TORONTO--(BUSINESS WIRE)--Adya Inc. (“Adya” or the “Company”), (TSX-V: ADYA) today announced its financial performance for the year ended December 31, 2016.
Revenue for 2016 was down approximately 17% to $14,808,073 compared to revenue of $17,885,503 in fiscal 2015. This decline was contributed by a disruption in a service agreement in 2015 with a wireless service provider for roaming services along with forecasted market trend declines of traditional long distance services. Positively, the Company saw growth in other markets, namely the Business Services segment, which helped offset some of the declines seen in the traditional services.
“As we have seen our traditional long distance services decline in line with market trends,” explained Rajiv Jagota, President and CEO of Adya, “I look forward to the opportunities of organic growth by introducing new and innovative products and services. We are also continuing to pursue acquisition opportunities to help offset our declines and diversify of product and services offerings.”
|Consolidated highlights for the years ended December 31,||2016||2015|
|Gross Margin %||39%||37%|
|Loss per share - basic and diluted||(0.08)||(0.03)|
Below is a reconciliation of “EBITDA” and “Adjusted EBITDA” to net income (loss) for the periods presented:
EBITA and Adjusted EBITA for the years ended December 31,
|Finance costs, net||350,329||384,392|
|Income tax expense (recovery)||33,163||(144,532)|
|Depreciation and amortization||423,765||688,620|
|Acquisition transaction costs||-||35,970|
A complete financial reporting package, including the 2016 Consolidated Financial Statements and Notes to the Financial Statements and MD&A, is available at our corporate website (www.adya.ca), at SEDAR website (www.sedar.com) or via email to email@example.com or via phone at 416-499-5463.
Adya is a publicly traded holding company and strategic shareholder in telecommunications and technology companies. With offices located in Toronto, Canada, we focus on the acquisition of accretive businesses. Our team and resources specialize in operational, network, engineering, and administrational efficiencies allowing for reducing operating costs and increasing revenue.
Adya currently holds several leading companies under its worldwide portfolio. The portfolio of companies span all sub-sectors of telecom services.
DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements herein may be “forward looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Adya or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward looking statements. These forward looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and Adya assumes no obligation, except as required by law, to update any forward looking statements to reflect new events or circumstances.
Neither 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.