Business
BSM Technologies Reports Quarterly Revenues of $1.4 Million; Gross Profits Increase by 220%
BSM Technologies Reports Quarterly Revenues of $1.4 Million; Gross Profits Increase by 220%.
About this update from Great Plains Metals Corp.
[{"type":"text","content":"\n\n\n\nWOODBRIDGE, ON, March 2 /CNW/ - BSM Technologies Inc, (GPS: TSXV)\n(http://www.bsmtechnologies.com)(the "Company") a leading provider of high\nsecurity vehicle tracking and surveillance solutions, is pleased to report\nthat revenues for the Quarter ended December 31, 2006 increased by 196% to\n$1,400,410, compared to $472,327 for the quarter ended December 31, 2005.\n\n\nFinancial highlights for the quarter ended December 31, 2006\n------------------------------------------------------------\n\n- revenue for the quarter increased to $1,400,410, an increase of 196%\n quarter over quarter;\n- gross profit for the quarter increased to $ 733,918, an increase of\n 220% quarter over quarter;\n- revenue arising from Canadian customers for the quarter ended\n December 31, 2006 increased to $1,205,032, compared with $353,954 for\n the quarter ended December 31, 2005, an increase of 241% quarter over\n quarter;\n\nOperating highlights for the Quarter\n------------------------------------\n\nThe following are significant highlights related to the quarter:\n\n- On October 5, 2006, the Company announced that it received a\n follow-up order from a Fortune 500 Canadian Transportation company.\n Total value of the contract is $200,000.\n- On November 16, 2006, the Company announced an order with an\n anonymous oil and gas company. Total value of the contract is\n $450,000.\n- On December 8, 2006, the Company announced that it has signed a\n non-binding Letter of Intent ("LOI") to acquire a European-based\n satellite telematics distribution company (the "Telematics\n Distributor") for cash consideration of approximately $2.5 million,\n of which approximately $0.5 million is subject to holdback.\n- On December 8, 2006, the company also announced that it has engaged a\n syndicate of agents, led by Clarus Securities Inc., in connection\n with a proposed private placement of subscription receipts for\n expected gross proceeds of between $3 million and $5 million.\n\n\nSubsequent to the quarter end, on January 4, 2007 the company announced\nclosing the private placement for gross proceeds of $ 4,494,000 and on\nFebruary 2, 2007, announced closing the acquisition of SecTrack NV\n("SecTrack"), a European-based satellite telematics distribution company.\n\n\nResults of operations\n\n\n---------------------...