Business
BSM Technologies reports 97% EBITDA growth in Q2 2013
TORONTO, May 21, 2013 /CNW/ - BSM Technologies Inc. ("BSM" or the "Company") (TSX-V: GPS), ...
About this update from Great Plains Metals Corp.
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, May 21, 2013 /CNW/ - BSM Technologies Inc. (\"BSM\" or the\n \"Company\") (TSX-V: GPS), a leading provider of remote monitoring, fleet management, fleet diagnostics and automated vehicle security systems, today announced financial and\n operating results for the three- and six-month periods ended March 31,\n 2013. All results are in Canadian dollars unless otherwise stated.\n\n\nQ2 2013 Financial Highlights ($ thousands except per share data)\n\n\nStrong revenue: total revenue of $4,502 represents a 20% increase over\n the same period in fiscal 2012.\n\nEBITDA: $789 for the quarter represents a 97% increase over the same\n period in fiscal 2012.\n\nHardware and other revenue of $2,065 represent a $704, or 52%, increase\n over the same period in fiscal 2012.\n\nDuring the quarter, BSM was awarded the following contracts, which were\n the main contributors to the significant increase in hardware and other\n revenue over the prior year period:\n\n\nA major Canadian educational institution ordered 585 units of the\n Sentinel solution.\n\nA major Canadian telecommunication company ordered 308 units of the\n Sentinel solution. The majority of the units ordered were dual mode.\n\nA major Canadian government agency ordered 340 units of the Sentinel\n solution.\n\nA major U.S.-based railroad company ordered an additional 467 units of\n the Sentinel solution. Pursuant to the order, the customer had equipped\n approximately 1,300 of their 10,000 vehicle fleet with the Sentinel\n solution.\n\nA major Canadian railroad company ordered an additional 370 units of the\n Sentinel solution.\n\nDuring the quarter, the following significant events occurred:\n\n\nOn February 28, 2013, the Company completed a fully marketed prospectus\n offering (the \"Offering\") of 6,160,665 common shares for gross proceeds\n of $8,625 at a price of $1.40 per common share. Net proceeds from the\n Offering were approximately $7,675. The agents received compensation\n options to acquire up to an aggregate of 431,246 common shares\n exercisable at a price of $1.40 per common share until February 28,\n 2014.\n\nOn March 18, 2013, the Company entered into a binding letter of intent\n with a private, arms-length company in the telematics industry\n (\"AcquireeCo\"), in connection with the acquisition by BSM of AcquireeCo\n (the \"Transaction\") from ...