Gatekeeper Achieves 113% Revenue and 147% Gross Profit Increase in Third Quarter

About this update from Gatekeeper Systems, Inc.

[{"type":"text","content":"Gatekeeper Achieves 113% Revenue and 147% Gross Profit Increase in Third Quarter(via Thenewswire.ca)\n \n \n\nAbbotsford, BC / TheNewswire / July 12th, 2016 - Gatekeeper Systems Inc. ('Gatekeeper' or the 'Company') (TSX.V:GSI; OTC: GKPRF; FSE: 1GK) announces that it has filed its financial statements and management's discussion and analysis for the three and nine months ended May 31, 2016, available for viewing on www.sedar.com. All figures are expressed in Canadian dollars unless otherwise stated. \n\n \n \nFinancial Highlights\n\n \n \n\n\n-Revenue during the three months ended May 31, 2016 increased by 113% and improved to $3,103,333 as compared to $1,455,537 during the three months ended May 31, 2015;\n\n\n\n \n \n\n\n-Revenue during the nine months ended May 31, 2016 increased by 66% and improved to $5,784,915 from $3,475,564 during the nine months ended May 31, 2015;\n\n\n\n \n \n\n\n-Gross profit during the three months ended May 31, 2016 increased by 147% and improved to $1,541,440 from $623,911 during the three months ended May 31, 2015;\n\n\n\n \n \n\n\n-Gross margins during the nine months ended May 31, 2016 improved to 50%, compared to 44% during the nine months ended May 31, 2015, representing a 6% gross profit margin increase;\n\n\n\n \n \n\n\n-As of May 31, 2016, the Company had cash and cash equivalents of $1,735,738 and working capital of $2,276,793;\n\n\n\n \n \n\n\n-Net income for the three months ended May 31, 2016 was $322,078, compared to a loss of $215,984 during the three months ended May 31, 2015; and\n\n\n\n \n \n\n\n-EBITDA for the three months and nine months ended May 31, 2016 were $362,154 and ($136,765), respectively.\n\n\n\n\n \nBUSINESS UPDATE\n\n\n\n \nDuring the third quarter, the following notable events occurred:\n\n\n \n\n\n-Secured $1.5 million USD non-dilutive credit facility;\n\n\n\n-Issued first citation under five-year revenue sharing contract at Jones County, GA;\n\n\n\n-Increased total number of cameras shipped by 51% compared to same period 2015; \n\n\n\n-Increased total number of mobile digital recorders shipped by 35% compared to same period 2015;\n\n\n\n-Stop-arm camera evaluation sites increased to 20 representing approximately 5,000 buses;\n\n\n\n-Completed new features for Traffic Infraction Management cloud software; and\n\n\n\n-Launched stop arm camera programs in Washington ...

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