DataWave Earns US$182,857 During Its Second Quarter; Revenues of US$5.2 million.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Nov. 13, 2001 DataWave (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DWVSF) (CDNX CDNX See Canadian Venture Exchange (CDNX). :DTV (Digital TeleVision) Transmitting TV using digital signals. The major DTV standards are ATSC (North America), DVB (Europe) and ISDB (Japan). All three use MPEG-2 video compression and Dolby Digital audio compression. DVB and ISDB also include MPEG audio compression. .) announces net income of US$182,857 for the quarter ended September 30, 2001 compared to a (US$243,614) loss for the same period last year. Revenues doubled to US$5,193,980 from US$2,509,798. The Company is now profitable year to date. Net income for the six months ended September 30, 2001 is US$102,153 compared to a (US$200,215) loss for the same six months last year. Year to date fiscal 2002 revenues are US$7,909,324 compared to US$5,053,823 for the same period last year. DataWave considerably expanded its involvement in the Canadian prepaid pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. long distance telephone market during the quarter by purchasing
AT&T's Canadian prepaid card business in July 2001. This
business generated revenues of US$2.1 million from the date of
acquisition, July 13, 2001, until the end of the fiscal quarter. Revenue
generated from the sale of prepaid long distance phone cards in the
United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. increased 15% for the six months ended September 30, 2001
compared to same period last year.
Earnings before interest, taxes, depreciation and amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
DataWave continued to enhance the capability of its technology. Developments include enhancements to its web site www.mycardstatus.com which facilitates prepaid payment card transactions, and enhancements to host to host interfaces that allow DataWave to sell by real time activated Net2phone and Canquest prepaid phone card products. "These capabilities have enabled new opportunities for DataWave's prepaid card programs which we hope to close during the second half of our fiscal year," reports Josh Emanuel, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Mr. Emanuel further reports, "Successful marketing activities have resulted in access to independent retail outlet retail outlet n → punto de venta retail outlet n → point m de vente retail outlet retail n → markets in Ontario such as the 2000 strong Korean Businessman's Association. Additionally, the Company reached agreement to introduce an international long distance card into a major petrol retailer, which has 1,600 retail outlets." The Company has expanded the prepaid MasterCard pilot program from a five-store test in the Seattle area to a 52-store pilot in three cities The Three Cities is a collective description of the three fortified cities of Cospicua, Vittoriosa, and Senglea on the Island of Malta, which are enclosed by the massive line of fortification created by the Knights of St John, the Cottonera Lines. to test consumer response. The pilot is expected to run for six months and enable DataWave to verify the business model before we make a decision regarding a possible rollout late fiscal year 2002.
in US$000's 3 months ended 6 months ended
Sep 30, 2001 Sep 30, 2000 Sep 30, 2001 Sep 30, 2000
---------------------------------------------------------------------
Revenues 5,194 2,510 7,909 5,054
EBITDA 313 (101) 346 94
Net Income (loss) 183 (244) 102 (200)
Net Income (loss)
per share $ 0.004 $ (0.006) $ 0.002 $ (0.005)
Net Income (loss)
per share
fully diluted $ 0.004 $ (0.006) $ 0.002 $ (0.005)
About DataWave (http://www.datawave.ca) DataWave Systems designs, develops, produces, owns and manages a proprietary, intelligent, automated direct-merchandising network, comprised of free-standing intelligent machines (DTMs) and over the counter "swipe" units (OTCs) connected to the gateway and database software through a wireless and/or landline wide area network. This unique leading-edge technology provides for point-of-sale activation, cash/credit card acceptance, detailed reporting and 24/7 remote self-diagnostic troubleshooting Troubleshooting is a form of problem solving. It is the systematic search for the source of a problem so that it can be solved. Troubleshooting is often a process of elimination - eliminating potential causes of a problem. , making it virtually maintenance-free. The Company has proven enabling technologies that have allowed it to enter new markets and generate additional revenue streams with innovative prepaid and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. products. In addition to its successful prepaid calling card business, the company is testing the distribution of the Standard Federal Bank Prepaid MasterCard together with Coinstar. DataWave is now poised to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the flexibility of its System by augmenting its product range to meet the diversified and changing needs of the prepaid market and in further developing strategic partnerships. DataWave Systems Inc. Marc L. Belsky, CFO See Chief Financial Officer. Legal Notice Regarding Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. "This press release contains "forward-looking statements". Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include statements regarding: revenue and income expectations related to the acquired Prepaid Card Company, margin expectations, expansion into new markets, and new prepaid card products opportunities. It is important to note that actual outcomes and the Company's actual results could differ materially from those contained in any forward-looking statements contained in this press release. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties such as customer defections at the acquired company, insufficient demand for and market acceptance of DataWave's present or future products, emergence of companies with competing or superior products and/or services, unforeseen changes in the software and hardware technology used in connection with DataWave's technology and products, the unforeseen delays or costs of entering new markets, or technical difficulties in developing new products. Although DataWave believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable; there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Readers should also refer to the risk disclosures outlined in the Company's annual report and regulatory filings for the 2001 fiscal year and the Company's quarterly reports filed from time-to-time with the CDNX, BC Securities Commission and SEC." "DataWave" is a registered trademark of the Company. All other trademarks and trade names referred to are the property of their respective owners. The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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