Gatekeeper Reports First Quarter Results

About this update from Gatekeeper Systems, Inc.

[{"type":"text","content":"Gatekeeper Reports First Quarter Results(via TheNewswire)\n\n \nAbbotsford, BC / TheNewswire / January 29, 2018 - 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 months ended November 30, 2017, which are available for viewing on www.sedar.com. All figures are expressed in Canadian dollars unless otherwise stated. \n\n \n \nQ1 2018 Financial Highlights\n\n \n \n-Revenue during the three months ended November 30, 2017 increased by 5% to $1,429,899 when compared to $1,364,541 during the same period in the previous year;\n\n \n \n-Gross profit during the quarter increased by 35% to $770,620 when compared to $572,947 during the same period in the previous year;\n\n \n \n-Gross margin as a percentage of revenue improved to 54% for the quarter which compares to 42% for the same period in the previous year;\n\n \n \n-Net loss for the quarter was $340,715 which compares to a net loss of $277,200 for same period in the previous year. Excluding non-cash charges, the adjusted net loss was $236,094 for the quarter, which compares to an adjusted net loss of $255,538 for the same period in the previous year. This represented an 8% improvement year-over-year. The term \"adjusted net income\" refers to net income before non-cash charges such as depreciation, inventory write-down, and share-based payment expenses;\n\n \n \n-As at November 30, 2017, the Company had cash and cash equivalents of $6,191,125 and working capital of $7,625,565;\n\n \n \n-EBITDA for the three months ended November 30, 2017 was a loss of $322,222. \n\n\n \nBUSINESS UPDATE\n\n\n\n \nDuring the first quarter of fiscal 2018, the following notable events occurred:\n\n\n \n-Completed installation of Student Protector(TM) multi-lane stop-arm video enforcement cameras, equipped with the TIM(TM) technology, on Chattooga Country School District's school buses; \n\n\n \n-Strengthened the Board of Directors, appointing two senior transportation executives:\n\n\n \nMr. Charlie Bruce - Former COO First Group America and National Express,\n\n\n \nMr. David Stumpo - Former CEO Coast Mountain Bus (formerly BC Transit);\n\n\n \n-Appointed Gordon Clissold as Chief Financial Officer of the Company;\n\n\n \n-Number of cameras shipped increased...

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