Business
Zedcor Inc. Announces Second Quarter Results for 2022 With Record MobileyeZ Security Tower Deployment, 69% Increase in Revenue, 55% Increase in Adjusted EBITDA and $0.02 Earnings Per Share
Calgary, Alberta--(Newsfile Corp. - August 16, 2022) - Zedcor Inc. (TSXV: ZDC) (the "Company")...
About this update from Zedcor Inc
[{"type":"text","content":"Zedcor Inc. Announces Second Quarter Results for 2022 With Record MobileyeZ Security Tower Deployment, 69% Increase in Revenue, 55% Increase in Adjusted EBITDA and $0.02 Earnings Per ShareCalgary, Alberta--(Newsfile Corp. - August 16, 2022) - Zedcor Inc. (TSXV: ZDC) (the \"Company\") today announced its financial and operating results for the three and six months ended June 30, 2022.Q2 2022 revenues increased to $5.3 million and the Company had net income of $1.5 million or $0.02 per share. This represented a 69% increase in revenues compared to Q2 2021 and reverses a net loss from June 2021. Both numbers are also a high point for Company as it continues to expand its security & surveillance business. Zedcor recorded $2.5 million of EBITDA from continuing operations and $1.6 million of adjusted EBITDA from continuing operations for the three months ended June 30, 2022. This compares to $1.1 million of adjusted EBITDA from continuing operations for the three months ended June 30, 2021. Subsequent to the end of the quarter, the Company signed leases to open equipment and servicing branches in Toronto and Ottawa, Ontario. This continues Zedcor's geographic expansion and allows the Company to service customers throughout eastern Canada. The Company already has 17 MobileyeZ deployed at customer sites in Ontario and will be allocating more equipment to that part of the country in the second half of the year.Financial and Operating Results for the three and six months ended June 30, 2022: Three months ended June 30  Six months ended June 30 (in $000s) 2022  2021  2022  2021 Revenue5,2563,1039,8875,790     EBITDA from continuing operations1,22,5101,0193,8511,987     Adjusted EBITDA from continuing operations1,21,6941,0193,0672,097     Adjusted EBIT1,2877(65)1,528475     Net income (loss) from continuing operations 1,529(935)1,957(1,341)     Net income loss from operations1,529(3,619)1,957(3,393)     Net income (loss) per share from continuing operations               Basic0.02(0.02)0.03(0.02)           Diluted 0.02  (0.02) 0.03  ...