INNOVA ANNOUNCES Q2 FINANCIAL RESULTS

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INNOVA ANNOUNCES Q2 FINANCIAL RESULTS

Revenue $5.2 million; Adjusted EBITDA1 $1.7 million; Adjusted EPS2 $0.05

LOS ANGELES, CALIFORNIA, August 11, 2017 – INNOVA Gaming Group Inc. (“INNOVA” or the “Company”) TSX: IGG), announced today its financial results for the three and six months ended June 30, 2017.

All figures in this press release are in U.S. dollars, unless otherwise noted.

Q2 Highlights – Operations • 2,015 LT-3 ticket dispensers (“LT-3s”) were deployed as of June 30, 2017 and 2,015 LT-3s were deployed as of August 10, 2017.

• Diamond Game deployed 60 modified LT-3 break open ticket dispensers (“LT-3”) under an Agreement with the Red Arrow Bingo Hall in Clovis, New Mexico.

• Diamond Game extended its Distribution/Dispenser Agreements with Atlantic Bingo Supply, Inc., covering 403 LT-3 break open ticket dispensers installed in three bingo halls in the State of Maryland. Q2 Highlights – Financial

• Revenue of $5.2 million in Q2-2017, compared to $5.9 million in Q2-2016.

• Average LT-3 WPU3 (Win Per Unit per day) and ARPU4 (Average Revenue Per Unit per day) of $164 and $28, respectively in Q2-2017.

• Adjusted EBITDA1 of $1.7 million in Q2-2017, compared to $1.5 million in Q2-2016.

• Adjusted EPS2 of $0.05 in Q2-2017, compared to $0.04 in Q2-2016.

• Recognized $431,255 of EBITDA support compensation as part of other non-operating income.

1 Adjusted EBITDA is a non-IFRS measure. See “Non-IFRS Measures and Financial Indicators”

2 Adjusted EPS is a non-IFRS measure. See “Non-IFRS Measures and Financial Indicators”

3 WPU is a non-IFRS measure. See “Non-IFRS Measures and Financial Indicators”

4 ARPU is a non-IFRS measure. See “Non-IFRS Measures and Financial Indicators”.

“INNOVA generated strong Adjusted EBITDA and Adjusted EPS growth in Q2-2017, despite Missouri removals, as we continued to prudently manage our costs during the quarter,” said Richard Weil, CEO of INNOVA.

2 Pollard Banknote Take-Over Bid On August 3, 2017, Pollard Banknote and INNOVA announced that 10188557 Canada Inc. (the “Offeror”), a wholly-owned subsidiary of Pollard Banknote, had taken up approximately 89.32% of the outstanding common shares of INNOVA pursuant to its offer to acquire all of the outstanding common shares of INNOVA (the “Offer”). As required by applicable Canadian securities laws, the Offer has been extended until 5:00 p.m. (Toronto time) on August 15, 2017 to provide holders of common shares who have not yet tendered their common shares to the Offer an opportunity to do so. Pollard Banknote has advised that it does not intend to further extend the Offer beyond 5:00 p.m. (Toronto time) on August 15, 2017. As described in the Offer and associated take-over bid circular dated April 19, 2017 (the “Original Offer and Circular”), the Offeror intends to carry out a compulsory acquisition or subsequent acquisition transaction to acquire any common shares that are not validly deposited under the Offer. Full details of the Offer are contained in the Original Offer and Circular, as amended by the notice of variation dated July 20, 2017 and the notice of extension dated August 3, 2017. Those documents are accessible under INNOVA’s SEDAR profile at www.sedar.com and INNOVA shareholders are urged to read such documents and to tender their common shares to the Offer. 

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