|By Marketwired .||
|January 29, 2014 05:56 PM EST||
MONTREAL, QUEBEC and TORONTO, ONTARIO and PARIS, FRANCE -- (Marketwired) -- 01/29/14 -- Engagement Labs Inc. ("Engagement Labs")(TSX VENTURE: EL), formerly Parta Dialogue Inc. (TSX VENTURE: PAD) until December 30, 2013, a Social Intelligence & Analytics Technology Provider, released results for its most recent quarter ended November 30, 2013. Revenues have increased by 22% compared to the previous quarter ended August 31, 2013 and decreased by 42% from the comparative quarter ended November 30, 2012. Condensed Interim Consolidated Financial Statements and Management Report are available on SEDAR's website at www.sedar.com.
In addition to the $114K increase in revenues for the most recent quarter, Engagement Labs has also announced that, in comparison to the previous quarter ended August 31, 2013, its cost of sales has decreased by 6% and operating expenses have decreased by 3%. "We have invested a significant amount of money into our technologies and are convinced that we have created a leading edge for ourselves and our customers. We have reduced our development costs and shifted our investment into sales and market development with a strategy to sell to leading digital agencies and to direct clients using a wholesale model. Our investment in product development costs over the last two years and the shift to sales and marketing is representative of our transition from a service company to a technology company supported by services" said Paul Allard - CEO. Cost of sales for the quarter includes a total of $159K in research and development expenses and $122K in amortization of intangible assets.
As previously announced, Engagement Labs resolved to change the Company's fiscal year end to December 31, 2013.
For the six month period ended November 30, 2013, the Company shows a net loss attributable to shareholders of $1,518,730 compared to a net loss of $1,136,008 for the six month period ended November 30, 2012 and a net loss of $141,537 for the six month period ended November 30, 2011. Revenues have decreased by 33% from $1,721,427 for the six month period ended November 30, 2012 to $1,158,506 for the six month period ended November 30, 2013. For the same comparative six month period, revenues decreased by 49% in the E-Learning segment and decreased by 23% in the Social Media segment.
The cost of sales increased by 2%, from $1,351,694 (79% of sales) for the six month period ended November 30, 2012 to $1,374,039 (119% of sales) for the six month period ended November 30, 2013. The operating expenses have decreased by 13%, from $1,505,955 (87% of sales) for the six month period ended November 30, 2012 to $1,303,197 (112% of sales) for the six month period ended November 30, 2013. Compared to the previous quarter, cost of sales decreased by 6% from $706,469 (135% of sales) for the quarter ended August 31, 2013 to $667,570 (105% of sales) for the quarter ended November 30, 2013. For the same comparative quarters, the Sales and Marketing expenses have decreased by 1% and the General and Administrative expenses have decreased by 4%. Adjusted EBITDA increased by $46,031 from -$491,536 (-45% of sales) for the quarter ended November 30, 2012 to -$445,505 (-70% of sales) for the quarter ended November 30, 2013. For the comparative quarters, loss per share remained the same at $0.01 per share. Engagement Labs' total assets as of November 30, 2013 amounted to $3,182,095, a decrease of $160,639 from May 31, 2013.
About Engagement Labs Inc.
Engagement Labs offers a cloud-based software-as-a-service ("SaaS") integrated suite of modules, branded #esuite, supporting the entire social marketing cycle by providing a comprehensive solution for brands to coordinate and analyze social media activities across all online channels (social media sites, forums, news and blogs).
Engagement Labs Inc. is listed on the TSXV under the symbol EL.
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.