsidiaries in Singapore, Hong Kong, Malaysia and Indonesia, GINSMS has successfully deployed more than 100 solutions globally. GINSMS also operates an IOSMS hub that provides inter-operator messaging services to mobile telecom operators in Hong Kong and an A2P SMS Service messaging service that allows the termination of SMS to mobile subscribers of more than 100 mobile operators globally.

Forward Looking Statements

This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GINSMS' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to GINSMS or its management. The forward-looking statements are not historical facts, but reflect GINSMS' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks Factors" in GINSMS' Filing Statement filed on August 29, 2012 with the regulatory authorities. GINSMS 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 required by law.

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.

Contacts:
GINSMS Inc.
Joel Chin
CEO
+65-6441-1029
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.