Noble Iron Inc. Announces Record Revenue and Releases Operating Results for Q2 and the Six Months Ended June 30, 2012
29 Agosto 2012 - 6:52PM
Marketwired Canada
Noble Iron Inc. (TSX VENTURE:NIR), formerly Texada Software Inc., today
announced its unaudited interim operating results for Q2 and the six months
ended June 30, 2012. Total revenue for Q2 was a record $4.05 Ml. compared with
$1.20 Ml. for the prior year. Adjusted EBITDA (defined as net (loss) for the
period adjusted for depreciation, amortization, interest, foreign exchange and
stock based compensation) was $0.44 Ml. compared to a loss of $0.02 Ml. in 2011.
For the six months ended June 30, 2012, revenue totaled $8.05 Ml. with Adjusted
EBITDA of $0.96 Ml. as compared to $2.30 Ml. in revenue with an Adjusted EBITDA
loss of $0.08 Ml. for the same six month period of 2011.
The Company had a net loss in Q2 of $0.53 Ml., and $0.93 Ml. for the six months
ended June 30, 2012, compared to net losses of $0.11 Ml. and $0.27 Ml. for the
three and six months ended June 30, 2011. Q2 operating expenses increased to
$3.46 Ml. from $1.11 Ml. in 2011 and to $6.64 Ml. for the six months ended June
30, 2012 from $2.12 Ml. in the prior year. Depreciation and amortization, driven
primarily by the capital assets used in rental operations, increased to $0.87
Ml. and $1.51 Ml. for the three and six month periods ending June 30, 2012 as
compared to nil for the three and six month periods ended June 30, 2011.
"The Company continued to thrive in the second quarter, with our rental revenue
far surpassing the 8.2% annualized growth being reported in the rental industry
for the first half of 2012," stated Willie Swisher, Noble Iron's CEO. He
continued, "Noble Iron continues to take a strategic approach to growth and
structure, as evidenced by our recent acquisition in Houston, Texas and
establishment of key long-term relationships with manufacturers and lenders as
well as our name change to Noble Iron and completion of the share consolidation
initiative. The team continues to execute, growing customer, employee and
shareholder value."
The following is a summary table of the financial results of the Company for the
period ended June 30, 2012.
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Three Months Ended Six Months Ended
Thousands of Canadian Dollars June 30, June 30,
(except per share amounts) 2012 2011 2012 2011
Revenue:
Rental $ 2,925 $ - $ 5,485 $ -
Software 1,122 1,198 2,564 2,300
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Total Revenue 4,047 1,198 8,049 2,300
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Operating Income (Adjusted
EBITDA) 444 (19) 963 (76)
Net Loss for the Period (526) (107) (932) (274)
Net Loss per Share (Basic)(i) $ (0.04) $ (0.04) $ (0.07) $ (0.11)
Net Loss per Share (Diluted)(i) $ (0.04) $ (0.04) $ (0.07) $ (0.11)
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(i)All per share information reflect the July 23, 2012 five-for-one share
consolidation as if it had occurred on December 31, 2010.
More information can be found at www.sedar.com.
About Noble Iron Inc. (TSX VENTURE:NIR)
Noble Iron Inc. operates in three complementary sectors: equipment rental,
equipment dealership and enterprise software for the construction and industrial
equipment industry.
The Company operates its equipment rental business and dealership under the name
"Noble Iron." Noble Iron rental depots currently serve customers in California
and Texas. Noble Iron's dealership offers select manufacturers' equipment and
accessories for sale, and is the exclusive distributor of LiuGong Construction
Machinery equipment in Southeast Texas.
The Company's software division, Texada Software, provides software applications
to manage the complete equipment ownership lifecycle, from acquisition, rental,
sales and other activities, through to disposal. Texada offers in-the-cloud or
client-based software, and is scalable to meet the needs of any customer.
The Company can be reached at 1-800-361-1233 or 1-519-836-7073, or at
www.nobleiron.com.
This news release may contain forward-looking statements which reflect the
Company's current expectations regarding future events. The forward-looking
statements are often, but not always, identified by the use of words such as
"seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that
an event or result "may", "will", "should", "could" or "might" occur or be
achieved and other similar expressions. These forward-looking statements involve
risk and uncertainties, including the difficulty in predicting acceptance of and
demands for new products, the impact of the products and pricing strategies of
competitors, delays in developing and launching new products, fluctuations in
operating results and other risks, any of which could cause results,
performance, or achievements to differ materially from the results discussed or
implied in the forward-looking statements. Many risks are inherent in the
industries in which the Company participates; others are more specific to the
Company. The Company's ongoing quarterly filings should be consulted for
additional information on risks and uncertainties relating to these
forward-looking statements. Investors should not place undue reliance on any
forward-looking statements. Management assumes no obligation to update or alter
any forward-looking statements whether as a result of new information, further
events or otherwise.
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