(TheNewswire)
Montreal, QUEBEC / TheNewswire / May 1, 2017 – Further to its earlier press release issued on April 28, 2017, DMD Digital Health Connections Group Inc. (“DMD” or the “Company”) (NEX: DMG.H), a leader in digital intelligence for the health industry confirms the filing of its financial statements and MD&A on April 28, 2016, reporting revenues of $41.0 million for the year ended December 31, 2016 compared to revenues of $32.2 million for the year ended December 31, 2015, an improvement of $8.8 million. For the quarter ended December 31, 2016, revenue rose to $13.4 million, which is an increase of $3.4 million over revenue of $10.0 million realized during the fourth quarter ended December 31, 2015.
Gross margin increased by $6.3 million to $25.0 million for the year ended December 31, 2016 compared to $18.7 million realized during the same period in 2015. For the quarter ended December 31, 2016, gross margin increased by $3.4 million to $9.3 million compared to the quarter ended December 31, 2015. The continued expansion of the Company’s products and service offerings, combined with the increased strength and dedicated efforts of its sales team has enabled the Company to successfully improve its performance.
For the year ended December 31, 2016 operating profit was $7.3 million compared to $6.4 million during the same period in 2015. Operating profit was $3.7 million for the quarter ended December 31, 2016, compared to $2.0 million for the quarter ended December 31, 2015. Expenses for the current year reflect the higher level of activities and the strengthening of the management team. It also includes share-based compensation of $0.2 million for the quarter ended December 31, 2016 and $1.3 million for the year ended December 31, 2016, following the issuance of stock options during the first quarter of 2016.
For the year ended December 31, 2016, the Company reported a profit of $7.3 million or $0.04 per share compared to a profit of $10.2 million or $0.05 per share for the year ended December 31, 2015. The lower profit can be explained in part by a non-recurring gain on extinguishment of debt of $3.1 million and a one-time deferred income tax recovery of $3.6 million that the Company recognized during the year ended December 31, 2015. For the quarter ended December 31, 2016, the Company reported a profit of $5.7 million compared to a profit of $4.2 million for the same period in 2015.
The increase in sales combined with the improvement in gross margins and favorable exchange rates all contributed to the excellent performance of the Company during 2016.
Complete financial statements and MD&A for the three-month period and for the year ended December 31, 2016 are available on SEDAR at www.sedar.com
About DMD Digital Health Connections Group Inc. (“DMD”)
DMD enables pharmaceutical, pharmaceutical marketing companies, digital advertising agencies and medical device companies to effectively reach, message, connect and interact with US physicians and healthcare professionals via multiple access channels. Its innovative service offerings provide targeted impressions and interactions through permission-based email, targeted on-line ad-serving, and mobile app advertising channels. Top pharmaceutical companies, agencies and respected healthcare organizations have adopted DMD's solutions to target, engage and interact with leading healthcare practitioners. For more information, visit www.dmdconnects.com.
Forward-looking statements
This news release contains forward-looking information. These statements relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management of DMD. A number of factors could cause actual events, performance or results to differ materially from the events performance and results discussed in the forward-looking statements. These forward-looking statements are made as of the date hereof and DMD does not assume any obligation to update or revise them to reflect new events or circumstances.
Neither NEX, the 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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Contact Information
----------------------------------------------- | | | | |André Charron | | | |CFO | | | |DMD Digital Health Connections Group Inc.| | | |514-769-5858acharron@dmdconnects.com | | | -----------------------------------------------Copyright (c) 2017 TheNewswire - All rights reserved.
