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Epic Data Announces Fiscal 2007 First Quarter Results
January 19, 2007
VANCOUVER, BRITISH COLUMBIA — Epic Data International Inc. (TSX symbol: EKD), today reported financial results for its first quarter ended December 31, 2006.
The company reported fiscal 2007 first quarter revenue of CDN $2.90 million compared to revenue in the previous year's first quarter totaling CDN $4.14 million. Gross Margins for the current quarter improved to 50% from 45% in 2006 and operating expense was reduced by CDN $0.52 million or 24% versus the prior year's first quarter. Epic Data's net loss for the quarter was CDN $0.19 million, compared to a net loss of CDN $0.39 million in the first quarter of fiscal 2006.
The company's contracted sales backlog at quarter end improved to CDN $6.07 million from an opening position of CDN $5.49, on approximately CDN $3.5 million in new bookings, the majority of which were won in the later stages of the first quarter; and the closing unencumbered cash position at December 31, 2006 was CDN $0.12 million.
James Dodds, Epic Data's President and Chief Executive Officer commented: "These results, although considerably short of where we need to be, are none-the-less showing positive progress. Our operating expense levels have been reduced significantly and we are entering our second quarter with a solid contracted sales backlog. It's now in the hands of our new management team to successfully execute on the fulfillment of this backlog, while we continue to build on the sales momentum initiated in the first quarter."
Further explanation and background information with respect these financial results can be found at www.sedar.com or on the company's website at www.epicdata.com.
About Epic Data International Inc.
For over 30 years Epic Data has been a leader in automatic identification and data collection solutions for the world¡¦s most progressive organizations.
In aerospace, automotive, high technology and industrial equipment & machinery manufacturers, our systems are used to increase plant productivity and production velocity while identifying the continuous improvement initiatives vital to winning in today's competitive manufacturing environments.
People and technology make Epic Data a global leader in automated data collection solutions for the extended enterprise.
Information about Epic Data is available at www.epicdata.com
Note: Forward-looking statements in this news release are based on current expectations of management. Epic Data cautions investors that, due to risks and uncertainties, actual events may differ materially from current expectations.
For Information contact:
Imre Togyi
VP, Marketing
Epic Data International Inc.
imre.togyi@epicdata.com
604.273.9146 |
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Epic Data offers the below resources to both its customers and prospective customers:
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"Epic Data addresses three major objectives for our operation including improving employee productivity, enhancing our inventory accuracy and improving the quality and level of service offered to our customers."
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USA/Canada: 
