N@N

Xenos Earns $0.12 in F09, Earns $0.07 in Q4

^{Published on 2009-12-18 14:05:05 - Market Wire}
 

 ------------------------------------------------------------------------- Three Months Twelve months ------------------------------------------------------------------------- Period Ended September 30, 2009 2008 2009 2008 (in CDN$000s except per share amounts) Sales 4,521 3,803 17,247 15,908 Gross profit 3,872 3,041 14,399 12,489 EBITDA 751 649 2,449 2,118 Net income 683 479 1,197 1,496 Net income per share 0.07 0.05 0.12 0.15 Cash & cash equivalents 9,311 8,115 Cash per Share $0.93 $0.81 Common Shares Outstanding 10,005 10,005 ------------------------------------------------------------------------- 

 Xenos Group Inc. Consolidated Statements of Operations (Unaudited) Three Months Ended Twelve Months Ended September 30 September 30 2009 2008 2009 2008 --------------------------- --------------------------- Sales $ 4,520,634 $ 3,802,755 $ 17,246,526 $ 15,908,301 Cost of sales 648,512 761,365 2,847,985 3,418,876 ------------- ------------- ------------- ------------- Gross profit 3,872,122 3,041,390 14,398,541 12,489,425 ------------- ------------- ------------- ------------- Expenses Sales and marketing 1,405,679 1,179,768 5,828,834 4,895,248 Research and development 1,045,225 722,415 3,835,560 3,202,134 Administration and general 644,924 463,143 2,180,526 2,177,384 Amortization 199,190 224,369 823,784 945,188 Stock based compensation 25,306 27,195 104,346 96,828 Interest and bank charges 17,660 48,745 44,674 81,124 ------------- ------------- ------------- ------------- 3,337,984 2,665,635 12,817,724 11,397,906 ------------- ------------- ------------- ------------- Income before undernoted items 534,138 375,755 1,580,817 1,091,519 Interest and other 6,066 40,589 90,489 218,332 Foreign exchange gain (loss) 163,924 52,202 (419,312) 240,657 ------------- ------------- ------------- ------------- 169,990 92,791 (328,823) 458,989 ------------- ------------- ------------- ------------- Income before income taxes 704,128 468,546 1,251,994 1,550,508 Provision (recovery) for income taxes 21,187 (10,759) 54,499 54,137 ------------- ------------- ------------- ------------- Net income $ 682,941 $ 479,305 $ 1,197,495 $ 1,496,371 ------------- ------------- ------------- ------------- Net income per common share - Basic $ 0.07 $ 0.05 $ 0.12 $ 0.15 - Diluted $ 0.07 $ 0.05 $ 0.12 $ 0.15 Weighted average number of shares - Basic 10,005,444 9,995,562 - Diluted 10,101,916 10,146,085 ------------------------------------------------------------------------- Deficit, beginning of year $(35,710,117) $(37,206,488) Net income 1,197,495 1,496,371 ------------- ------------- Deficit, end of year (34,512,622) (35,710,117) ------------- ------------- Xenos Group Inc. Consolidated Balance Sheets (Unaudited) As at September 30 September 30 2009 2008 --------------------------- ASSETS CURRENT Cash and cash equivalents $ 9,311,112 $ 8,115,259 Trade receivables 2,876,941 2,471,700 Other receivables 23,260 23,767 Non-hedging financial derivatives 480,395 82,524 Prepaids 644,872 597,052 Income taxes recoverable 25,837 26,766 ------------- ------------- 13,362,417 11,317,068 LONG TERM Future income taxes 1,191,797 1,193,086 Capital assets 877,214 998,436 Intangibles and other assets 2,082,578 1,999,370 ------------- ------------- 4,151,589 4,190,892 ------------- ------------- TOTAL ASSETS $ 17,514,006 $ 15,507,960 ------------- ------------- LIABILITIES CURRENT Payables and accruals $ 2,418,300 $ 2,259,583 Income taxes payable 122,056 97,921 Deferred revenue 3,679,136 3,099,644 Current portion - capital lease 2,543 61,170 ------------- ------------- 6,222,035 5,518,318 LONG TERM Capital lease obligations - 2,543 Deferred revenue 36,942 14,812 Deferred lease inducements 106,635 125,734 ------------- ------------- 143,577 143,089 TOTAL LIABILITIES 6,365,612 5,661,407 SHAREHOLDERS' EQUITY Capital stock 45,125,209 45,125,209 Contributed surplus 535,807 431,461 Deficit (34,512,622) (35,710,117) ------------- ------------- TOTAL SHAREHOLDERS' EQUITY 11,148,394 9,846,553 ------------- ------------- TOTAL LIABILITIES & EQUITY $ 17,514,006 $ 15,507,960 ------------- ------------- Xenos Group Inc. Consolidated Statements of Cash Flows (Unaudited) Three Months Ended Twelve Months Ended September 30 September 30 2009 2008 2009 2008 --------------------------- --------------------------- Cash derived from (applied to) Operating activities Net income $ 682,941 $ 479,305 $ 1,197,495 $ 1,496,371 Amortization 199,190 224,369 823,784 945,188 Unrealized foreign exchange loss (gain) 191,776 48,177 138,315 (13,245) Unrealized gain on non-hedging financial derivatives (536,167) (82,524) (397,871) (82,524) Loss on disposal of capital assets - 9,656 406 24,527 Future income taxes 15,242 (30,758) 1,289 (35,229) Stock based compensation 25,306 27,195 104,346 96,828 Change in non-cash working capital (615,116) (686,383) 313,750 (729,030) ------------- ------------- ------------- ------------- (36,828) (10,963) 2,181,514 1,702,886 ------------- ------------- ------------- ------------- Financing activities Capital lease payments (15,848) (20,658) (61,170) (87,277) Proceeds on issue of shares - - - 93,480 ------------- ------------- ------------- ------------- (15,848) (20,658) (61,170) 6,203 ------------- ------------- ------------- ------------- Investing activities Purchase of capital assets (19,445) (30,418) (204,080) (240,872) Proceeds on disposal of capital assets - 6 - 505 Development costs incurred (121,028) (267,812) (582,096) (723,516) ------------- ------------- ------------- ------------- (140,473) (298,224) (786,176) (963,883) ------------- ------------- ------------- ------------- Effect of foreign exchange rate fluctuations on cash and cash equivalents (191,776) (48,177) (138,315) 13,245 ------------- ------------- ------------- ------------- Net (decrease) increase in cash and cash equivalents (384,925) (378,022) 1,195,853 758,451 Cash and cash equivalents Beginning of period 9,696,037 8,493,281 8,115,259 7,356,808 ------------- ------------- ------------- ------------- End of period $ 9,311,112 $ 8,115,259 $ 9,311,112 $ 8,115,259 ------------- ------------- ------------- -------------