Business
Decisive Dividend Corporation Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2019
(via TheNewswire) April 16, 2019 - TheNewswire - Kelowna, British Colu...
About this update from Decisive Dividend Corp.
[{"type":"text","content":"Decisive Dividend Corporation Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2019(via TheNewswire)\n \n \n\n\nApril 16, 2019 - TheNewswire - Kelowna, British Columbia - Decisive Dividend Corporation (TSXV:DE) (the \"Company\" or \"Decisive\") reported its financial results for the fourth quarter and year ended December 31, 2019. All amounts are expressed in Canadian dollars. The Company's unaudited interim condensed consolidated financial statements as well as its management's discussion and analysis (\"MD&A\") are posted on SEDAR and on Decisive's website.\n\n\n\nJames Paterson, Chief Executive Officer of Decisive, noted:\n\n\n\n\"The year-over-year progress made in 2019 over 2018 has been muted by the post year-end impact of COVID-19 and the global oil price rout. Due to the challenge in predicting the duration and depth that these recent events will have on the overall economy, we have refocused our efforts on preserving liquidity and financial strength to manage through this unpredictable global downturn. We remain very confident in the long-term prospects of each of our businesses and are fortunate that their operations are diversified in terms of the industries, customers, and geographies they serve. However, out of an abundance of caution, we made the decision to suspend our monthly dividend and all non-essential capital expenditures. These measures, together with cost reduction measures implemented throughout the group, will preserve financial strength and flexibility to deal with unforeseen issues that may arise and will leave us well positioned once the effects of these recent developments subside. We remain committed to paying a dividend over the long term and will resume payments when appropriate and prudent to do so. Our businesses continue to follow the recommendations of the applicable health authorities to prevent the spread of COVID-19 and we are fortunate that, at this time, our operating subsidiaries remain in low risk areas.\" \n\n\n\n\n \n \n\nQ4 2019 Financial Highlights:\n\n \n\n\n\n- Sales increased by 5% relative to Q4 2018 to $14.3 million.\n\n\n\n- Gross profit increased by 29% relative to Q4 2018 to $4.9 million. \n\n\n\n- Gross profit percent increased from 28% in Q4 2018 to 34% in Q4 2019. \n\n\n\n- Adjusted EBITDA* increased by 83% relative to Q4 2018 to $2.2 milli...