Epicore BioNetworks Inc. Releases Preliminary Quarter 4 Results for Fiscal Year 2017 - Seite 2

Results versus prior fiscal year quarter four are as follows:

• Q4 revenue of $3.1 million was 37% higher than Q4 last year
• Q4 gross profit of $2.0 million was 60% higher than Q4 last year
• Q4 operating expenses of $1.1 million were 17% higher than Q4 last year
• Q4 earnings before taxes of $0.9 million were 134% higher than Q4 last year
• Q4 net income of $0.55 million was 337% higher than Q4 last year
• Q4 basic earnings per share of $0.02 were 300% higher than Q4 last year
• Q4 cash balance of $4.6 million was 33% higher than Q4 last year

Gross profit increased 60% in Q4 versus prior year due to the increase in revenues and to a higher average gross margin. The unit cost of goods sold was lower in Q4 versus prior year and average selling price was slightly higher, both due to product sales mix. Higher production was achieved without a significant increase in production labor costs. Operating expense increased 17% over prior year Q4 and 12% for the fiscal year. R&D and corporate expenses accounted for the largest increases. Corporate expenses increased due to increased board activity. Tax expense increased in line with higher EBT.  The following table summarizes the Q4 and fiscal 2017 results (rounded to thousands of US dollars):

                                   For the Quarter ended June 30
                           2017       2016            Increase (Decrease)
    Revenue                  $3,076   $2,250            $826          37%
    Gross profit             $2,015   $1,257            $758          60%
    Operating expenses       $1,135     $968            $167          17%
    Earnings before tax        $864     $369            $495         134%
    Net income                 $555     $127            $428         337%
    Earnings per share        $0.02   $0.005          $0.015         300%
    Cash balance             $4,615   $3,478          $1,137          33%

                                   For the Year ended June 30
                          2017     2016        Increase (Decrease)
    Revenue              $11,542   $9,437      $2,105          22%
    Gross profit          $7,295   $5,482      $1,813          33%
    Operating expenses    $4,300   $3,848        $452          12%
    Earnings before tax   $3,034   $1,767      $1,267          72%
    Net income            $1,866   $1,117        $749          67%
    Earnings per share     $0.07    $0.04       $0.04          75%
    Cash balance          $4,615   $3,478      $1,137          33%

Audited financial results will be available in October. Epicore BioNetworks Inc. is a public corporation with a registered office in Calgary, Alberta, Canada and with shares listed on the TSX Venture Exchange (symbol EBN). [Neither 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.]