Welcome!

News Feed Item

GuestLogix Reports Q2 and Continues Quarter Over Quarter Record Revenue Growth

Recurring Revenue Jumps 14% on Quarter Over Quarter Basis as New Deployments Come Online

TORONTO, ONTARIO -- (Marketwired) -- 08/11/14 -- GuestLogix Inc. (TSX:GXI), the leading global provider of ancillary-focused merchandising, payment and business intelligence technology to airlines and the passenger travel industry, today announced its financial and operational results for the three-month period ended June 30, 2014. All financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS") and reported in U.S. dollars.

"GuestLogix achieved its highest revenue results in the Company's history and for the first time has exceeded the $1 billion gross transaction value run-rate, illustrating that we continue to execute on our growth strategies in each of our regions and work towards GuestLogix' true breakthrough quarter," said Brett Proud, President & CEO, GuestLogix. "When excluding certain costs in the quarter, the Company delivered an adjusted EBITDA result of $0.5 million and continues to see improvement in our operating margin. As we remain in good position to transition to become more of a software-based transaction processor, we are confident that GuestLogix is already showing strong signs of profitability on the horizon."

Q2 F2014 Financial Summary


--  Revenue of $9.0 million, compared to $7.2 million in Q2 F2013. 
    
--  Operating Expenses of $5.5 million, compared to $3.8 million in Q2
    F2013. 
    
--  Adjusted EBITDA((1))of $369 thousand, compared to $690 thousand in Q2
    F2013. 
    
--  Net loss of $(1.7) million, compared to a net income of $0.8 million in
    Q2 F2013. 
    
--  Cash of $7.5 million as at June 30, 2014. 
    

Proud continued, "We are also seeing improvement in our recurring revenue line as deployments are coming online, proving the growth we are seeing quarter over quarter is secure. In addition, our teams around the world continue to acquire lucrative new accounts that are adding sustainability to the Company as a whole."

Q2 F2014 Operational Highlights

Increasing the Number of Transactions that we process


--  Deployed retail solution onboard Europe's largest regional airline,
    Flybe for both food & beverage and duty-free sales 
    
--  Signed multi-year agreement with industry's largest independent airport
    lounge operator, Priority Travel Group 
    
--  Signed multi-year agreement with Southeast Asian airline through
    partnership with Inflight Sales Group 
    
--  Signed multi-year agreement with Japanese airline through partnership
    with Inflight Sales Group 
    
--  Signed multi-year agreement with second Southeast airline within the
    quarter with Inflight Sales Group 
    
--  Signed multi-year renewal agreement with UK's Facilities Partner Ltd for
    continued use of its retail system onboard UK-based rail operator 
    
--  Deployed retail solution onboard Primera Air through partnership with
    Servair 
    
--  Subsequent to quarter end, signed multi-year renewal agreement with
    world's largest low-cost carrier Southwest Airlines 
    

Increasing the Average Transaction Value


--  Agreement with Priority Travel Group focuses on lounge guest passes
    which has a higher average transaction value than traditional food and
    beverage purchases onboard 
    

Earning More Fees per Transaction


--  All three Asia Pacific agreements, in partnership with Inflight Sales
    Group includes Ancillary Insights platform 
    
--  Renewal agreement with Southwest Airlines includes Ancillary Insights
    platform 
    

Financial Summary


----------------------------------------------------------------------------
                                                  Q2          Q1          Q2
                                               F2014       F2014       F2013
----------------------------------------------------------------------------
Revenue                                      $  9.0M     $  8.5M     $  7.2M
----------------------------------------------------------------------------
Gross Margin                                 $  4.5M     $  4.1M     $  3.5M
----------------------------------------------------------------------------
Adjusted EBITDA                              $  0.4M     $  0.1M     $  0.7M
----------------------------------------------------------------------------
Net (Loss) Profit                            $ (1.7M)    $ (0.7M)    $  0.8M
----------------------------------------------------------------------------
Net (Loss) Profit Per Share                  $ (0.02)    $ (0.01)    $   0.1
----------------------------------------------------------------------------

Q2 F2014 Conference Call Details

GuestLogix will host a conference call on Monday, August 11, 2014 at 4:30 p.m. Eastern Time to discuss its fiscal 2014 second quarter financial and operational results as well as the Company's outlook for the remainder of the fiscal year. To access the conference call, please dial 862-255-5351, or 1-888-390-3967. A replay of the call will be available at http://www.guestlogix.com/events.html.

A complete set of financial statements and Management's Discussion and Analysis for the three-month period ended June 30, 2014 will be available at www.sedar.com and www.guestlogix.com

(1) Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortization, foreign exchange, stock-based compensation and change in fair value of derivative warrant liability.

About GuestLogix

GuestLogix Inc. (TSX:GXI), is a global leader in comprehensive merchandising, payment and business intelligence technology delivered to the passenger travel industry, both onboard and off board. Bringing over a decade of expertise as the industry's most trusted onboard transaction processing partner to airlines, rail operators and elsewhere in the passenger travel industry, GuestLogix powers the industry's growing reliance on ancillary revenue generation. Both direct to operators as well as through partnerships with global leaders in catering, duty-free, inflight entertainment and self-service retail experts, the Company provides the payment services touching over 1 billion travelling consumers each year. GuestLogix' global headquarters and centre for product innovation is located in Toronto, with regional head offices located in Dallas, London and Hong Kong. More information is available at www.guestlogix.com.

© 2014 GuestLogix. All Rights Reserved.

Forward-Looking Statements

This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GuestLogix' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect GuestLogix' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Filing Statement filed on August 11, 2014 with the regulatory authorities. GuestLogix assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

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
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTred processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
As pervasive as cloud technology is -- and as persuasive as the arguments are for using it -- the cloud has its limits. Some companies will always have security concerns about storing data in the cloud and certain high-transaction applications will always be better suited for on-premises storage. Those statements were among the bottom-line takeaways delivered at Cloud Expo this week, a three day, bi-annual event focused on cloud technologies, adoption and associated challenges.
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
Quickly find the root cause of complex database problems slowing down your applications. Up to 88% of all application performance issues are related to the database. DPA’s unique response time analysis shows you exactly what needs fixing - in four clicks or less. Optimize performance anywhere. Database Performance Analyzer monitors on-premises, on VMware®, and in the Cloud, including Amazon® AWS and Azure™ virtual machines.
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...