Currency Exchange International Announces Financial Results for the Three-Month Period and Financial Year Ended October 31, 2020 - Seite 3
Financial Highlights for the financial year Ended October 31, 2020 compared to the financial year Ended October 31, 2019:
- Revenue decreased 40% or $16.8 million to $25.0 million for the year ended October 31, 2020, as demand for banknotes was significantly impacted by the steep decline
in travel due to the pandemic, leading to a 45% decrease in the banknote segment, more than offsetting growth in the payments segment of 29%;
- A net operating loss of $4.0 million in the year ended October 31, 2020 compared to $6.2 million net operating income for the year ended October 31, 2019;
- A net loss of $8.5 million in the year ended October 31, 2020 compared to net income of $2.9 million for the year ended October 31, 2019; and
- A net loss per share of $1.33 on a basic and fully diluted basis for the year ended October 31, 2020, compared to earnings per share of $0.46 in the year ended
October 31, 2019.
As demonstrated in the table below, seasonality is reflected in the timing of when foreign currencies are in greater or lower demand. In a normal operating year there is seasonality to the Company's operations with higher revenues generated from March until September and lower revenues from October to February. This coincides with peak tourism seasons in North America when there are generally more travelers entering and leaving the United States and Canada. The coronavirus pandemic has significantly impacted the ability for people to travel, and therefore the three-month periods ending April 30, 2020, July 31, 2020, and October 31, 2020 are not indicative of typical seasonality.
Selected Financial Data
Three-months ending | Revenue | Net operating income (loss) | Net income (loss) | Total assets | Total equity | Earnings (loss) per share (diluted) |
$ | $ | $ | $ | $ | $ | |
10/31/2020 | 4,935,917 | (1,852,195) | (3,465,632) | 85,758,517 | 58,229,735 | (0.54) |
7/31/2020 | 3,879,873 | (1,993,117) | (2,274,719) | 96,105,961 | 61,462,798 | (0.35) |
4/30/2020 | 6,323,344 | (2,316,356) | (2,942,948) | 99,263,039 | 62,965,874 | (0.43) |
1/31/2020 | 9,874,289 | 1,162,930 | 159,274 | 108,319,219 | 66,323,630 | 0.02 |
10/31/2019 | 11,469,079 | 1,863,442 | 769,393 | 82,729,714 | 66,329,035 | 0.13 |
7/31/2019 | 12,402,484 | 2,935,899 | 1,820,768 | 81,719,233 | 65,447,949 | 0.28 |
4/30/2019 | 9,460,809 | 1,081,292 | 507,370 | 82,267,884 | 63,022,825 | 0.08 |
1/31/2019 | 8,451,671 | 271,410 | (172,811) | 82,045,951 | 62,678,990 | (0.03) |
10/31/2018 | 10,270,234 | 1,724,576 | 995,967 | 73,267,274 | 62,721,937 | 0.17 |
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