B-Scada Reports Consecutive Quarters of Record Revenue
8:02a ET September 16, 2014 (Market Wire) Print
B-Scada, Inc. (OTCQB: MOBS), a software solutions provider specializing in compelling visualization technology and HMI/SCADA products, today reported financial results for its third quarter of FY2014 ended July 31, 2014 (3QFY14) and first nine months of fiscal year 2014 (9moFY14) compared to the third quarter (3QFY13) and first nine months of fiscal year 2013 (9moFY13). It is the second consecutive quarter of increases in revenue and net income as compared against prior quarters.
3QFY14 highlights compared with 3QFY13:
-- Revenues increased 69% to $574,315 -- an increase of $234,171 from
$340,144
-- Customer development services for contracts entered into in FY2013
accounted for most of the $234,171 increase in technology
licensing and support revenues
-- Sales & Marketing costs were $81,879, an increase of $32,255 or
65%
-- Marketing, internet pay-per-click advertising, and payroll and
related costs are the major contributing factors in the increased
costs
-- General & Administrative expenditures were $192,764, an increase
of $67,459 or 54%
-- Increase is primarily due to building infrastructure to handle
anticipated customer demand
-- Net income increased 133% to $181,553, an increase of $103,613 from
$77,940
-- Major contributors were increases in technology licensing and
support revenues, customer development services and customer
training
9moFY14 highlights compared with 9moFY13:
-- Revenues were $1.418 million, an increase of $362,830 or 34% from
$1.055 million
-- Service revenues were generated from implementation of our
software products and custom training provided to customers
-- Sales and Marketing costs increased to $254,054, an increase of
$87,022 or 52% from $167,032
-- Increases were due to expanded staff and payroll-related costs, as
well as additional marketing and advertising campaigns
-- General & Administrative costs were $428,751, an increase of
$147,424 or 52%
-- Increase is primarily related to payroll and related costs,
repairs and maintenance and professional and consulting fees
-- R&D expenditures were $87,450, an increase of $22,723, or 35% over
$64,727
-- Payroll and related costs increased slightly as work on the
release of our new product, Status Enterprise, moved forward
-- Net Income increased 12% to $353,766, an increase of $36,499 from
$317,267
"We believe the increases in revenue are a reflection of the increased confidence the market has in our products and expertise," said Ron DeSerranno, CEO. "The Status Enterprise HMI/SCADA system introduced into the market this spring is being very well received. It will begin to have a positive influence on our revenue this fall. The additional $800,000 in equity financing received by the Company this summer will be used to further promote the Company and our products globally. We anticipate growth to accelerate in 2015."
Comparison of the Three Months Ended July 31, 2014 and 2013 The following tables set forth, for the periods indicated, certain items from the statements of operations along with a comparative analysis of ratios of costs and expenses to revenues.
For the three months ended July 31,
------------------------------------------
2014 2013
-------------------- --------------------
(Unaudited) (Unaudited)
-------------------- --------------------
% of % of
Amounts Revenues Amounts Revenues
---------- --------- ---------- ---------
Revenues
Technology licensing and
support $ 497,632 87% $ 249,515 73%
Commercial software 76,683 13% 90,629 27%
---------- --------- ---------- ---------
Total revenues 574,315 100% 340,144 100%
---------- --------- ---------- ---------
Operating expenses:
Technology licensing and
support 53,742 9% 39,566 12%
Commercial software 52,667 9% 38,699 11%
Sales and marketing 81,879 14% 49,624 15%
Research and development 6,853 1% 4,870 1%
General and administrative 192,764 34% 125,305 37%
Depreciation expense 3,672 1% 1,307 --
---------- --------- ---------- ---------
Total operating expenses 391,577 68% 259,371 76%
---------- --------- ---------- ---------
Other (income) expenses 1,185 --% 2,833 1%
---------- --------- ---------- ---------
Net Income $ 181,553 32% $ 77,940 23%
========== ========= ========== =========
Basic earnings per common share $ 0.01 $ --
========== ==========
Diluted earnings per common
share $ 0.01 $ --
========== ==========
Comparison of the Nine Months Ended July 31, 2014 and 2013 The following tables set forth, for the periods indicated, certain items from the statements of operations along with a comparative analysis of ratios of costs and expenses to revenues.
For the nine months ended July 31,
------------------------------------------
2014 2013
-------------------- --------------------
(Unaudited) (Unaudited)
-------------------- --------------------
% of % of
Amounts Revenues Amounts Revenues
---------- --------- ---------- ---------
Revenues
Technology licensing and
support $1,194,634 84% $ 751,387 71%
Commercial software 223,227 16% 303,644 29%
---------- --------- ---------- ---------
Total revenues 1,417,861 100% 1,055,031 100%
---------- --------- ---------- ---------
Operating expenses:
Technology licensing and
support 134,435 9% 99,495 9%
Commercial software 150,189 11% 111,102 11%
Sales and marketing 254,054 18% 167,032 16%
Research and development 87,450 6% 64,727 6%
General and administrative 428,751 30% 281,327 27%
Depreciation expense 7,752 1% 3,851 --%
---------- --------- ---------- ---------
Total operating expenses 1,062,631 75% 727,534 69%
---------- --------- ---------- ---------
Other (income) expenses 1,464 --% 10,230 1%
---------- --------- ---------- ---------
Net Income $ 353,766 25% $ 317,267 30%
========== ========= ========== =========
Basic earnings per common share $ 0.01 $ 0.01
========== ==========
Diluted earnings per common
share $ 0.01 $ 0.01
========== ==========
