Currency Exchange International Announces Financial Results for the Three-and Six- Month Period Ended April 30, 2020 - Seite 2

Financial Highlights for the Three-month Period Ended April 30, 2020 compared to the Three-month Period Ended April 30, 2019:

• During the three-month period ended April 30, 2020, transactional banknote activity between the Company and its customers decreased 51% to 132,000 transactions from 267,000 for the three-month period ended April 30, 2019. Since April 30, 2019, the Company has added 588 new customer relationships comprising 2,837 locations, of which 553 relationships representing 2,766 transacting locations were added in the United States and 35 relationships representing 71 locations were added in Canada;
   
• Revenue decreased 33% or $3.1 million to $6.3 million for the three-month period ended April 30, 2020, as the Company shut all of its retail branch locations on or around March 24^th and many of its wholesale clients did the same in the wake of the coronavirus shutdowns;
   
• Net operating loss of $2.3 million in the three-month period ended April 30, 2020 compared to $1.1 million in net income the three-month period ended April 30, 2019.  Normalizing for the adoption of IFRS 16 on November 1, 2019, the net operating loss would have been $3.0 million in the three-month period ended April 30, 2020;
   
• The net operating loss included a provision for loss of a receivable in the amount of $1.0 million owed by a customer which filed for bankruptcy protection;
   
• Net loss of $3 million in the three-month period ended April 30, 2020 as compared to a net profit of $0.5 million for the three-month period ended April 30, 2019; and
   
• Net loss per share of ($0.47) on a basic and fully diluted basis for the three-month period ended April 30, 2020, versus earnings per share of $0.08 in the three-month period ended April 30, 2019.

Financial Highlights for the Six-month Period Ended April 30, 2020 compared to the Six-month Period Ended April 30, 2019:

• During the six-month period ended April 30, 2020, transactional activity between the Company and its customers decreased 20% to 396,000 transactions from 494,000 for the six-month period ended April 30, 2019;
   
• Revenues decreased 10% or $1.7 million to $16.2 million for the six-month period ended April 30, 2020;
   
• Net operating loss of $1.2 million in the six-month period ended April 30, 2020 (includes provision for loss of a receivable noted above) as compared to $1.4 million net income for the six-month period ended April 30, 2019;