|By Marketwired .||
|April 30, 2014 07:00 PM EDT||
MONTREAL, QUEBEC and TORONTO, ONTARIO -- (Marketwired) -- 04/30/14 -- Engagement Labs Inc. (TSX VENTURE: EL) released results for its last fiscal year ended December 31, 2013. As previously announced, Engagement Labs changed the Company's fiscal year end to December 31, 2013. Therefore, it should be noted that that the last fiscal year is seven months compared to twelve months ended May 31, 2013. To be able to compare the two periods, the Company used the financial data of the six months period ended November 30, 2012; from June 1, 2012 to November 30, 2012 since they are closer to current periods of the year. Revenues have decreased by 18% compared to the six-month period ended November 30, 2012. Revenues for the last four-month quarter ended December 31, 2013 (Q2) increased by 71% compared to previous three-month quarter ended August 31, 2013 (Q1). Audited consolidated Financial Statements and Management Report are available on SEDAR's website at www.sedar.com.
"We continue to invest in our technology platform with an objective of creating leading tools for brands and agencies to optimally navigate the social networking universe. In addition, with many of our tools now productized, we are now investing in sales & marketing initiatives designed to rapidly ramp revenue, said Paul Allard, CEO.
For the seven-month period ended December 31, 2013, the Company shows a net loss attributable to shareholders of $1,869,227 compared to a net loss of $1,136,008 for the six-month period ended November 30, 2012 and a net loss of $2,820,745 for the fiscal year ended May 31, 2013. Adjusted EBITDA decreased by $533,511 from -$749,186 (-44% of sales) for the six-month period ended November 30, 2012 to -$1,282,697 (-91% of sales) for the seven-month year ended December 31, 2013. Basic and diluted loss per share was -$0.03 for the seven-month year ended December 31, 2013, compared to -$0.02 for the six-month period ended November 30, 2012 and -$0.05 for the year ended May 31, 2013. ENGAGEMENT LABS INC's total assets as at December 31, 2013 amounted to $3,207,610, a decrease of $135,124 from May 31, 2013.
About Engagement Labs
Engagement Labs offers real-time social media data, analytics and insights for organization that are actively engaging on social networks. They extract business intelligence from user generated data (BIG DATA) and transform it into actionable data for corporate clients, brands and social media teams. Engagement Labs created #esuite, an Intelligent Data on Demand platform for agencies, marketing teams and dashboard providers. Offered under SaaS or through an API, #esuite supports the entire social marketing cycle by providing over 250 comprehensive intelligent analytical metrics to measure performance and ROI for brands to evaluate and coordinate 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. www.engagementlabs.com
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.