TORONTO, April 29, 2019 (GLOBE NEWSWIRE) -- Route1 Inc. (OTCQB: ROIUF and TSXV: ROI) (the “Company” or “Route1”), North America's most advanced provider of industrial-grade data intelligence, user authentication and ultra-secure mobile workforce solutions on April 25, 2019 announced fourth quarter (Q4) and fiscal year (FY) financial results for the period ended December 31, 2018. In the Fiscal Year 2018 condensed Statement of Operations, the “Net income” figure was incorrectly presented as a gain in the original release. The corrected table is as follows:
Fiscal Year 2018
The Company’s operating results in fiscal year 2018 with comparatives are as follows:
| In 000s of CAD dollars | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | |||||
| Revenue | |||||||||||
| Device | 19,972 | 321 | 363 | 156 | 536 | 447 | |||||
| Services | 6,209 | 5,698 | 7,080 | 6,218 | 5,470 | 4,948 | |||||
| Other | 49 | 51 | 4 | 23 | 71 | 38 | |||||
| Total Revenue | 26,231 | 6,070 | 7,447 | 6,397 | 6,077 | 5,433 | |||||
| Cost of revenue | 18,732 | 1,325 | 1,475 | 1,164 | 1,145 | 1,137 | |||||
| Gross profit | 7,499 | 4,745 | 5,972 | 5,233 | 4,932 | 4,296 | |||||
| Operating expenses | 6,892 | 4,736 | 5,230 | 4,515 | 4,398 | 4,485 | |||||
| Operating profit 6 | 607 | 9 | 742 | 718 | 534 | (189 | ) | ||||
| Patent litigation | 841 | 270 | 56 | 0 | 0 | 0 | |||||
| Total other expenses | 200 | 349 | 356 | (10 | ) | (103 | ) | 154 | |||
| Net income gain (loss) | (434 | ) | (610 | ) | 330 | 728 | 637 | (343 | ) | ||
6 Before stock-based compensation and patent litigation
About Route1 Inc.
Route1, operating under the trade name GroupMobile, is North America's most advanced provider of industrial-grade data intelligence, user authentication, and ultra-secure mobile workforce solutions. The Company helps all manner of organizations, from government and military to the private sector, to make intelligent use of devices and data for immediate process improvements while maintaining the highest level of cyber security. Route1 is listed on the OTCQB in the United States under the symbol ROIUF and in Canada on the TSX Venture Exchange under the symbol ROI. For more information, visit: www.route1.com.
For More Information, Contact:
Tony Busseri
Chief Executive Officer, Route1 Inc.
+1 416 814-2635
tony.busseri@groupmobile.com
This news release, required by applicable Canadian laws, does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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.
© 2019 Route1 Inc. All rights reserved. No part of this document may be reproduced, transmitted or otherwise used in whole or in part or by any means without prior written consent of Route1 Inc. See https://www.route1.com/terms-of-use/ for notice of Route1’s intellectual property.