Prodigy Ventures Inc. Announces Record Financial Results for Q1 2018

Prodigy Ventures Inc. Announces Record Financial Results for Q1 2018

Canada NewsWire

(TSXV-PGV)

TORONTO, May 25, 2018 /CNW/ – Prodigy Ventures Inc. (TSXV: PGV) (“Prodigy” or the “Company“) today announced the results for the three months ended March 31, 2018.

“Prodigy resumed strong revenue growth and continued to diversify its client base in the first quarter”, said Prodigy’s CEO, Tom Beckerman. “From this time last year, we have added seven net new clients, tripling our client base.  We have also initiated a new strategic partnership to deliver secure identity solutions. Gross profit declined with an increase in technology labour costs, and operating expenses grew with our continued investments in sales and marketing and R&D. These investments are now accelerating revenue growth and are expected to improve margins as new technologies and capabilities are delivered to customers.”

First Quarter 2018 Financial Results

  • Revenue for the three months ended March 31, 2018 totalled $3,568,622 compared to $3,063,308 for the three months ended March 31, 2017, an increase of 16.5%.
  • Gross profit for the three months ended March 31, 2018 of $897,921 as compared to $989,384 for the three months ended March 31, 2017, a decrease of 9.2%.
  • Operating Expenses for the three months ended March 31, 2018 of $863,318 as compared to $752,850 for the three months ended March 31, 2017, an increase of 14.7%, primarily due to increases in research and development and staff costs.
  • Net Income for the three months ended March 31, 2018 totalled $24,372 as compared to $169,169 for the three months ended March 31, 2017, a decrease of 85.6%.
  • The Company had working capital of $2,331,031 as of March 31, 2018 compared to $2,292,644 as of December 31, 2017.


Three months ended



March 31


2018


$


2017


$


Revenue

3,568,622

3,063,308


Gross Profit

897,921

989,384


Expenses

863,318

752,850


Net and comprehensive income for the period

24,372

169,169


Net income per share – basic and diluted

0.00

0.00

 

The complete unaudited interim financial statements and associated Management’s Discussion and Analysis are available under the Company’s profile at www.sedar.com or the Company’s website at www.prodigy.ventures.


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.

About Prodigy Ventures Inc.

Prodigy is an innovation company that has combined an enterprise technology services business – Prodigy Labs – with a Venture Builder business. The two businesses work together to create and deliver new enterprise and consumer platforms and apps using emerging technologies in mobile, video, secure ID, voice, blockchain, artificial intelligence, payments and augmented reality.

Prodigy has been named as one of Canada’s fastest growing technology companies in both the 19th and 20th annual Deloitte Technology Fast 50™ awards for demonstrating bold innovation, dedicated leadership and strong growth. Prodigy also ranked on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America.

Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the Company’s expectations with respect to growth and improved margins. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company’s Management’s Discussion and Analysis for the three months ended March 31, 2018, a copy of which is filed on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.

SOURCE Prodigy Ventures Inc.

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AllianceBernstein Global High Income Fund, Inc. Reports Fourth Quarter Earnings

AllianceBernstein Global High Income Fund, Inc. Reports Fourth Quarter Earnings

PR Newswire

NEW YORK, May 25, 2018 /PRNewswire/ – AllianceBernstein Global High Income Fund, Inc. (NYSE: AWF), a registered closed-end investment company, today announced earnings for the fourth quarter ended March 31, 2018.

Total net assets of the Fund on March 31, 2018 were $1,169,160,724, as compared with $1,201,448,629 on December 31, 2017 and $1,195,919,633 on March 31, 2017. On March 31, 2018, the net asset value per share was $13.56 based on 86,229,677 shares of common stock outstanding.



March 31, 2018


December 31, 2017


March 31, 2017

Total Net Assets


$1,169,160,724

$1,201,448,629

$1,195,919,633

NAV Per Share


$13.56

$13.93

$13.87

Shares Outstanding          


86,229,677

86,229,677

86,229,677

For the period January 1, 2018 through March 31, 2018, total net investment income was $19,765,438 or $0.23 per share.  The total net realized and unrealized loss was $(33,970,979) or $(0.39) per share for the same period.


