Archive for the ‘BVI Company & Subsidiary Financials’ Category

Luxoft announced financial results for three months ended June 30

Monday, August 15th, 2016

Luxoft Holding, Inc, the BVI company providing software development services and innovative IT solutions, announced financial results for the three months ended June 30, 2016. During the reported period, company’s US GAAP revenue amounted to US$178.0 mln, adjusted earnings before interest, taxes, depreciation and amortization was US$29.6mln, and EBITDA margin was 16.6 per cent.

Non-GAAP net income was US$21.0 mln, a year-over-year increase of 1.9 per cent. Diluted earnings per share was US$0.62, as compared to US$0.61 in the same quarter of the previous year. Luxoft’s revenue increased to US$178.0 mln for the three months ended June 30, 2016, from US$148.1 mln in the same period last year.

Also, Luxoft reiterated its original outlook for the financial year ended March 31, 2017. Revenue is expected to be at least US$781 mln, a year over year increase of at least 20 per cent. Adjusted EBITDA margin is expected in between 17 and 19 per cent. Diluted earnings per share is expected to be at least US$2.10 on a US GAAP basis and at least US$2.85 on a non-GAAP basis.

Dmitry Loschinin, Luxoft’s CEO and President, said in his comments on the results: “We expect that this year will be transformational for Luxoft, when we expand into new verticals and geographies and solidify our existing core verticals and global sales efforts. We believe that the short-term uncertainty driven by Brexit will spur us to make changes that will increase the resilience of our business and help us capitalize on numerous opportunities resulting from the migration of enterprise operations globally and massive regulatory changes around the world.”

Talon Metals announced financial results for the year ended December 31, 2014

Tuesday, April 14th, 2015

Talon Metals Corp. has reported financial results for the year ended 31, 2014. For this period, net loss of the company made US$17.2mln, or US$0.18 per share, basic and diluted, as compared to net loss of US$7.2mln, or US$0.08 per share, reported in the year period ended December 31, 2013.

The net loss of this year was primarily the result of impairment losses on BVI company’s Trairão Iron Project, administration expenses and project evaluation and due diligence expenses. An impairment loss on the carrying value of the Trairão Iron Project was US$14.0 million, based on company’s assessment of the fair value, and taking into account various approaches to valuation. As a result, capitalized exploration costs and deferred expenditures for the Trairão Iron Project were US$4.0mln in the end of the year 2014.

Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-PGE Project for the reported period were US$9.7mln.

RTG Mining announced fiscal results for year 2014

Wednesday, April 1st, 2015

British Virgin Islands-domiciled company RTG Mining Inc. announced financial results for the full year ended December 31, 2014. During the calendar year 2013, the company changed its financial year period from 30 June to 31 December. For the twelve months ended December 31, 204, RTG reported net loss of US$7.441mln, as compared to the net loss of US$0.881mln reported in the transitional six month period ended December 21, 2013, and net loss of US$8.322mln for the twelve months ended June 30, 2013.

At December 31, 2014, the BVI company had cash and cash equivalents of US$2.395mln, as compared to US$10.987mln at December 31, 2013, and US$14.988 at June 30, 2013. At the end of this fiscal year, company’s cash and liquid assets were US$5.73mln, including cash and cash equivalents.

Company’s interest income in the reported year 2014 was US$0.031mln (US$0.025mln in the transitional 6 months period, and US$0.004mln for the previous year period). Operating expenses were US$nil (the same in the transitional period, US$1,783mln for the year ended June 2013). Administrative costs of RTG mining were US$3.838mln during 2014 (US$2,038mln during transitional 6 months, and US$4.748mln during the previous year).

MDM Engineering Group announced financial results for year ended 31 March 2014

Tuesday, August 26th, 2014

MDM Engineering Group Limited, the minerals process and project management company working in the mining industry, announced its audited financial results for the full year period ended 31 March 2014. The BVI company reported revenue of US$ 108.7 million, as compared to US$ 137.2 million in the previous year; gross profit of US$ 24.2 million, as compared to US$ 33.0 million in 2013; pre-tax profit of US$ 12.2 million (US$ 20.4 million in 2013), and after tax earnings of US$ 10.4 million (US$ 14.2 million in 2013).

Basic earnings of MDM Engineering Group were US 27.66 cents per share, as compared to US 37.78 cents per share in the last year.

Among company’s highlights in this year, there is recommended takeover offer from global engineering and construction group and power equipment supplier Foster Wheeler. Upon completion of this transaction, which is expected very soon, MDM ordinary shares will no longer be traded on the AIM Market.

For the year 2014, the group announced strong cash position of US$ 23.7 million (US$ 34.6 million in 2013), and full year dividend of US 8.00 cents per share.