Click here to close now.




















Welcome!

News Feed Item

ACT360 Solutions Announces Financial Results for Quarter Ended December 31, 2013

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/25/14 -- ACT360 Solutions Ltd. (the "Company" or "ACT360 Solutions") (TSX VENTURE: AKM), a provider of Internet-based testing and international marketing programs for higher education, announced its unaudited financial results for the quarter ended December 31, 2013. Results are in Canadian dollars and were prepared in accordance with International Financial Reporting Standards.

Highlights for the first quarter:


--  Revenue growth of 32% compared to the prior year quarter;
--  Student Marketing Service revenue growth of 48% compared to the prior
    year quarter;
--  Acquisition of license to operate and monetize the websites
    www.learnhub.com and www.jumbotests.com with a combined total of 2.5
    million users and a substantial presence in India;
--  Loss of $24,598 resulting from the Company's decision to increase
    investment in global call center activities, online branding, and
    corporate development to support and accelerate the Company's long term
    growth objectives.

----------------------------------------------------------------------------
                                 Three Months Ended       Three Months Ended
                                  December 31, 2013        December 31, 2012
----------------------------------------------------------------------------
Sales                             $         298,472        $         226,110
----------------------------------------------------------------------------
Net Income (Loss)                 $         (24,598)       $          15,047
----------------------------------------------------------------------------
Earnings (Loss) per share         $           (0.00)       $            0.00
----------------------------------------------------------------------------
Total Assets                      $         448,795        $         294,039
----------------------------------------------------------------------------

For the three months ended December 31, 2013, the Company's revenue increased by 32% to $298,472 compared to revenue of $226,110 for the same period in the previous year.

Student Marketing Service revenue, derived from the Company's proprietary international student marketing platform, rose by 48% compared to the prior year quarter. Revenue growth resulted from increased marketing budget allocations from higher education clients targeting international students. Internet Application revenue rose by 19% as the Company sold more English tests and grading services through B2B channel partners.

On a consolidated basis for the three months ended December 31, 2013, the Company had a net loss of $24,598 on sales of $298,472 compared to a profit of $15,047 on sales of $226,110 during the same period in the previous year.

On a consolidated basis, expenses were $323,369 in the first quarter ended December 31, 2013 compared to $211,294 in the first quarter ended December 31, 2012, an increase of 53%. Selling, office, and general expenses were higher as the Company expanded its investments in online branding for its TestDEN.com website, global call center capability, and business development activities.

The unaudited consolidated financial statements and Management Discussion and Analysis for the quarter ended December 31, 2013 are available at www.sedar.com.

About ACT360 Solutions Ltd.

ACT360 Solutions helps colleges and universities qualify and recruit international students. We are committed to assisting students from South America, Europe, Africa, the Middle East, and Asia achieve their study abroad goals.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding revenue estimates and future plans and objectives of ACT360 Solutions Ltd. - are forward-looking statements that are subject to various risks and uncertainties. Forward-looking statements are based on current expectations and analyses, including the effects of anticipated product, service, and distribution changes and the potential benefits of such efforts and activities on the Company's results of operations in future periods. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

Neither 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 this release.

Contacts:
ACT360 Solutions Ltd.
Vincent Wong
President
(604) 638-1553, ext. 1
www.act360.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
"We specialize in testing. DevOps is all about continuous delivery and accelerating the delivery pipeline and there is no continuous delivery without testing," noted Marc Hornbeek, Sr. Solutions Architect at Spirent Communications, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
How do you securely enable access to your applications in AWS without exposing any attack surfaces? The answer is usually very complicated because application environments morph over time in response to growing requirements from your employee base, your partners and your customers. In his session at @DevOpsSummit, Haseeb Budhani, CEO and Co-founder of Soha, shared five common approaches that DevOps teams follow to secure access to applications deployed in AWS, Azure, etc., and the friction an...
"Alert Logic is a managed security service provider that basically deploys technologies, but we support those technologies with the people and process behind it," stated Stephen Coty, Chief Security Evangelist at Alert Logic, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, demonstrated the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He discussed from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT to tran...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of pro...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect t...
"Our biggest growth area has been the security services, the managed services - the things that differentiate us in the market that there is no client that's too small and there's no client that's too big," explained Paul Mazzucco, Chief Security Officer at TierPoint, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Containers are changing the security landscape for software development and deployment. As with any security solutions, security approaches that work for developers, operations personnel and security professionals is a requirement. In his session at DevOps Summit, Kevin Gilpin, CTO and Co-Founder of Conjur, will discuss various security considerations for container-based infrastructure and related DevOps workflows.