Business
Decisive Dividend Corporation Reports Financial Results for the Three Months Ended March 31, 2020
(via TheNewswire) Kelowna, British Columbia - TheNewswire - May 14, 20...
About this update from Decisive Dividend Corp.
[{"type":"text","content":"Decisive Dividend Corporation Reports Financial Results for the Three Months Ended March 31, 2020(via TheNewswire)\n \n \n\n\nKelowna, British Columbia - TheNewswire - May 14, 2020 - Decisive Dividend Corporation (TSXV:DE) (the \"Company\" or \"Decisive\") reported its financial results for the three months ended March 31, 2020. All amounts are expressed in Canadian dollars. The Company's Q1 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 impact of COVID-19 and the global oil price decline stalled the progress made by our businesses through the first quarter. Even with the effects of these recent events, first quarter revenue, adjusted EBITDA, and profit showed considerable improvement over last year. We have now refocused our efforts toward preserving liquidity and financial strength to manage through this unpredictable global downturn and deal with unforeseen issues that may arise, which will leave us well positioned once the effects of these recent developments subside. I am very proud of the work being done throughout our organization as we manage through the pandemic. Our leadership teams have shown compassion and commitment to their businesses, their customers, and their employees, all while vigilantly following the recommendations of the applicable health authorities to prevent the spread of COVID-19. All of our businesses have been deemed essential services in the areas in which we operate, and we are fortunate that, at this time, our operating subsidiaries remain in low risk areas. 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. We also remain committed to paying a dividend over the long term and will resume payments when appropriate and prudent to do so.\" \n\n\n\n\n \n \n\nQ1 2020 Financial Highlights:\n\n \n\n- Sales increased by 31% relative to Q1 2019 to $12.9 million.\n\n\n\n- Gross profit increased by 24% relative to Q1 2019 to $4.7 million. \n\n\n\n- Adjusted EBITDA* increased by 113% relative to Q1 2019 to $1.7 million. \n\n\n\n- The overall loss increased ...