|By Marketwired .||
|October 19, 2016 08:30 AM EDT|
TORONTO, ONTARIO -- (Marketwired) -- 10/19/16 -- Microbix Biosystems Inc. (TSX: MBX), an innovator of biological products and technologies, today announced preliminary revenue results (unaudited) for its fourth quarter and full year ending September 30, 2016. The preliminary results are subject to the Company's annual audit including a review of its revenue recognition policies under IFRS. The Company's audited financial results will be available towards the end of December 2016.
Fourth Quarter Preliminary Revenue Highlights:
The Company expects the following revenue for the fourth quarter ending September 30, 2016:
-- Total Revenue in the range of $3.3 million compared to $2.1 million in Q4, F2015, or an increase of 57% compared to last year. -- Virology Revenue in the range of $3.3 million compared to $1.6 million in Q4, F2015, or an increase of 106% compared to last year.
Fiscal 2016 Preliminary Revenue Highlights:
The Company expects the following Revenue for the fiscal year ending September 30, 2016:
-- Total Revenue in the range of $9.3 million compared to $8.9 million in fiscal 2015, or an increase of 4% compared to last year. -- Virology Revenue in the range of $9.3 million compared to $8.2 million in fiscal 2015, or an increase of 13% compared to last year.
Fourth quarter revenue in F2015 included a one-time license fee of $0.5 million; net of this fee Virology revenue was $1.6 million, reflecting significantly lower demand from a large diagnostics customer that continued through the end of the first quarter of fiscal 2016. Revenue in the fourth quarter of F2016 was double the prior year due to strong demand from several large customers; and it exceeded the previous record for quarterly revenue of $2.7 million in the second quarter of fiscal 2016, or an increase of 22%.
Vaughn Embro-Pantalony, President and CEO of Microbix commented, "I am pleased to report that our preliminary fiscal 2016 revenue is the highest in the Company's history and represents a double-digit increase in Virology revenue compared to last year. Despite a weak first quarter, we have delivered three consecutive quarters of exceptionally strong sales, including successive records in the second and fourth quarters of fiscal 2016. It is also encouraging that our growth is consistent across most of our customer base and all product groups."
Embro-Pantalony continued, "In terms of fiscal 2017, we are planning for continued solid sales growth based on current order projections by our customers. I will provide additional information on our outlook for next year when we report final audited results for fiscal 2016 in December."
About Microbix Biosystems
Microbix Biosystems Inc. specializes in the research and development of biological solutions. This includes products for human health applications in the therapeutic and diagnostic markets and a product for the worldwide animal reproduction market. In its revenue generating business, the Company's virology products are at the core of the world's leading infectious disease diagnostics and quality control programs. The Company's pipeline of innovative technologies and products includes, Kinlytic, a thrombolytic drug with several approved and potential applications including the treatment of life-threatening blood clots, and the LumiSort semen sexing technology for the livestock industries. Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange, and headquartered in Mississauga, Ontario.
This news release includes "forward-looking information," as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, the risks associated with its revenue business, development projects, operations in foreign jurisdictions, engineering and construction generally, production (including control over costs, quality, quantity and timeliness of delivery of products), foreign currency and exchange rates, maintaining adequate working capital and raising further capital on acceptable terms or at all, and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and represent the Company's judgement as of the date of this new release, and the Company is under no obligation to update or alter any forward-looking information.
Please visit www.sedar.com for recent Microbix Biosystems Inc. filings.
For further information, please visit www.microbix.com.
"Avere Systems is a hybrid cloud solution provider. We have customers that want to use cloud storage and we have customers that want to take advantage of cloud compute," explained Rebecca Thompson, VP of Marketing at Avere Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Oct. 23, 2016 10:00 AM EDT Reads: 3,988
Apache Hadoop is a key technology for gaining business insights from your Big Data, but the penetration into enterprises is shockingly low. In fact, Apache Hadoop and Big Data proponents recognize that this technology has not yet achieved its game-changing business potential. In his session at 19th Cloud Expo, John Mertic, director of program management for ODPi at The Linux Foundation, will explain why this is, how we can work together as an open data community to increase adoption, and the i...
Oct. 23, 2016 09:45 AM EDT Reads: 1,869
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 23, 2016 09:45 AM EDT Reads: 773
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 23, 2016 09:45 AM EDT Reads: 2,471
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service.
Oct. 23, 2016 09:45 AM EDT Reads: 1,000
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Oct. 23, 2016 09:30 AM EDT Reads: 3,809
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
Oct. 23, 2016 09:30 AM EDT Reads: 2,118
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Oct. 23, 2016 09:15 AM EDT Reads: 2,061
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Oct. 23, 2016 09:00 AM EDT Reads: 4,453
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Oct. 23, 2016 08:30 AM EDT Reads: 1,335
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Oct. 23, 2016 08:15 AM EDT Reads: 4,411
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
Oct. 23, 2016 08:00 AM EDT Reads: 8,322
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to impr...
Oct. 23, 2016 08:00 AM EDT Reads: 5,675
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Oct. 23, 2016 07:00 AM EDT Reads: 4,097
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
Oct. 23, 2016 06:30 AM EDT Reads: 4,741