Fourth Quarter


      Ended



March 31, 2018

Third Quarter

      Ended


December 31, 2017

Fourth Quarter

      Ended


March 31, 2017

Total Net Investment

  Income                                         


$19,765,438

$18,073,151

$17,806,745

Per Share


$0.23

$0.21

$0.21

Total Net Realized/

  Unrealized Gain/(Loss)


$(33,970,979)

$(10,867,037)

$28,193,845

Per Share


$(0.39)

$(0.13)

$0.33

AllianceBernstein Global High Income Fund, Inc. is managed by AllianceBernstein L.P.

Cision View original content:http://www.prnewswire.com/news-releases/alliancebernstein-global-high-income-fund-inc-reports-fourth-quarter-earnings-300655166.html

SOURCE AllianceBernstein Global High Income Fund, Inc.

Canada Post segment reports $70-million profit before tax in first quarter

Canada Post segment reports $70-million profit before tax in first quarter

Canada NewsWire

Parcels volumes continue to grow as Canadians shift to e-commerce deliveries

OTTAWA, May 25, 2018 /CNW/ - Canada Post is reporting a first-quarter profit, driven mostly by robust growth in its Parcels business as it delivers Canadians’ online purchases. The growth continues 2017’s positive momentum, when Canada Post employees delivered record Parcels volumes.

The Canada Post segment’s $70-million profit before tax for the first quarter, ended March 31, 2018, compares to a profit before tax of $50 million in the first quarter of 2017.1

Parcels results

In the first quarter, Canada Post – the country’s No. 1 parcel company – grew Parcels revenue by $110 million1 or 24.6 per cent,1 while volumes increased by 17 million pieces or 33.0 per cent2 compared to the same period in 2017. Domestic Parcels, the largest product category, continued to grow strongly, as revenue increased by $76 million1 or 23.6 per cent1, 2 and volumes grew by six million pieces or 17.3 per cent. 2 The growth in Parcels volumes was driven by strong performance from major commercial customers and by Canada Post’s solid delivery performance as consumers order more products online.

Transaction Mail results

Transaction Mail is mostly letters, bills and statements. In the first quarter of 2018, Transaction Mail revenue decreased by $46 million1 or 4.1 per cent1, 2 while volumes decreased by 50 million pieces or 4.0 per cent2 compared to the same period in 2017. For Domestic Lettermail, the largest product category, revenue decreased by $24 million1 or 1.6 per cent1, 2 and volumes decreased by 34 million pieces or 2.4 per cent.2 The ongoing decline in mail volumes is due to the growing use of digital alternatives by consumers and businesses. It is one of the most significant challenges facing the Corporation.

Direct Marketing results

In the first quarter of 2018, Direct Marketing revenue decreased by $3 million,1 which is an increase of 0.5 per cent1 when adjusted for trading days, while volumes fell by 23 million pieces or 0.5 per cent2 compared to the same period in 2017. Revenue for Neighbourhood MailTM, the largest volume product category, remained constant while volumes decreased slightly, by seven million pieces compared to the same period in 2017.

Group of Companies results

The Canada Post Group of Companies3 reported a profit before tax of $96 million, compared to a profit before tax of $68 million1 in the same period in 2017. The Group of Companies’ positive first-quarter results were primarily driven by positive results in the Canada Post segment, which were largely due to parcel growth. The Purolator segment’s profit before tax was $21 million for the first quarter of 2018, compared to a profit before tax of $14 million in the first quarter of 2017.1

To read the full report in PDF, visit canadapost.ca/aboutus and select “Financial Reports” from the Corporate menu.

Background

The operations of the Canada Post Group of Companies are funded by the revenue generated by the sale of its products and services, not taxpayer dollars.

  1. The amounts for 2017 were restated as a result of new accounting standards.
  2. Adjusted for trading days.
  3. The Canada Post Group of Companies consists of the core Canada Post segment and its three non-wholly owned subsidiaries, Purolator Holdings Ltd., SCI Group Inc. and Innovapost Inc.

 

SOURCE Canada Post

View original content: http://www.newswire.ca/en/releases/archive/May2018/25/c4955.html