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Acquity Group Limited Reports Results for First Quarter 2012

CHICAGO May 23, 2012 March 31, 2012

March 31, 2012 March 31, 2011

  • $12.8 million $34.5 million $21.7 million
  • $4.8 million $7.1 million $2.3 million
  • $2.4 million $3.8 million $0.20 $1.4 million $0.08
  • $2.5 million $4.6 million $0.24 $2.1 million $0.12
  • $5.1 million $8.4 million $3.3 million
  • March 31, 2012 $3.1 million

Chicago Christopher Dalton North America Canada

Paul Weinewuth

Recent Business Highlights

May 2, 2012 $24.4 million

First Quarter 2012 Financial Results

$12.8 million $34.5 million $21.7 million

$5.8 million $18.5 million $12.6 million

$0.3 million $2.1 million $1.8 million

$1.8 million $6.7 million $4.9 million

$0.4 million

$2.9 million $0.9 million

Second Quarter 2012 Outlook

The Company currently expects the following financial results for the second quarter of 2012:

  • June 30, 2012 $34 million to $36 million
  • IFRS operating profit margin, excluding costs associated with our recent initial public offering and amortization of purchased intangible assets, is expected to range from 16% to 18%.

Webcast and Conference Call

8:30 a.m. EDT

Date:

Wednesday, May 23, 2012

Time:

8:30 a.m. EDT (please dial in by 8:15 a.m.)

Dial-In #:

(866)519-4004 U.S. & Canada

+1(718)354-1231 International

Confirmation code:

78940911

www.acquitygroup.com

Non-IFRS Financial Measures

Acquity provides non-IFRS financial measures to complement reported IFRS results. Management believes these measures help illustrate underlying trends in the Company’s business and uses the measures to establish budgets and operational goals, communicated internally and externally, for managing the Company’s business and evaluating its performance. The Company anticipates that it will continue to report both IFRS and certain non-IFRS financial measures in its financial results, including non-IFRS results that exclude interest, income tax provisions, depreciation and amortization, costs associated with its initial public offering, equity in losses of its joint ventures, acquisition costs and other related charges, among other costs. Consequently, Acquity’s non-IFRS financial measures should not be evaluated in isolation or as a substitute for IFRS measures, but, rather, should be considered together with its consolidated financial statements, which are prepared according to IFRS.

Special Note Regarding Forward-Looking Statements

This announcement contains forward-looking statements. These statements are made under the "safe harbor"provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended., and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "aim," "anticipate," "believe," "confident," "continue," "estimate," "expect," "future," "intend," "is currently reviewing," "it is possible," "likely," "may," "plan," "potential," "will" or other similar expressions or the negative of these words or expressions. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. In particular, the section entitled "Second Quarter 2012 Outlook" in this announcement consists of forward-looking statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements and are subject to change, and such change may be material and may have a material adverse effect on the Company’s financial condition and results of operations for one or more periods. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained, either expressly or impliedly, in any of the forward-looking statements in this announcement. Potential risks and uncertainties include, but are not limited to, the risks outlined in the Company’s Registration Statement on Form F-1 and other documents filed with the U.S. Securities and Exchange Commission. Unless otherwise specified, all information provided in this announcement and in the attachments is as of the date of this announcement, and the Company does not undertake any obligation to update any such information, except as required under applicable law.

About Acquity Group Limited

the United States Asia

 

Acquity Group Limited

Consolidated Statements of Comprehensive Income – Unaudited

(Amounts in thousands, except per share data)

Three Month Periods Ended

March 31, 2012

March 31, 2011

Revenues

$   34,493

100.0%

$ 21,726

100.0%

Cost of revenues

18,458

53.5%

12,640

58.2%

Gross Profit

16,035

46.5%

9,086

41.8%

Selling and marketing expenses

2,110

6.1%

1,840

8.5%

Administrative expenses 

6,707

19.4%

4,887

22.5%

Costs associated with initial public offering

116

0.3%

24

0.1%

     Operating profit

7,102

20.6%

2,335

10.7%

Finance costs

(15)

(0.0%)

(17)

(0.1%)

Equity in losses of joint ventures

(442)

(1.3%)

0.0%

Profit before tax

6,645

19.3%

2,318

10.7%

Income tax expense

2,864

8.3%

900

4.1%

Profit

3,781

11.0%

1,418

6.5%

Other comprehensive income:

Currency translation differences

(2)

(0.0%)

7

0.0%

Comprehensive profit

$     3,779

11.0%

$   1,425

6.6%

Profit/(loss) attributable to:

Equity holders of the Company

$     3,845

11.1%

$   1,420

6.5%

Non-controlling interests

(64)

(0.2%)

(2)

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