|By Marketwired .||
|May 20, 2014 07:00 PM EDT||
MONTREAL, QUEBEC and TORONTO, ONTARIO and PARIS, FRANCE -- (Marketwired) -- 05/20/14 -- Engagement Labs Inc. (TSX VENTURE: EL) released results for its quarter ended March 31, 2014. As previously announced, Engagement Labs changed the Company's fiscal year end to December 31. Therefore, it should be noted that this first quarter ended March 31, 2014 will be compared to the quarter ended February 28, 2013. For the quarter ended March 31, 2014, revenues have decreased by 37% compared to the quarter ended February 28, 2013 and by 25% compared to the quarter ended February 29, 2012. Revenues for the quarter ended March 31, 2014 decreased by 20% compared to previous three-month quarter ended November 30, 2013. Condensed interim consolidated Financial Statements and Management Report are available on SEDAR's website at www.sedar.com.
"We are currently working on perfecting the latest version of our evalue social media analytics tool to help brands and marketing agencies navigate the social media world and become more agile and proactive. In addition, we will soon launch an important sales and marketing campaign designed to boost awareness about our evalue score and increase our sales", said Paul Allard, CEO.
For the quarter ended March 31, 2014, the Company shows a net loss attributable to shareholders of $720,828 compared to a net loss of $859,171 for the quarter ended February 28, 2013 and a net loss of $191,435 for the quarter ended February 29, 2012. Adjusted EBITDA decreased by $343,549 from -$555,489 (-69% of sales) for the quarter ended February 28, 2013 to -$899,038 (-177% of sales) for the quarter ended March 31, 2014. Basic and diluted loss per share was -$0.10 for the quarter ended March 31, 2014, compared to -$0.14 for the quarter ended February 28, 2013. ENGAGEMENT LABS INC.'s total assets as at March 31, 2014 amounted to $5,571,780, an increase of $2,364,170 from December 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.
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.
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