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Destiny Media Technologies Announces Third Quarter Fiscal Year 2017 Results
Jul. 19, 2017 09:17AM PST
Defense And Security InvestingDestiny Media Technologies (TSXV:DSY) has announced its financial results for the fiscal 2017 third quarter endedMay 31, 2017. As quoted in the press release: Highlights Highlights during and subsequent to the end of the third quarter include: Sixth consecutive Q over Q revenue growth Strongest cash position since August 31, 2014 Net income grew to $166,223 EBITDA …
Destiny Media Technologies (TSXV:DSY) has announced its financial results for the fiscal 2017 third quarter endedMay 31, 2017.
As quoted in the press release:
Highlights
Highlights during and subsequent to the end of the third quarter include:
- Sixth consecutive Q over Q revenue growth
- Strongest cash position since August 31, 2014
- Net income grew to $166,223
- EBITDA grew to over $200,000
- Quarterly expenditures drop by 17%
Third Quarter Fiscal 2017 Results
Revenue for the quarter ended May 31, 2017 grew by 3% to $897,475. The increase is the result of revenue growth in all geographic areas.
Expenditures dropped by 17% to $734,689 and the net income grew to $166,223.
“We are excited to see our profit grow in advance of new product developments” said Fred Vandenberg, Chief Executive Officer and Chief Financial Officer for Destiny Media Technologies. “We expect to increase profitability through continued revenue increases and an elimination of unproductive activities and costs.”
