DEQ announces 3Q financial results

The Consolidated Financial Statements are available on SEDAR (www.sedar.com) and DEQ's website. Those interested in participating in the call should dial toll free 1 (877) 223-4471 or +1 (647) 788-4922. A presentation will be available on DEQ's website in the Investors/Financial Reports/Presentation section to support the call content.

2014 third quarter financial results:

Revenue: 

Twelve-Month Period:

17% increase in total recurring revenue of US$ 7,270,000 as compared to US$ 6,227,000 for the same period ending on August 31, 2013.

Nine-Month Period:

18% increase in product rental revenue of US$ 4,691,000 in 2014 as compared to last year.

13% increase in total recurring revenue of US$ 5,468,000 in 2014 as compared to last year.

11% increase in total revenue of US$ 5,613,000 in 2014 as compared to last year.

Third Quarter:

7% increase in product rental revenue of US$ 1,542,000 in Q3-2014 as compared to last year.

2% increase in total recurring revenue of US$ 1,778,000 in Q3-2014 as compared to last year.

3% increase in total revenue of US$ 1,810,000 in Q3-2014 as compared to last year.

OPERATING EXPENSES BEFORE NON-CASH ITEMS

3% decrease in operating expenses to US$ 5,406,000 for the twelve-month period ending August 31, 2014 as compared to the same period last year.

1% increase in operating expenses of US$ 4,086,000 for the nine-month period ending August 31, 2014 as compared to the same period last year.

Stable operating expenses of US$ 1,303,000 in Q3-2014 as compared to US$ 1,308,000 in Q3-2013.

EBITDA of $1,187,000 for the twelve-month period ending August 31, 2014 as compared to $72,000 for the same period ending on August 31, 2013, an increase of $1,115,000.

EBITDA of $860,000 for the nine-month period ending on August 31, 2014 as compared to $278,000 for the same period in 2013, an increase of 

$582,000.

EBITDA of $305,000 in Q3-2014 as compared to $156,000 in Q3-2013, an increase of US$ 149,000.

CASH POSITION AND CASH FLOW

During the third quarter of 2014, the Company increased its cash position by US$ 351,000 from US$ 1,332,000 as of May 31, 2014 to US$ 1,683,000 as of August 31, 2014.

Positive cash flow from operating activities before working capital items of US$ 316,000 in Q3-2014 as compared to US$ 158,000 in Q3-2013, due to the increase in EBITDA for the quarter.