(via Thenewswire.ca)
Kelowna, British Columbia / TheNewswire / May 31, 2016 - Decisive Dividend Corporation (TSX-V: DE) (the "Corporation") reported its financial results for the three month period-ended March 31, 2016. All amounts are in Canadian currency. The results have been posted on SEDAR and on our website.
Q1 2016 highlights:
-Revenues for the period, which included three months of operations for Blaze King for this quarter compared to only one month for Q1 2015, were $2,587,631
-Adjusted EBITDA for the quarter was $68,669, as defined in the Q1 MD&A
-As per seasonal trends, the first quarter resulted in a net loss of $133,338, or $(.04) per share, as compared to a loss of $125,429 or $(.05) per share in first quarter of 2015
-Dividends paid out during the first quarter were $.075 per share
-Blaze King received EPA approval April 6th,2016 to market new insert line
-The Company announced second acquisition - Unicast Inc. on May 2nd, 2016
The consolidated financials for the three month period ended March 31, 2016 include three months of Blaze King's operations, in which $2,587,631 of revenue was recorded. As expected, the first quarter experienced much lower sales than the previous two quarters, as seasonal demand is traditionally stronger in the third and fourth quarter of the year.
On April 6th, 2016, management received the final certification letter from the EPA regarding the new Sirocco 25 fireplace insert. Testing has showed that the Sirocco model achieved an emissions level of 0.9 grams per hour, well below the 2020 requirements. The fireplace insert will now be marketed with first delivery of product to dealers commencing in June, 2016.
On May 2nd, 2016, the Company announced its proposed acquisition of Unicast Inc. ("Unicast"), a company based in Kelowna, British Columbia which designs, manufactures and markets wear parts for the mining, aggregate and cement industries.
Closing is anticipated to occur on or about June 17, 2016 and is subject to a number of closing conditions, including the successful completion of the Private Placement and the Debt Financing, as well as receipt of the approval of the TSXV.
"We are pleased with the financial results for the quarter as Blaze King continues to follow seasonal selling trends and we look forward to the introduction of the new insert into the market place," said James Paterson, CEO of Decisive. "We are focused on closing the Unicast transaction and moving forward as a strong company with two solid divisions creating shareholder wealth and continual monthly dividend income for our shareholders."
About Decisive Dividend Corporation
Decisive Dividend Corporation is an acquisition-oriented company, focusing on the manufacturing sector. The Corporation uses a disciplined acquisition strategy to identify already profitable, established companies that have strong management teams, generate steady cash flow, operate in non-cyclical markets, and have opportunity for future growth.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this News Release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mr. David Redekop, Director and Chief Financial Officer
#104, 1420 St. Paul Street
Kelowna, BC V1Y 2E6
Telephone: (250) 870-9146
Cautionary Statements
This press release contains forward-looking statements. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information.
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