Gatekeeper Systems News Releases Fiscal 2017 Financials

About this update from Gatekeeper Systems, Inc.

[{"type":"text","content":"Gatekeeper Systems News Releases Fiscal 2017 Financials(via TheNewswire)\n\n \nAbbotsford, BC / TheNewswire / December 29, 2017 - Gatekeeper Systems Inc. ('Gatekeeper' or the 'Company') (TSX.V:GSI; OTC: GKPRF; FSE: 1GK) announces that it has filed its audited financial statements and management's discussion and analysis for the fiscal year ended August 31, 2017, 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-Revenues in fiscal 2017 was $7,605,107 compared to $9,899,875 in fiscal 2016;\n\n \n \n-Net loss for the fiscal year end 2017 was $331,759 compared to a net income of $695,566 during the fiscal year 2016;\n\n \n \n-Gross margin as a percentage of revenue in fiscal 2017 remained at 51%;\n\n \n \n-Revenue during the three months ended August 31, 2017 was $2,651,543 compared to $4,114,960 during the three months ended August 31, 2016;\n\n \n \n-Gross profit during the three months ended August 31, 2017 was $1,420,902 compared to $2,170,440 during the three months ended August 31, 2016;\n\n \n \n-EBITDA for the three months and fiscal year end August 31, 2017 was $131,067 and ($252,305), respectively; and\n\n \n \n-As of August 31, 2017, the Company had cash and cash equivalents of $6,312,093 and working capital of $7,840,380.\n\n \n \nBUSINESS UPDATE\n\n\n\n \nDuring the fourth quarter, the following notable events occurred:\n\n\n \n-Entered into a contract for Transit Video Surveillance system with St. John's Transportation Commission Newfoundland, through HiTech Communications;\n\n\n \n-Entered into a five-year recurring revenue contract for stop-arm cameras with Chattooga County School District;\n\n\n \n-Sales from customers over $100,000 in 2017 to 19 customers worth approximately $3.5 million compared to 22 customers and approximately $6.4 million in 2016; and\n\n\n \n-The number of stop-arm camera evaluation sites remains at twenty-four, involving 1,862 buses owned by various school districts.\n\n \n \nThe Company's base business continued to support sales in the fourth fiscal quarter reaching a level of over $2.65 million. The sales decrease is primarily due to the timing of certain sales contracts expected to land in the fourth quarter, but have been delayed for various reasons.\n\n \n \nThe current number of stop-ar...

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